Leveraged Finance Day

10 OCTOBER 2017, THE WALDORF HILTON, LONDON

    • 08:30

      Registration

    • 08:45

      Breakfast

    • 09:30

      Welcome Remarks

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

      Mariana Valle
      Mariana Valle
      Co-Deputy Editor , Debtwire
    • 09:45

      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.

    • 10:15

      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
      Mark Bulmer
      Mark Bulmer
      Head of Banking , Nordic Capital
      Roberto  Biondi
      Roberto Biondi
      Partner , Permira
      Nishant  Nayyar
      Nishant Nayyar
      Principal , Apax Partners
      Mariana Valle
      Mariana Valle
      Co-Deputy Editor , Debtwire
    • 11:00

      Networking coffee

    • 11:45

      Covenant Trends – Every Which Way But Tight

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

      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
      Senior Partner Head of Global High Yield , Rogge Global Partners
      Tatjana  Greil Castro
      Tatjana Greil Castro
      Portfolio Manager, Managing Director , Muzinich & Co
      Dominic Ashcroft
      Dominic Ashcroft
      Managing Director , Goldman Sachs
      Peter Hayes
      Peter Hayes
      Partner , Shearman & Sterling
      Adam  Samoon
      Adam Samoon
      Senior Reporter – High Yield , Debtwire
    • 12:30

      In conversation with the ECB

      An in depth look into the ECB’s leveraged finance guidelines with the bank’s project supervisor.

      Thomas Lane
      Thomas Lane
      Reporter , Debtwire
    • 13:00

      Networking Lunch

    • 13:45

      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
    • 14:15

      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
      Korey Fevzi
      Korey Fevzi
      Partner , Shearman & Sterling
      Joelle  Jefferis
      Joelle Jefferis
      Reporter , Acuris
    • 15:00

      Networking coffee

    • 15:20

      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
      Thomas Lane
      Thomas Lane
      Reporter , Debtwire
    • 16:00

      Loans and bonds - where to invest

      This panel will look at maximising returns in a yield-parched European environment through considering CCCs, dollar-denominated bonds, hybrids and US High Yield opportunities. Searching for yield in stressed sectors such as retail and energy while participation in leveraged loans on the rise.

      Martin  Reeves
      Martin Reeves
      Head of Global High Yield , Legal & General Investments
      Piero  Delmonte
      Piero Delmonte
      Portfolio Manager High Yield , Franklin Templeton
      Robert  Schach
      Robert Schach
      Managing Editor - Europe , Debtwire
    • 16:45

      Networking Drinks