14th Annual European High Yield Conference | afme

14th AnnualEuropean High Yield Conference

14 Oct 2019 etc. venues St. Paul's, London

Agenda

08.00

Workshop registration and refreshments

08.30

Morning workshop: TBD
Hosted by Covenant Review

09.00

Conference registration and refreshments

09.30

Opening remarks
Youssef Khlat, Global Head of High Yield Capital Markets, Crédit Agricole, Chair, High Yield Board, AFME
Gary Simmons, Managing Director, High Yield and Prime Services, AFME

09.45

Panel discussion: Heads of European High Yield and Leveraged Finance

Conversation between leading heads of high and leveraged finance businesses, regarding current market trends and expectations for 2020.

  • Review of the European High Yield market issuance and performance in 2019
  • Effects of current and developing trends and practices in the industry
  • Global economic factors affecting the markets
  • What key factors do you expect to influence the market in 2020 and beyond?

Moderator: Kevin Muzilla, Partner, Allen & Overy

Speakers:
Dominic Ashcroft, MD, Co-Head Leveraged Finance Capital Markets, EMEA, Goldman Sachs
Matthew Cestar, Co-Head of Investment Banking and Capital Markets EMEA, Credit Suisse
Ben Thomson, MD, High Yield and Leveraged Loan Capital Markets, J.P. Morgan
Diarmuid Toomey, Head of European High Yield Capital Markets, Deutsche Bank

10.30

High Yield Investors Introduction 

10.40

High Yield Investor Panel: Portfolio Management and Investment Decisions

  • How does high yield compare as an asset class to other investment choices?
  • Relationship between covenants/structures and price
  • How do you prioritise pushback on covenants/structures?
  • Systemic vs. Systematic risk: which if the greater determinant of portfolio performance?
  • Is there such a thing as a smart beta in high yield investing?
  • Do the current reporting requirements still enable investors to monitor and reconcile the issuer’s actions and performance?

Moderator: Trevor Ingram, Partner, Shearman & Sterling

Speaker:
Jill Concannon, Partner, White & Case
Jane Gray
, Head, Covenant Review

11.20

Networking break

11.50

Morning keynote address: TBD

Nicky Morgan MP, Chair, House of Commons Treasury Select Committee

Q&A moderated by Simon Lewis OBE, Chief Executive Officer, AFME

12.20

Panel discussion: Leveraged Finance Update:  High Yield and Leveraged Loans in a Changing Market

  • High Yield Bonds vs. Leveraged Loans: convergence or replacement?
  • Private debt issuance
  • Risk retention and CLOs
  • Increased regulatory oversight of leveraged finance markets
  • Covenants: where are they going?

Moderator: Michael Dakin, Partner, Clifford Chance

Speakers:
Matthias Baudisch, Partner, Allen & Overy
Marwa Elborai, Partner, Shearman & Sterling
Christian Knitzschke, Head of Leveraged Finance and High Yield Syndicate EMEA, BBVA

13.00

Networking lunch

14.00

Debate: Green Bonds and ESG Investing: Just a Trend or Here to Stay?

  • Why has there been a surge in demand for “green bonds” and other kinds of sustainable finance?
  • What is the economic value in ESG investing?
  • How relevant is the High Yield industry for ESG investing?
  • Rule 144A: how does the consultant’s report hold up?

Speakers:
Andrew Kelly, Partner, Clifford Chance
Anna-Marie Slot, Partner, Ashurst

Issuer Case Studies: Stressed/Distressed Debt

  • What are the current techniques and market trends in LM/exchanges?
  • LM techniques to manage stress and distress
  • Trends in issuer and bondholder behaviours
  • Are instances of aggressive issuer/debtor behaviour more marked in the context of high yield compared to other forms of financing?

Moderator: Aseet Dalvi, Counsel, Cleary Gottlieb Steen & Hamilton

 

14.40

Debate: Update on Listing Trends and Exchange Requirements

Speaker: Fiona Le Poidevin, Chief Executive Officer, The International Stock Exchange Group

Panel discussion: Private Equity

Moderator: Tamer Bahgat, Partner, Ashurst

15.20

Networking break

15.50

Afternoon guest speaker

16.20

Panel discussion: High Yield Question Time – How can High Yield Stay Competitive?   

Moderator: Tony Lopez, Partner, DLA Piper

Speaker:
Haden Henderson,
Partner, Baker & McKenzie

17.00

Closing remarks

Gary Simmons, Managing Director, High Yield and Prime Services, AFME

17.15

Drinks reception