• 08:45

    Time to log in

  • 09:00

    Welcome remarks

  • 09:05

    Keynote: Italian overview (in Italian)

  • 09:30

    Presentation: Italian restructuring data (in English)

    This session will give an overview on the distressed and restructuring market in Italy presenting Debtwire restructuring data.

    • Trends in the Italian market including type of restructuring proceedings being used and transactions details 
    • Players involved 
    • Secondary debt trades trends
  • 09:45

    Live virtual panel: Distressed and restructuring – Where we are heading (in English)

    The panellists will discuss the trends that have emerged from the data presentation and share their insights on the status of the distressed and restructuring market in Italy and their expectations on activity, triggers and dynamics.

    Marco Ghiringhelli
    Marco Ghiringhelli
    Head of Turnaround Management and CRO Services, PwC
  • 10:25

    Networking break

  • 10:40

    Live virtual panel: The next big wave of NPL and UTP – How banks are getting ready (in Italian)

    Based on projected future unemployment, NPL ratio in Italy could double by mid-2021. Italian banks have worked on new strategies to access future disposals. Some UTP sales might require partnerships and new finance. Bad bank AMCO has established itself as the main buyer of UTPs. Other buyers are mainly local bank NPL investors and servicers, a peculiar Italian category which has already been pivotal in restarting the sale of NPL portfolio.

    • What are the banks' plans?
    • The role of the Italian bad bank AMCO
    • What are the strategies for UTP? 
  • 11:40

    Live virtual panel: From Restructuring to Exit (in Italian)

    This panel will look at some of the most notable restructuring examples in Italy and the best exit strategies for investors.

  • 12:15

    Networking break

  • 12:30

    Live virtual panel: NPL securitisation– GACS returns so far and the future of the scheme (in English)

    Two new GACS deals for over EUR 2bn closed in the first half of 2020, and seven deals totalling EUR 7.5bn are in the pipeline. Despite slow collections in April and May according to rating agencies reports, the scheme remains highly effective for the banks in need to sell and will remain a powerful tool to face the expected increase of NPL due to the COVID-19 crisis

    • Facing an unexpected new scenario of NPL increase, what is the future for GACS? 
    • What are buyers ‘opportunities to develop a secondary market from GACS sales?
    • What are the current performances and how do they impact future deals? 
    Alessio Pignataro
    Alessio Pignataro
    Head of European NPL, DBRS
  • 13:10

    Live virtual panel: Restructuring in High Yield (in Italian)

    Several Italian HY issuers have come under fire recently, with some ending up in restructuring processes like Moby and Maccaferri. In this session, panellists will examine how restructurings in the HY space are playing out and how this is impacting new deals flow.

    • Documentation challenges
    • Are the current restructurings impacting the investor appetite for new HY deals in Italy?
    Michele Peduzzi
    Michele Peduzzi
    Partner, PwC
  • 13:50

    Closing remarks