LIBOR BENCHMARKS

Synthetic 3-Month USD LIBOR

Synthetic 3-Month USD LIBOR is used for loans denominated in United States Dollars and finalised prior to August 2017. If you have multiple loans originated by Prodigy Finance, your loans may track different benchmarks, depending on when they were finalised and the currency of the loan.

We adjust the variable interest rate quarterly on 8 January, 8 April, 8 July and 8 October tracking the synthetic 3-Month USD LIBOR rate available at the end of the previous business day. If the synthetic 3-Month USD LIBOR rate is less than zero percent, then the benchmark will be zero percent for purposes of calculating the interest rate.

Synthetic 3-Month GBP LIBOR - discontinued on 31 March 2024

Synthetic 3-Month GBP LIBOR was used for loans denominated in Sterling and finalised prior to July 2017. On 31 March 2024, this rate was discontinued by the FCA. All lenders who used this benchmark rate were required to change the benchmark rate on their customers’ loans which were linked to the synthetic 3-month sterling LIBOR rate, to a replacement reference rate. The replacement rate we have selected is 3-month ICE Term SONIA and we have applied this rate to all our loans finalised up to July 2017. For more information about the change over to the new reference rate and what this means for your loans, visit our SONIA page.

If you have multiple loans originated by Prodigy Finance, your loans may track different benchmarks, depending on when they were originated.

*The market data is provided ICE BENCHMARK ADMINISTRATION LIMITED. LIBOR® ARE ADMINISTERED AND PUBLISHED BY ICE BENCHMARK ADMINISTRATION LIMITED (IBA). LIBOR, ICE AND ICE BENCHMARK ADMINISTRATION ARE REGISTERED TRADE MARKS OF IBA AND/OR ITS AFFILIATES. LIBOR® AND THE REGISTERED TRADE MARKS LIBOR, ICE AND ICE BENCHMARK ADMINISTRATION ARE USED BY PRODIGY FINANCE LTD WITH PERMISSION UNDER LICENCE BY IBA.

HISTORICAL LIBOR® INFORMATION MAY NOT BE INDICATIVE OF FUTURE LIBOR® INFORMATION OR PERFORMANCE. NONE OF IBA, INTERCONTINENTAL EXCHANGE, INC. (ICE) OR ANY THIRD PARTY THAT PROVIDES DATA USED TO ADMINISTER OR DETERMINE LIBOR® (DATA PROVIDERS), OR ANY OF ITS OR THEIR AFFILIATES MAKES ANY CLAIM, PREDICTION, WARRANTY OR REPRESENTATION WHATSOEVER AS TO THE TIMELINESS, ACCURACY OR COMPLETENESS OF HISTORICAL LIBOR® INFORMATION, THE RESULTS TO BE OBTAINED FROM ANY USE OF HISTORICAL LIBOR INFORMATION, OR THE APPROPRIATENESS OR SUITABILITY OF USING HISTORICAL LIBOR® INFORMATION FOR ANY PARTICULAR PURPOSE. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ALL IMPLIED TERMS, CONDITIONS AND WARRANTIES, INCLUDING, WITHOUT LIMITATION, AS TO QUALITY, MERCHANTABILITY, FITNESS FOR PURPOSE, TITLE OR NON-INFRINGEMENT, IN RELATION TO HISTORICAL LIBOR® INFORMATION, ARE HEREBY EXCLUDED, AND NONE OF IBA, ICE OR ANY DATA PROVIDER, OR ANY OF ITS OR THEIR AFFILIATES WILL BE LIABLE IN CONTRACT OR TORT (INCLUDING NEGLIGENCE), FOR BREACH OF STATUTORY DUTY OR NUISANCE, OR UNDER ANTITRUST LAWS, FOR MISREPRESENTATION OR OTHERWISE, IN RESPECT OF ANY INACCURACIES, ERRORS, OMISSIONS, DELAYS, FAILURES, CESSATIONS OR CHANGES (MATERIAL OR OTHERWISE) IN HISTORICAL LIBOR® INFORMATION, OR FOR ANY DAMAGE, EXPENSE OR OTHER LOSS (WHETHER DIRECT OR INDIRECT) YOU MAY SUFFER ARISING OUT OF OR IN CONNECTION WITH HISTORICAL LIBOR® INFORMATION OR ANY RELIANCE YOU MAY PLACE UPON IT.

HISTORICAL LIBOR® INFORMATION ARE PROVIDED BY PRODIGY FINANCE LTD PURSUANT TO APPLICABLE LAW FOR INFORMATION PURPOSES ONLY, AND MAY NOT BE USED FOR ANY OTHER PURPOSE OR DISCLOSED TO ANYONE ELSE.

LIBOR® IS IN THE PROCESS OF BEING WOUND DOWN. IBA IS BEING COMPELLED BY THE UK FINANCIAL CONDUCT AUTHORITY (FCA) TO PUBLISH CERTAIN LIBOR SETTINGS USING AN UNREPRESENTATIVE “SYNTHETIC” METHODOLOGY FOR A TEMPORARY PERIOD. ALL OTHER LIBOR® SETTINGS HAVE CEASED TO BE PUBLISHED AND IBA NO LONGER PUBLISHES ANY LIBOR® SETTINGS USING PANEL BANK CONTRIBUTIONS UNDER THE “PANEL BANK" LIBOR® METHODOLOGY. THE USE OF LIBOR® MAY BE SUBJECT TO LEGAL RESTRICTIONS AND PROHIBITIONS. USERS OF LIBOR® SHOULD ENSURE THEY TAKE LEGAL AND FINANCIAL ADVICE IN ALL RELEVANT JURISDICTIONS TO ENSURE THEY UNDERSTAND THE IMPACT OF THE CESSATION AND UNREPRESENTATIVENESS OF ANY LIBOR® SETTINGS AND THE EXERCISE OF THE FCA’S POWERS TO COMPEL THE PUBLICATION OF CERTAIN LIBOR® SETTINGS USING A SYNTHETIC METHODOLOGY. FURTHER UPDATES OR CHANGES MAY TAKE PLACE RELATING TO THE WIND-DOWN AND CESSATION OF LIBOR. PLEASE REVIEW THE FCA’S LIBOR® TRANSITION WEBSITE HTTPS://WWW.FCA.ORG.UK/MARKETS/LIBOR FOR FURTHER INFORMATION.

Visit ICE’s website to find out more on LIBOR Benchmarks.

Terms of Use: The LIBOR rates on this page are made available solely to Prodigy Borrowers as a reference for the benchmark rates used in the interest rate of their loans. When viewing these rates, no Prodigy customer nor any visitor to the Prodigy Finance website may sell, license, rent, modify, print, collect, copy, reproduce, download, upload, transmit, disclose, distribute, disseminate, publicly display, publicly perform, publish, edit, adapt, electronically extract or scrub, compile or create derivative works from any content or materials (including, without limitation, through framing or systematic retrieval to create collections, compilations, databases or directories) or otherwise transfer any of the content on this page to any third person.