Day One – Monday 8th October 2007

08.30 Registration and morning refreshments

09.00 Chairman’s opening remarks:

Keith Mullin, Editor-in-Chief, IFR

09.10 Outlook for leveraged finance

• At this stage of the world’s economic cycle, has the global LBO market over-reached itself in terms of valuations, pricing and structures?
• Does private equity need to become more public?
• Where does Asia fit into the global picture
• Is there a danger that the cycle will turn before the Asian LBO market really takes off?
• How sensitive will Asia be to a global LBO slowdown?

Robert Morse, Chief Executive Officer, Asia Pacific, Citi

9.50 The role of the institutional investor in the Asian leveraged finance market

• Overview of the experience in the US and Europe for institutional investors
• Why participation from the institutional market is good for the Asian market
• What are the necessary conditions to spur greater institutional investor participation?
• Where is the liquidity going to come from?
• How will the Asian market develop?

Eric Mason, Managing Director, The Carlyle Group

10.30 What is the real appetite for LBOs in Asia?

• What are the real LBO opportunities in Asia?
• Do banks have an appetite for high-risk LBOs?
• Is there a sufficiently large institutional base to finance large LBOs in Asia considering the lack of no term loans B market?
• How serious are sponsors about LBOs in Asia?
• Examining potential instruments other than loans that could be used in financing LBOs

Alan Hirakawa, Head of Leveraged Finance, Barclays Capital

11:10 Refreshments

11:30 Panel debate: Sourcing opportunities in Asia-Pacific LBOs: Where is the value?

Chi Chi Chain, Head - Leveraged & Situational Finance Asia, ABN AMRO
Aaron Chow, Executive Director, Global Leveraged Finance, Head of Syndicated Finance, Asia, UBS AG
Michael Tierney, Managing Director, Head of Leveraged Finance, Asia Pacific, Credit Suisse
Farhan Faruqui, Managing Director, Head of Global Loans Asia Pacific, Citi

12:10 Is US and European LBO structuring the way forward for Asia?

• Overview of US and European leveraged finance market activity
• What is driving the growth of LBOs in these regions?
• Impact of global markets on Asia
• Role of high-yield and mezzanine debt in US and Europe vs. Asia
• Can convergence be achieved within global markets?
• Will covenant light deals be applied to Asian LBOs? Will they add value to high-yield bonds and leveraged loans? Implications of covenant evaporation in an economic downturn

Timothy Donahue, Head of Asia Pacific Leveraged Finance, JP Morgan

13:00 Lunch

14.00 Legal structuring parameters in the Asian LBO market

• Legal and documentation issues across Asia

Joseph Kim, Partner, Leveraged Finance, Paul Hastings, Janofsky & Walker LLP
Brett King, Partner, Leveraged Finance, Paul, Hastings, Janofsky & Walker LLP
Alex Regan, Partner, Leveraged Finance, Paul, Hastings, Janofsky & Walker LLP

14:40 Panel discussion: What obstacles need to be overcome for LBOs to truly take off in Asia-Pacific?

Nick Fenn, Global Head of Leveraged Finance Syndication, Mizuho Corporate Bank, Ltd.
Eric Mason, Managing Director, The Carlyle Group
Juhi Prasad, Senior Vice President, Head of Leverage Finance, Asia Pacific, Lehman Brothers
Peter Szekely, Executive Director, Morgan Stanley

15:30 Refreshments

16.00 Dual perspective: Opportunities and challenges of developing new markets

• Will foreign investors and banks be able to capitalise on increased Asian LBO activity?
• Harnessing opportunities across Asian regions
• Buyout challenges and possibilities in Singapore, Taiwan, Thailand, Malaysia, Philippines and Vietnam
• Comparison of LBOs in Singapore: MMI Holdings, First Engineering

Amit Khattar, Head of Loan Syndicate, Non Japan Asia, Credit Suisse 
Ajay Sawhney, Managing Director and Head of Asia Leveraged Finance Origination, Merrill Lynch 
Jun Palanca , Director of Asia Leveraged Finance, Merrill Lynch
Huw Jenkins, Partner, Clifford Chance 

16:50 Chairman’s closing remarks, questions and answers

17.00 End of day one

Day Two – Tuesday 9th October 2007

09.00 Morning Refreshments

09.30 Chairman’s Opening Remarks

09.40 LBOs in China

• China, with its spectacular growth, would appear to offer huge LBO opportunities but so far very few deals have succeeded
• What are the regulatory and legal obstacles to doing LBOs in China?
• Implications of underdeveloped legal infrastructures
• What needs to change for China to become a major LBO investment destination?
• Where best to invest to maximise capital growth?
• Analysis of Huawei-3Com’s LBO in China: What went wrong? What could have been done better?

Asghar Ali, Director, Leveraged Finance, Citi
Anthony Wang, Partner, Clifford Chance

10.20 LBOs in India

• India – Corporate earnings and economic overview
• India – One of the fastest growing M&A markets in the world
• In-bound vs. out-bound LBOs:
  • overcoming the regulatory obstacles to in-bound LBO financings
  • what is fuelling the good number of out-bound LBO deals?
• Examining the regulatory changes that are needed to make the market more efficient
• Key deals

Kalpesh Kikani, Head - Global Investment Banking, ICICI Bank Limited

11.00 Refreshments

11.20 Dual perspective: The Australian LBO market

• Overview of key deals and sectors
• Why has the Australian market grown so quickly?
• Are there signs of a genuine institutional market developing in Australia?
• Is the domestic market big enough to finance really large LBOs and, if not, what challenges does this create?
• Is there significant political resistance to LBOs in Australia?
• How committed are local banks to the LBO concept? Are they becoming risk averse?
• Comparison of LBOs in Australia: Qantas, Seven, PBL Media
• Future market outlook and prospects

Greg Lapham, Managing Director, Head of Leveraged & Acquisition Finance, nabCapital
Michael Tierney, Managing Director, Head of Leveraged Finance, Asia Pacific, Credit Suisse

12.00 Lunch

13.30 End of conference