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Agenda Overview

September 9th Icebreaker Cocktail Reception at The Ritz-Carlton Hotel Sponsored by ING

Day One Agenda: Thursday September 10th

8.15am Registration and coffee

9.00am Chairperson’s opening remarks

9.15am A macroeconomic debate: What economic changes are we seeing in Latin America and how is the syndicated loans market impacted?
Latin America is in a deep economic transformation. In this session we will have a debate among economists who will give their forecasts and thoughts on the economy and geopolitical environment for 2015.
  • Which regions are going to be the frontiers for getting projects financed this year?
  • How have the Mexican energy reform affected the economy and syndicated loan market?
  • What impact have Brazilian macroeconomic changes had on the syndicated loan market? Will other economies and regions benefit from the “scandal”?
  • Looking at the impact of falling oil and gas prices on Latin America’s macroeconomic indicators:  Who are the winners and looser?
David Duong, Local Markets Strategy, Santander Investment Securities Inc.

10.00am How low can we go? A deeper look into the banks pricing, deal volume and tenors
  • How are banks responding to the dual challenge of high liquidity and competition in the market?
  • What do the international banks bring to the market that local and regional players can’t?
  • Which countries and sectors are commercial banks looking at and why?
  • How far are Basel III priced into the loan market? What will post-crisis regulation mean for the tenor and structure of loans?
Nicole Freeman, Managing Director, Origination and Syndication, Wells Fargo
Moderator: Javier Richard Cook, Managing Director, Syndicated Loan Capital Markets Group, Investment Banking Division for the Americas, MUFG
William Donovan, Executive Director, Loans Syndications, Santander
Sara Pirzada, Executive Director, Mizuho Bank, Ltd.
Rodrigo Garcia de Leon, Vice President, Loan Syndications, Latin America, HSBC

10.45am Morning coffee and networking break

11.30am Mexico before and after: How have the energy reforms opened opportunities for new players, structures and financing models?
  • What new structures and opportunities have arisen as a result of the reforms? Will we see a new financing paradigm?
  • To what extent will the energy reforms open up private investment in the oil & gas, telecom and power sectors?
  • What are the key risks lenders consider when evaluating potential financing opportunities in the post-reform market?
Ignacio Quesada, Managing Partner, Alvarez Marshall
Bernardo de la Garza
, Consultant on Energy and Legal Matters, Telmex

12.15 Falling angels: Bringing previously active and non-investment grade companies into the game again and making them successful
  • What can we learn from the turnaround of different companies? 
  • How did companies arrange paying back their old debt with new debt?
  • Lessons learned from success stories: How do you take names that have been failing to the market and rebrand them?
Michael Jakob, Director, Credit Suisse
Moderator: Doug Doetsch, Partner, Mayer Brown
Sam Aguirre, Senior Managing Director, FTI Consulting

1.00pm Lunch

2.30pm The role of loan syndication in project finance: How are the shorter tenors and restrictions being handled and what new structures does it provide?

  • What lending structures present themselves for project finance projects throughout the regions?
  • How has Peru managed to attract more investment into its infrastructure projects in the last three years than in the previous decade?
  • Is there new interest from institutional investors and is this affecting the syndicated loan players?
  • Bank market vs bond market: Can these markets work together?
Moderator: Brett Murphy, Managing Director Project Finance, Banco Société Générale
Emilio Fabbrizzi, Director, Head of Project Finance Latin America, DNB Markets, Inc.
Benjamin Velazquez, Director, ING
Marcos S. Camargo, Managing Director, Syndication & Capital Markets, Banco Société Générale Brasil

3.15pm Looking past the Brazilian instability: What will drive the Brazilian syndicated loan market in 2015?

  • What will the change in commodity prices mean for future investments in Brazil? Will we see a change in the overall supply of capital?  
  • Impact of the Petrobras scandal: Do lenders see an opening in the market to be allowed to finance Brazilian infrastructure projects?
  • Outlook for 2016: How are international banks looking to encourage Brazilian companies to use syndicated loans? Will the international and local banks change their strategies?
  • Are there smaller companies in Brazil considering using loans for the first time? Who are they?

Reinaldo Manoel de Lima, Deputy General Manager, Banco do Brasil
Samuel Canineu, Director, ING
Moderator: Andreas Dobner,
Head Credit & Surety Hub Latin America, Director, Swiss Re

4.00pm Afternoon refreshments and networking break

4.30 The boom in M&A activity: Will we see more companies expand into new regions outside Latin America?

  • Are local Latin America banks willing to follow their corporates into new markets?
  • How can banks finance Latin American players expanding outside of the region?
  • A closer look at the multicurrency syndication made to buy Canada Bread and Tele Austria
  • What sectors are the Private Equity firm looking at and will we see more acquisitions being made?

Jaime C. Morales Vazquez, CFO Corporative, Grupo Kaltex
Nicolas Delamer, Director, Leveraged and Acquisition Finance, Americas, HSBC
Ignacio Lorenzo, Managing Director, Head of Structured Lending & Distribution, Santander Brazil

5.15pm Falling oil and gas prices: Who are the winners and losers?

  • How are the oil and gas prices affecting the Latin America energy market?
  • What impact will volatile oil prices have on the financing of oil and gas assets in Mexico?
  • Analysing the impact of Pemex’s new role in the Mexican oil & gas market after nearly eight decades as a government monopoly
  • What role is American shale gas play playing in Latin America’s energy market?

Robert Lee, Managing Director, MUFG
Rod Fraser,
Managing Director of Oil and Gas Latin America, MUFG

5.45pm Chairperson’s closing remarks followed by drinks reception

Day Two Agenda: Friday September 19th

8.45am Morning coffee

9.15am Chairperson’s opening remarks

09.30am New financing providers, regions and structures: What regions & sectors are ECAs and multilateral agencies targeting?

  • Are international banks looking to break into new syndicated loans markets and which ones? What value-added are they bringing to deals?
  • A closer look at deals done in the Caribbean, Paraguay, Uruguay and other “forgotten regions”: What is the benefit of going in to smaller markets and deals and how to syndicate in new markets?
  • Where can other financing providers work with commercial banks? Can the lending be combined to give the clients the full package?

Jozef Henriquez, Head of Syndications in the Structured & Corporate Finance Department, IADB
Ruhi Cosgun, Senior Investment Officer – Financial Markets, FMO
Juan Jose Garcia, Head of Syndications – LAC, IFC
Joanne Tognarelli, Chief Representative - South America at Export Development Canada, EDC
Peter Lütkebohmert, Vice President Infrastructure & Energy Latin America, DEG

10.15am The corporate's perspective on pricing: What are the main considerations when looking for financing?

  • Have local banks grown to service all financing needs or are international banks still the market leaders?
  • How important for corporates are local currency tranches in deals?
  • Loans vs bond: How do loans sit against the bond market and other financing instruments?
  • What sources of funding are most attractive to corporates in terms of pricing, structures and tenors?

Octavio Berron, Chief Financial Officer, Fermaca
Martin Oravec,
Vice President Structured Finance, Etrion Corporation
Juan Ignacio Cabrera Ermida,
Director, Invertax

11.00am LSTA Model Credit Agreement Provisions for Latin American Cross Border Transactions: Overview of the draft LSTA LatAm MCAPs and the rationale for their development

  • Review on the steps taken by the LSTA to enable growth
  • A deeper look at the creation and promotion of standard primary and secondary documentation
  • Analyzing the LSTA’s experience 
  • Discussing key issues that some Latin American jurisdictions encounter as their own syndicated loan markets grow

Moderator: Bridget Marsh, EVP and Deputy General Counsel, LSTA
Norberto Quintana, Partner, Holland & Knight

11.45am Morning refreshments and networking break

12.15 ATS Case study: Exploring the issuance of the longest dated Latin America greenfield project bond

  • Can project bonds emerge as a regional funding source for greenfield/merchant energy and infrastructure projects?
  • Analysing the success of the deal and the structure: How can project bonds be used as a financing tool in the syndicated loan market?
  • What can we learn from this deal and will we see more project bond?

Christopher P.B. Erckert, Partner, Mayer Brown

12.45pm Exploring the impact of the American shale gas revolution on the Latin American energy market

  • US shale as a significant and reliable source of natural gas and crude oil: What is the impact on Latin America?
  •  Is there sufficient investment in infrastructure and upstream development to make this shift to natural gas?
  • A closer look at the Los Ramones II Sur Pipeline Project and the pipeline deal with BlackRock and First Reserve in Mexico

1.15pm Chairperson’s closing remarks followed by lunch and close of conference