U.K. regulators are seeing some success as they try to shift the sterling bond market away from scandal-hit LIBOR.

Five all-new floating-rate pound notes have come to market this year, and all of them have been tied to the Sterling Overnight Interbank Average (SONIA) rather than LIBOR. FMS Wertmanagement, Lloyds Banking Group Plc, and International Finance Corp. were the latest names to join the offering list.

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