Day 1
08:30 Registration and Morning Refreshments
09:00 Chairman's Opening Remarks
Phillip Wright, Associate Editor, IFR
09:15 Overview of the European corporate funding landscape
- Examining the environment for corporate bond issuance: when will the capital markets return to life?
- Market appetite for corporate loans
- Will this satisfy European corporate borrowing demands and requirements?
- How will corporates be looking to raise capital in the foreseeable the future?
Ivor Dunbar, Head of Global Markets, Europe and Asia, Deutsche Bank
09:55 Credit environment: the macro background
- Impact of market turmoil on the ability of corporates to raise finance
- What has to happen before the banks show a willingness to lend?
- How long will the credit crunch last and the repercussions be felt?
Eric Chaney, Chief Economist for Europe, Morgan Stanley
10:35 Refreshments
11:00 Investor panel discussion: Assessing the requirements and demands of investors
- With the increased potential for defaults, what is the investor’s approach to corporate funding and what new set of priorities are emerging?
- Assessing the growing investor demand for bespoke solutions
- Characteristics the investor is looking for in a corporate borrower
- Where are investors looking to make future allocations?
- How much issuance can the market take?
Ian Robinson, Co-Head of UK Credit, F&C Investments
Nigel Sillis, Head of Fixed Income and Currency Research, Baring Asset Management
Simon Ballard, Senior Credit Portfolio Manager, Fortis Investments
11:40 Opportunities in the global commercial paper markets
- Market overview and performance
- Growing investor demand for corporate paper: banks and conduits aren't what they used to be!
- Pricing and backstops
- Is CP right for me?
Peter Eisenhardt, Chairman, Euro Commercial Paper (ECP) Committee and Principal, European Commercial Paper Team, Bank of America
12:20 Lunch
14:00 Corporate syndicated loans
- European banks’ approach and willingness to lend in today’s challenging environment
- Implications for acquisition finance, investment grade issuers and non-investment grade sector
- How can borrowers make themselves more attractive to lenders?
Ashu Khullar, Managing Director, Loans and Leverage Finance, Capital Markets Origination, Citi
14:40 Trends in the corporate securitisation market
- Does securitisation still hold value for issuers?
- Market outlook for corporate securitisation
- Which asset classes are better suited for securitisation? Which are not?
- What are the risks and how can they be mitigated?
Stefan Jaeger, Associate Director, Barclays Capital
15:20 Refreshments
15:45 Panel discussion: High yield corporate bonds
- What has to happen for the high yield market to reopen?
- How are HY issuers meeting their current funding requirements in this challenging market?
- What are investors' attitudes to high yield debt?
Luca Tassan, Executive Director, Head of Corporate Acquisition Financing, Lehman Brothers
Gareth Noonan, Managing Director, Leveraged Finance Capital Markets, Merrill Lynch
Chris Dinwoodie, Managing Director, Head of Corporate Ratings, Standard and Poor’s
16:20 Corporate bonds: Investment grade
- Review of the investment grade DCM for 2008 so far
- What will kick-start European corporate bond issuance?
- Benefits of DCM issuance
Sarwat Faruqui, Director, Investment-grade Syndicate, Citi
17:00 End of Day One
Day 2
08:30 Registration and Morning Refreshments
09:00 Chairman's Opening Remarks
Phillip Wright, Associate Editor, IFR
09:15 Corporate hybrid securities
- Overview of trends in the corporate hybrid markets
- Rationale for issuance
- Structural considerations for corporate sector hybrids
Steve Sahara, Managing Director, Global Head of Hybrid Capital Structuring, Calyon
09:55 Convertible bonds
- Why issue a CB and what financial objectives can be met?
- Who is a good candidate for a CB?
- Structures and features of convertible bonds
- Impact on corporate capital structure
- Who are the investors?
- Key considerations and measures used by investors when evaluating and choosing to buy convertibles
Viswas Raghavan, Head of Europe and Asia ECM, JPMorgan
10:35 Refreshments
11:00 Financing by private placements
- Emergence of private placements
- How it works in practice
- The ideal candidate for a private issue
- Identifying and finding investors of private placements
- Outlook for the private placement market
Stanford Hartman, Vice President, Debt Capital Markets, Private Placement Group, Bank of America Securities
11:40 Planning of an IPO
- Overview, update and trends in the IPO market
- Do you want to run a public company?
- Analysing the feasibility of taking your company public
- Ensuring you have the right management team in place
- Considerations when selecting an underwriter
- Considerations when selecting advisors
Jim Renwick, Vice Chairman, UBS Investment Bank
12:20 Chairman’s Closing Remarks, Questions and Answers
12:30 Lunch & Close of Conference
