Leveraged Finance & CLO Briefing 2020 - Frankfurt
Thursday, April 23, 2020
April
Register Now
Jump to:
OverviewAgendaFeedback from the 2019 BriefingSpeakers

Overview

Overview

What are market attitudes towards leverage as the cycle turns? How much room for manoeuvre is there left? Join the annual event to examine European high yield market conditions and discuss what may magnify risks in 2020 and beyond.

Hear from leading analysts and experienced market figures about the latest trends and shifts in the credit landscape. Look deeper into the impact of deteriorating standards, the increasing role of ESG, and cross sector performance.

Track the trends | How today’s market dynamics translate into high yield credit

Explore the Outlook | What will be the default rate drivers in 2020?

Engage with the market | Network with 200+ investors, issuers and intermediaries from across Europe

Breakout Sessions | Covenants & Documentation and Early Warning Signals

Testimonials 2019

Good knowledge of all the presenters in their respective topics.
Excellent quality of content, carefully chosen panelists, knowledgeable presenters which gave an interesting, lively insight.
The presentation tackled the right points
The quality of the presentations and the organization was excellent

Agenda

09.00 Registration &  Coffee

09.30 Opening Remarks

Chairperson: Jeanine Arnold, Associate Managing Director, Corporate Finance

09.40 Keynote Spotlight Conversation

Dietmar Hornung, Associate Managing Director, Sovereign

Led by Jeanine Arnold, Associate Managing Director, Corporate Finance

10.15Leveraged Finance Presentation: Beyond the Leverage Multiple

Dirk Goedde, Associate Vice President, Corporate Finance

10.45Networking &  Coffee Break

11.00Panel Discussion

  • In a lower for longer interest  rate environment, does leverage matter anymore?
  • EBITDA add-backs: Now pervasive  in most deals, but larger and harder to achieve?
  • Downgrades on the rise: To what  extent is deal stress rising? How concerned should investors be?
  • ESG: Increasing in importance  but still mostly a sideshow for HY investors?

Led by Christian Hendker, Associate Managing Director, Corporate Finance Group

Brian McCarthy, Head of Yield Enhancement, TALANX/AMPEGA

Lipin Przemyslaw, Managing Associate, LINKLATERS

11:30CLO Presentation: Dark Clouds on the Horizon

  • Issuance and  performance updates
  • Negative outlooks and  downgrades: Impact on WARF and trading flexibility
  • How does a tighter arbitrage  impact CLO structures?
  • How big a risk is ESG for  CLOs?

Presented by Wei Jiao, Associate Vice President, Structured Finance

Agenda

09.00 Registration &  Coffee

09.30 Opening Remarks

Chairperson: Jeanine Arnold, Associate Managing Director, Corporate Finance

09.40 Keynote Spotlight Conversation

Dietmar Hornung, Associate Managing Director, Sovereign

Led by Jeanine Arnold, Associate Managing Director, Corporate Finance

10.15Leveraged Finance Presentation: Beyond the Leverage Multiple

Dirk Goedde, Associate Vice President, Corporate Finance

10.45Networking &  Coffee Break

11.00Panel Discussion

Led by Christian Hendker, Associate Managing Director, Corporate Finance Group

Brian McCarthy, Head of Yield Enhancement, TALANX/AMPEGA

Lipin Przemyslaw, Managing Associate, LINKLATERS

11:30CLO Presentation: Dark Clouds on the Horizon

Presented by Wei Jiao, Associate Vice President, Structured Finance

<div class="n-agenda-section-custom"><div id="agenda-top" class="n-agenda-anchor"></div><div id="tabtop" class="n-agenda-b-day-container"><div data-duration-in="500" data-duration-out="200" class="n-agenda-b-tabs erin w-tabs"><div class="n-agenda-b-tabs-content erin w-tab-content"><div data-w-tab="Tab 1" class="w-tab-pane w--tab-active"><div class="n-agenda-content-wrapper erin"><div class="n-agenda-content-wrapper-custom-2col erin"><div class="n-agenda-item-block erin"><div class="n-agenda-b-time-column erin"><h2 class="n-agenda-b-time erin">11.50 </h2></div><div class="n-agenda-one-row-wrapper-2 erin"><div class="n-rtb-agenda-main erin w-richtext"><h2>Breakout Sessions</h2></div></div></div><div class="n-agenda-b-stream-content-holder erin"><div class="_5-col-stream-wrapper-custom erin"><div class="rtb-5-col-purple-custom erin w-richtext"><h1>Covenants and Documentation</h1><h4>- Key risks to consider as credits deteriorate </h4><h4>- How is the quality of documentation incorporated into our credit analysis?</h4><p>‍</p><h4><em>Lisa Gundy, Vice President, Senior Covenant Officer</em></h4><h4><em>Perrine Bajole, Analyst, Corporate Finance Group</em>‍<strong>‍</strong></h4></div><div class="rtb-5-col-blue-custom erin w-richtext"><h1>Early Warning Signals</h1><h4>- As the global economy decelerates, what will be the most prevalent and relevant warning signs?</h4><h4>- What warning signs have recently seen an increase, and what does this mean for our default rates?</h4><p>‍</p><h4><em>Led by a Moody’s analyst</em></h4><p>‍</p></div></div></div></div></div><div class="n-agenda-content-wrapper erin"><div class="n-agenda-item-block erin"><div class="n-agenda-b-time-column erin"><h2 class="n-agenda-b-time erin">12.30 </h2></div><div class="n-agenda-one-row-wrapper-2 erin"><div class="n-rtb-agenda-main erin w-richtext"><h2>Close of the Summit</h2></div></div></div></div></div></div></div><a href="#agenda" class="n-agenda-back-to-top">Top of agenda</a></div></div>
Speakers

Guest Speakers

No items found.

Moody's Speakers

Jeanine Arnold
Associate Managing Director -
Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group
Associate Managing Director -
Jeanine Arnold
Dietmar Hornung
Associate Managing Director -
Sovereign Risk Group

Moody's Investors Service

Moody's Investors Service

Sovereign Risk Group
Associate Managing Director -
Dietmar Hornung
Dirk Gödde
Assistant Vice President - Analyst
Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group
Assistant Vice President - Analyst
Dirk Gödde
Christian Hendker
Associate Managing Director
Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group
Associate Managing Director
Christian Hendker
Lisa Gundy
Vice president – Senior Covenant Officer
Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group
Vice president – Senior Covenant Officer
Lisa Gundy
Perrine Bajolle
Analyst
Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group
Analyst
Perrine Bajolle

If you have any questions, please contact Christopher de Ridder.