Leveraged Finance Day

10 OCTOBER 2017, THE WALDORF HILTON, LONDON

    • 18:30

      Opening Party - 09 October 2017

      All Access Pass holders and delegates to Leveraged Finance Day are invited to attend the Opening Party at The Ned on 09 October 2017.

    • Leveraged Finance Day - 10 October 2017

    • 08:30

      Registration

    • 08:45

      Breakfast

    • 09:15

      Welcome Remarks

      Providing a context for the day’s discussions, the chairperson summarises the year to date.

      Robert  Schach
      Robert Schach
      Managing Editor, Debtwire
    • 09:30

      Keynote: When will the music stop?

      The speaker will examine the wave of liquidity in the leveraged finance market and how sustainable it is. They will consider the underlying market drivers, the impact of potential rate rises and factors driving flows into leveraged loan and high yield funds as well as the outlook for the remainder of 2017.

      Peter Dixon
      Peter Dixon
      Chief UK Economist, Commerzbank
    • 10:00

      Financial sponsor outlook – abundant liquidity and sky-high valuations

      Leading financial sponsors discuss taking advantage of the availability of debt amid inflated EV expectations

      • How low can we go?
      • Restricting transferability language
      • Lev loans, high yield or private debt – what to tap when
      • Fund financing and boosting IRR
      • Zero cashflow investments – an opportunity?
      Adil  Seetal
      Adil Seetal
      Director, CVC
      Christof Ratjen
      Christof Ratjen
      Principal, Nordic Capital
      Roberto  Biondi
      Roberto Biondi
      Partner, Permira
      Nishant  Nayyar
      Nishant Nayyar
      Principal, Apax Partners
      Mariana Valle
      Mariana Valle
      Co-Deputy Editor, Debtwire
    • 10:45

      Networking coffee

    • 11:30

      Onstage Q&A: Covenant Trends

      Overview of covenant trends and the main warning signs in documentation that investors should be aware of.

      Piero  Delmonte
      Piero Delmonte
      Portfolio Manager High Yield, Franklin Templeton
      Martin  Reeves
      Martin Reeves
      Head of Global High Yield, Legal & General Investments
      James Slessenger
      James Slessenger
      European Managing Director, Xtract Research
    • 12:00

      High yield – the tourist destination of 2017

      A variety of buyside and syndicate views on the prolonged flurry of high yield issuance. Discussion includes erosion of covenant terms, record tight pricing, loan market cannibalisation and the impact of the market abuse directive on reporting requirements.

      Robert  Berzins
      Robert Berzins
      Managing Director, Beach Point Capital Europe LLP
      David  Newman
      David Newman
      Managing Director Head of Global High Yield, Allianz Global Investors
      Tatjana  Greil Castro
      Tatjana Greil Castro
      Portfolio Manager, Managing Director, Muzinich & Co
      Dominic Ashcroft
      Dominic Ashcroft
      Co-Head Leveraged Finance Capital Markets & Syndicate, Goldman Sachs
      Peter Hayes
      Peter Hayes
      Partner, Shearman & Sterling
      Adam  Samoon
      Adam Samoon
      Senior Reporter – High Yield, Debtwire
    • 12:45

      Networking Lunch

    • 13:45

      Banks reply to the ECB

      Banks discuss their take on the ECB guidelines on leverage and what impact it could have in the market. How do they interpret it and how will they approach the ECB guidelines.

      Marc Chowrimootoo
      Marc Chowrimootoo
      Managing Director, Goldman Sachs
      Steffen  Wasserhess
      Steffen Wasserhess
      Managing Director, Head of NIG/HY Syndicate , UniCredit
      Chris Lovgren
      Chris Lovgren
      Global Head of High Yield & Corporate Distribution and Trading, Natixis
      Mariana Valle
      Mariana Valle
      Co-Deputy Editor, Debtwire
    • 14:30

      Outside views: LP Interview

      Limited partners investing in private credit, fixed income and private equity discuss their perspectives on the different markets.

      • Fixed income or alternatives: who will be the biggest beneficiary?
      • Choosing between pooled or managed accounts in private credit
      • When will LPs bypass the manager and go direct?
      • Do performance fees have a place in loan funds?
      • Carry incentive in private debt – the big debate
      John Bohill
      John Bohill
      Partner , StepStone
      Duncan  Scorey
      Duncan Scorey
      Director - Private Capital & Fixed Income, Capital Generation Partners
      Trevor Castledine
      Trevor Castledine
      Pension Fund Investment Director , Local Pensions Partnership
      Mike Peterson
      Mike Peterson
      Managing Editor, Creditflux
    • 15:00

      Networking coffee

    • 15:20

      Debt funds go large

      Direct lenders are graduating into the big leagues and proposing a real alternative to the leveraged loan and high yield markets. How big can they go and how will they get there?

      Mike  Dennis
      Mike Dennis
      Partner, Ares Management
      Cristobal Cuart
      Cristobal Cuart
      Director, Credit, KKR
      Graeme Delaney-Smith
      Graeme Delaney-Smith
      Managing Director, Alcentra
      Bill Ammons
      Bill Ammons
      ‎Founding Partner & Portfolio Manager, AlbaCore Capital
      Korey Fevzi
      Korey Fevzi
      Partner, Shearman & Sterling
      Joelle  Jefferis
      Joelle Jefferis
      Reporter, Debtwire
    • 16:05

      Is the CLO model in jeopardy?

      CLO managers will discuss this year’s developments in the industry.

      • The impact of dwindling TLB spreads on CLOs
      • The future for CLO liabilities
      • Are managed accounts a threat to CLOs?
      • Are CLOs broadening their investment scope?
      Colin  Atkins
      Colin Atkins
      Managing Director, The Carlyle Group
      Rob Reynolds
      Rob Reynolds
      Chief Investment Officer, Spire Partners
      Madelaine Jones
      Madelaine Jones
      Managing Director and Co-Portfolio Manager, Oaktree Capital
      Chris Dammers
      Chris Dammers
      Deputy Editor, Debtwire
    • 16:45

      Networking Drinks