Day One

08:30    Registration and Morning Refreshments

09:00    Chairman’s Opening Remarks

Keith Mullin, Editor-in-Chief, IFR

Keynote Address

09:10    Nicholas de Boursac, Managing Director, Asia Securities Industry & Financial Market Association (ASIFMA), Hong Kong

Nicholas de Boursac, Managing Director, Asia Securities Industry & Financial Market Association (ASIFMA), Hong Kong

09:30    Outlook For Asian Credit Markets

• The impact of global credit market trends on Asia
• What is driving Asian credit?
• Focusing on international fund flows, net funding requirements
• Investor issues

Jon Pratt, Managing Director, Head of Asia Pacific Debt Capital Markets and Financing, Merrill Lynch Asia Pacific

10:10    The Growing Challenge for High-Grade Asia

• What impact will investment-grade issues feel in the new market environment?What do the new conditions mean for investors?

Moderator:
Keith Mullin, Editor-in-Chief, IFR

Panellists:
Paul Au, Director, Head of Asia Debt Syndicate Fixed Income, Currencies & Commodities, Citibank
Stephen Diao, Managing Director (Asia ex. Japan), DEPFA Investment Bank Ltd.
Sung-Uk Hong, Executive Director, Member of the Board, The Export Import Bank of Korea, KEXIM

10:50    Coffee Break

11:10    What Future for High-Yield Asia?

• Following the credit market reversal and liquidity crunch, is there a short-term future for high-yield debt in Asia?
• With structures having become overly lax and leverage too aggressive, can the market be restructured?
• Will efforts to sell Asian High Yield securities into the US be fruitless?

Mark Leahy, Managing Director Regional Head Global Risk Syndicate, Deutsche Bank

11:50    Asian Private Placements

• Why has there been a surge in issuance?
• How immune will private placements be to market volatility and repricing?

Fergus Edwards, Head, Asian Fixed Income Syndicate, UBS

12:30    Subordinated Bank Capital in Asia

• Which structures will be the most vulnerable in times of stress, and from which countries?
• Need for pan-regional tax, accounting, legal and regulatory harmonisation and market standardisation
• Who are the buyers? Global institutional investors, regional retail investors or a mixture of both? Will this change?

Richard Grainger, Director, Asian Debt Capital Markets, Barclays Capital

13:10    Lunch

14:10    Asian Securitisation

• When will it finally deliver and is the future in domestic market deals?
• Will Basel II regulations push financial institutions towards securitisation?
• How important will China’s local securitisation market become?

Will Ross, Head of Asia Securitisation, HSBC

14:50    The Rise of Derivatives, Structured Products and CDOs

• What future is there for structured credit following the turn in global market sentiment?
• Can the growth of Asian structured credit derivatives & CDOs be sustained?
• Lessons from Europe & US of how CDOs drive the growth of underlying credit market
• Asian CLOs as a case study. Will institutional markets develop for Asian Leveraged Loans?
• Challenges and opportunities for the development of Asian structured credit derivatives and CDOs

Stephen Wong, Managing Director & Head of Structured Credit and CDOs, Asia Pacific, RBS

15:30    Coffee Break

15:50    Emerging Asia

• Mongolia
• Vietnam
• Cambodia and Laos
• New sovereign issuance is rapidly being followed by FIG and corporate issuance

Florian Schmidt, Head of Debt Capital Markets, Asia Pacific, ING Wholesale Banking

16:30    PANEL DISCUSSION    Domestic Bond Markets

• How healthy are the region’s domestic bond markets and how can they be improved?
• What are the challenges for issuers in the markets?
• How useful have the multilateral domestic borrowing efforts proved to be?
• What has the impact of international efforts such as the Asian Bond Fund been?
• More and more international investors are hitting the domestic bid – what are the implications?
• An issuer’s experience in bringing the region’s first domestic hybrid issue to the market

Moderator:
Keith Mullin, Editor-in-Chief, IFR

Panellists:
Ramon Opulencia, Treasurer, Ayala Corporation, Philippines
Amit Vishal Sheopuri, Director Asia Debt Market, Global Fixed Income Credit Markets, Citi
Pieter van der Schaft, Head of Asian Local Rates Strategy, HSBC

17:10    Chairman’s Closing Remarks, Questions and Answers

17:20    End of Day I

Day Two

8:30    Morning Refreshments

09:30    Chairman’s Opening Remarks

Keith Mullin, Editor-in-Chief, IFR

09:40   M&A and Leveraged Finance

• What direction will Asian leveraged finance take in light of the new market parameters?
• What role is the bond market expected to play in acquisition financing in Asia?
• What are the risks and opportunities for banks and investors?

Peter Szekely, Executive Director, Asia Leveraged and Acquisition Finance, Morgan Stanley

10:20    The Changing Face of the Buyside

• Did the growth of credit hedge funds fundamentally change the Asian investor landscape?
• How is the landscape expected to change going forward?
• The increasing role of Asian retail investors in bond markets

Simon Derrick, Managing Director, Asia ex-Japan FI Sales, J.P.Morgan Securities (Asia Pacific) Ltd.

11:00    Coffee Break

11:20    Credit Outlook for Asia - A Rating Agency Perspective

• Sovereign Ratings outlook
• Credit markets overview
• Emerging trends in Asia

Jennifer Elliott, Group Managing Director - Asia Pacific, Moody’s, Hong Kong

12:00    Lunch

END OF CONFERENCE