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Deborah Carmichael

Deborah Carmichael



  • banking and finance
  • collective investment schemes
  • swaps and derivatives
  • private equity

WSG Practice Industries


South Africa

Areas of Practice

banking and finance | collective investment schemes | private equity | swaps and derivatives

Professional Career

Professional Activities and Experience

Deborah is recognised as a leading/recommended lawyer by:

  • IFLR1000 Financial and Corporate Guide 2021, 2020, 2019 – Banking and Finance – Highly Regarded (South Africa)
  • Best Lawyers® 2021, 2020, 2019 – Structured Finance (South Africa)


The Phhasing-Out of LIBOR: A Helpful Guide to the “Must-Have” Features of Contractual Fall-back Language
ENSafrica, April 2020

Market participants are undertaking significant work to prepare for a transition away from the London Interbank Offered Rate (“LIBOR”). The Financial Conduct Authority (“FCA”) in the UK has made it clear that the publication and dissemination of LIBOR cannot be guaranteed after 2021. The launch and reform of preferred alternative reference rates to USD LIBOR and GBP LIBOR are important steps in this transition journey...

What’s Happening to JIBAR?
ENSafrica, April 2020

Following our recent article on the end of the London Interbank Offered Rate (LIBOR), you may be wondering, “but what is happening to the Johannesburg Interbank Average Rate (“JIBAR”)? If I have a long dated loan referencing JIBAR, should I be adding some fall-back language?” To recap, on a worldwide basis, central banks and regulators undertook a review of interbank lending rates after the financial crisis of2008...

Will the end of (L)IBOR be delayed?
ENSafrica, March 2020

Many banks and other financial services businesses and corporates have started preparing for life after the London Interbank Offered Rate (“LIBOR”). We are now less than two years away from the LIBOR and other Interbank Offered Rates (“IBORs”) being discontinued. Global banks are only required to submit LIBOR until the end of 2021. The proposal is to replace LIBOR and other IBORs with (nearly) risk-free rates (“RFR”) in certain major jurisdictions...

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