With just under a year until the demise of at least certain settings of LIBOR, 2021 will be the definitive year for progress and development of market practice. In the sterling syndicated loans market, although much progress has been made to date, both the target of the Working Group on Sterling Risk-Free Reference Rates (£RFRWG) that there should be no new issuance of sterling LIBOR based loans after the end of Q1 2021 and the stock of legacy LIBOR referencing loans mean there is still much work to do. In this article, we take stock of recent developments and examine the pathway to the end of 2021 for the syndicated loan market.