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Since the lockdown took hold across Europe, companies have been bolstering liquidity to sustain the unprecedented economic impact being caused by the COVID-19 outbreak.
Government stimulus packages have been hastily launched to shield whole sectors of the economy from collapse, such as the UK’s £350bn loan guarantee scheme. Meanwhile, credit worthiness continues to decline, with higher leverage becoming a concern for the most indebted. The question facing companies is whether balance sheets can withstand the rate of cash burn and revenue decreases before intervention from the public sector takes effect.
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13:45
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14:00
Live Virtual Briefing Starts
In this live virtual briefing, we take stock of the response to date in Europe’s major economies and consider the areas where financial stress is of greatest concern, including:
- Bolstering liquidity; the scale and means by which companies are accessing cash
- Distressed watchlists; outlook for the industries that present restructuring opportunities
- What effect will economic stimulus in Italy, Spain, UK and Germany have?
- How will restructuring have to be facilitated in an era of remote-working and social distancing?
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14:30
Live Q&A
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William Jenkins is a Managing Director with Alvarez & Marsal Restructuring in London. He brings over 20 years of experience in restructuring, corporate finance and private equity / venture capital – from investing in and working closely with SMEs to large cap cross-border M&A, restructuring and debt-for-equity transactions.
Mr. Jenkins has worked with clients across a wide range of industries, including financial institutions, retail, industrials, healthcare, infrastructure, waste management, transport and shipping.
Merlin Piscitelli is Chief Revenue Officer for Europe, the Middle East and Africa at Datasite.
In his role, Merlin is responsible for setting and managing the sales strategy and its deployment across this diverse and complex region, including coordinating and managing teams and sales representatives across Europe, the Middle East and Africa. He is based in London.
Merlin has been driving the M&A digital transformation in EMEA since joining Datasite in 2006. He has served in several leadership roles within the organization, including Head of Sales, Europe, Middle East and Africa and Director of Sales, helping drive technological innovation and deal velocity across the region.
Prior to joining Datasite, Merlin served as a sales and business development professional for Infotrieve, now part of Copyright Clearance Center, a global licensing technology content solutions business and document delivery provider.
Merlin holds a BS in Business/Marketing from Florida State University.
Find Merlin on LinkedIn.
James spent 22 years as a finance lawyer, 12 as a partner, at Herbert Smith LLP, a leading City of London-based international law firm. His long experience includes acting for borrowers and lenders in new money, refinancing and restructuring work in the syndicated loan, bond, private equity and project finance markets. He joined Xtract Europe in October 2010 as the senior English covenant analyst on high yield bonds and syndicated loans.
Andrew Wilkinson is the Senior European Partner in Weil’s restructuring team. He has over 35 years restructuring experience as a lawyer in private practice and banker advising bondholder groups, other lenders and large corporates and governments on debt restructuring. Before joining Weil, Andrew was European Head and co-Head of Restructuring at Goldman Sachs. His experience includes many significant public, creditor and private company restructurings, representing debtors on major restructurings, working on securitisations and structured deals, financial institution restructurings and insolvencies, and advising government bodies and financial institutions. He pioneered the use of schemes of arrangement for high yield bond restructurings in Europe.”
Chiara Elisei is Co-Deputy Editor at Debtwire Europe and heads up the restructuring desk. She started at Debtwire in 2008, focusing on restructuring and expanding Debtwire’s Southern Europe coverage. Prior to joining Debtwire, she worked as a reporter at Italian newspapers Corriere della Sera and Il Messaggero, and national broadcasting company RAI, covering current news and international affairs. Chiara graduated in Classics at Scuola Normale Superiore, Pisa, where she also got a PhD in June 2010.