Term SOFR is a daily forward-looking term rate based on the Secured Overnight Financing Rate (SOFR). It’s used in loan agreements as a reference rate for USD loans with tenors of one, three, six and twelve months (Replaced USD LIBOR, which ceased to be published on June 30, 2023).
Term SOFR is administered and published by CME Group Benchmark Administration Limited on each US Government Securities Business Day at approximately 6:00am US Eastern time/ 11:00am GMT, two business days prior to the commencement of the relevant interest period.
 
Term SOFR Data is available at the following address:
Term SOFR - CME Group
 
A Credit Spread Adjustment (CAS) has been incorporated to adjust (increase) the SOFR rate interest, to compensate for the calculation methodology differences between the LIBOR and SOFR (a risk-free rate).
In case Term SOFR is less than zero, then Term SOFR shall be deemed to be zero for the particular interest period.
In case Term SOFR plus CAS is less than zero, then Term SOFR plus CAS shall be deemed to be zero for the particular interest period.