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Agenda Overview

Pre-Conference: Monday, March 11, 2019

5:30PM IJLATAM Welcome Reception sponsored by Allianz

Location: 1 Hotel South Beach, Rooftop Pool

9:00PM Latham & Watkins Cocktail Reception

Join the Latham & Watkins team for late night cocktails at Bâoli Miami where European party style meets South Beach’s shores.

Where: Bâoli Miami, 1906 Collins Avenue, Miami Beach FL 33139

Day 1: Tuesday, March 12, 2019

7:45AM Registration, morning refreshments and breakfast presentation: Calculating the huge un-priced risks in infrastructure projects

 

40%+ of all risks in infrastructure projects are not priced into LatAm infrastructure projects.

These include governance, political, O&M, regulatory, cyber, environmental, legal, cultural and other risks. As a result, infrastructure projects lose money at different points in their life cycles and risks explode.

A new method jointly offered by Management & Excellence and IJGlobal calculates the total infrastructure risk and helps actively manage and massively reduce these risks.

This presentation features gripping new data on Brazil.

Mathew Garver, President, Management & Excellence, SA
Dr. William Cox, CEO, Management & Excellence
8:45AM Chairperson’s opening remarks
Javier Fidalgo, Head of Project Finance Advisory, BBVA
8:50AM Market Analysis

IJGlobal’s welcome address and analysis of the Latin American market: Indispensable data for the
region’s investors and financiers

To open the conference, a senior member of our editorial team will provide a detailed analysis of the Latin American energy and infrastructure finance market, based on IJGlobal’s exclusive data to frame and contextualize the following discussions.

Angus Leslie-Melville, Editorial Director, IJGlobal
9:00AM The Big Debate!

Experts in the markets and region will take to the stage to discuss the “Big Question” in everyone’s mind:

“Is debt capital market financing heralding the death of traditional project finance in Latin America?”

Disclaimer: The views expressed in this debate by both sides are not necessarily the views held by those participating or the institutions they represent.

Dorian Calderon, Executive Director – Group Head Power & Renewables, Project Finance, Latin America, SMBC
Alejandro Olivo Villa, Associate Managing Director, Moody’s Investors Service
Abraham Prada, Vice President, Investment Banking, J.P. Morgan
Bernardo Andrews, CFO, Genneia
Aitor Alava, Managing Director - Head Infrastructure Finance Latin America, Natixis
9:45AM Financiers’ Discussion

Financing Latin America: Analysing the new dynamics of the region’s debt markets and evolved
financing solutions available to project sponsors

• To what extent is there tension between the bond and loan markets? How much opportunity for cooperation is there?
• How are commercial banks adapting to the evolving needs of project sponsors to remain competitive to provide financing?
• Enabling and educating sponsors on the most appropriate financing option for their projects
• What are the greatest challenges lenders are facing to deploy capital in the region, and how are they looking to overcome these obstacles?
• Public bonds vs. private placements: Understanding the benefits for sponsors of both solutions
• Speeding up financing processes: What can be learnt from the experience of more developed markets?

Moderator: Christopher Erckert, Partner, Mayer Brown LLP
Clemente Del Valle, President, FDN
Javier Rodriguez de Colmenares, Chief, Infrastructure and Energy Division, IDB Invest
Eric Wittleder, Vice President, Brookfield Asset Management
Leonardo Osorio, Executive Director and Head of Natural Resources, SMBC
Ralph E Scholtz, Managing Director, Project Finance, MUFG Bank Ltd.
10:30AM Institutional Investors panel

With their role in the market taking on an increasing significance, what is the outlook of
institutional investors for Latin America and where are they looking to capitalize?

• How do investment opportunities in Latin America compare to that of the US and Europe for institutional investors?
• How can banks best collaborate with institutional investors to fund deals?
• Questioning the appetite of institutional investors to finance deals on a long term basis: What doors might this open?
• Are institutional investors here to stay or will we see a step back when opportunities in more stable markets re-emerge?
• Comparing approaches taken by different institutional investors

Moderator: Dorina Yessios, Partner, Allen & Overy LLP
Jean-Bastien Auger, Senior Director, Public Sector Pension Investment Board
Ernesto Mata Mayrand, Investment Executive, Infrastructure, InfraRed Capital Partners
Juan Pablo Raffetto, Director - VP Head Latam Infrastructure, MetLife
Ricardo Diaz, Managing Director, Head of Americas, Cubico Sustainable Investments
Paul David, Head of Americas, Allianz Global Investors
11:15AM Morning refreshments
11:45AM Post-Election Shake down

The post-elections shake down: What implications do the results of the 2018 Latin American
elections have for energy and infrastructure development in the years to come?

• Should we expect to see a major alternation in deal flow and project pipelines in the new
political landscape and, if so, how soon?
• Scrutinizing how investor confidence in the region has been effected by the election results
• How committed are the new administration’s to engaging in new large scale PPP’s?

Moderator: Sean Goldstein, Partner, White & Case LLP
Pablo Lutereau, Managing Director & Latin America Head, Infrastructure Ratings, S&P Global Ratings
Guillermo Ortiz, Director - Project Finance, MUFG Union Bank, N.A.
Luis Fernando Perdigon, Head of Project Finance Latin America, SMBC
Mauricio Teixeira dos Santos, Founding Partner, Cescon, Barrieu, Flesch & Barreto Advogados
12:30PM Keynote Address: Quo Vadis, Latin America? Uncertainty in a Changing Region The former Prime Minister of Spain assesses an uncertain political and economic landscape in Latin America and offers insights into where the region may be headed.
  • What clues do the policy agendas of recently-elected governments offer as to the direction the region will take?
  • With all eyes on Venezuela, is there room for optimism about the country’s future?
  • Are there any signs that renewed efforts to strengthen regional economic integration will succeed?
  • How is the region reacting to China’s increasing influence?
  • Is it possible to make predictions about Latin America within the current climate of uncertainty? How can foreign investors read the political tea leaves and make informed investment decisions on the region’s future?
President José María Aznar, Former Prime Minister of Spain and Special Advisor to Latham & Watkins LLP
1:00PM Networking lunch

STREAM A

2:15PM Brazil’s financing paradigm

A closer look at the unique financing paradigm in Brazil: Is the market deep enough to allow for BNDES to take a step back from the table?
• Has the presidential change in Brazil altered BNDES’s overall strategy? How is the country’s political situation perceived internally and externally?
• How successful have debentures proved as a source of alternative financing in Brazil? Is their scope to expand the purchasing pool of those buying debentures?
• Exploring the co-financing options being promoted by BNDES and the benefits this brings
• Is there scope for international banks to take an active role in the development of Brazil’s energy and infrastructure?

Moderator: Pablo Sorj, Partner, Mattos Filho
Victor M Muñoz, Operating Partner, Latin America, Denham Capital
Guilherme Martins, Department Head of Debt Capital Markets, BNDES
Edson Ogawa, Managing Director, Head of Project Finance, Banco Santander Brasil
Pablo Otin, CEO, Powertis
Eduardo Klepacz, Department Head of Debt Capital Markets, GTIS Partners
3:00PM Risk and return in Latin America

Addressing risk and return in Latin America: What will be the main drivers of investor confidence during 2019 and to what extent will they be impacted by recent corruption scandals in the region?

  • What have been the main factors affecting investors’ assessment of risk and returns in recent years? How different will the drivers of investor confidence be in 2019?
  • Will investor confidence respond principally to global trends or will domestic issues be the main focus?
  • What are the main risks facing investors in energy and infrastructure in the region and what are the main opportunities? How do these vary across jurisdictions and industries?
  • What modifications are needed to qualm investor concerns on corruption risk and move projects to financial close?
  • What have we learnt from the process to overcome Lava Jato in the past, and can its lessons be implemented again? What can we expect will happen to projects mentioned in the notebook scandal?
  • What are the principal policy initiatives that may affect investor confidence in the region? Can governments be expected to take swift action to mitigate the impact of corruption and avoid its emergence in the future?
Moderator: David J Penna, Partner, Latham & Watkins LLP
Lian Phua, Vice President & Senior Underwriter, Political Risk, Credit and Bond, AXA XL, a division of AXA
James Rickert, Senior Vice President, Investments Infrastructure, Brookfield Asset Management Inc.
Rafael Berckholtz, Partner, Estudio Echecopar (Baker McKenzie International)
Jaya Viswanadha, Managing Director, Credit Agricole
3:45PM Mexican Energy Debate

Can the Mexican power market continue to develop and grow at such an impressive rate?

  • Expectations for/analysis of power auctions
  • Examining the increasing trend towards the development of gas-to-power projects in Mexico
  • How can we move winning projects from the renewable energy auctions to financial close more efficiently?
  • Exploring the evolving relationship between PEMEX and the private sector in Mexican oil and gas
  • How busy should we expect the secondary market to be for Mexican power assets, with a number of investors reaching the conclusion of the invest cycles?
Moderator: Raquel Bierzwinsky, Partner, Norton Rose Fullbright
Gregory M Remec, Senior Director, Fitch Ratings
Ricardo Diaz, Managing Director, Head of Americas, Cubico Sustainable Investments
Benigno Villarreal Del Rio, Director General, Vive Energia
Rafael Villergas, Director, ING
4:30PM Refreshments and networking
5:00PM M&A Outlook

Scrutinising increased M&A activity and the influence of continued Chinese investment across Latin America
• Should we expect to see M&A activity continue at the same rate or, indeed, accelerate as sponsors reach the end of their invest and flip cycles?
• Working with investors who are new to the region: Understanding the need for education on the intricacies and complexities of the Latin American market
• What are Chinese investors looking for in project profile, and what impact does their very long term have on this?
• Where are the greatest opportunities for those looking to grow, and which players should we expect to see as the most active in the secondary market?

Moderator: Oscar Arrus, Partner, Garrigues
Rafael Valdez Mingramm, Managing Director of Latin America & the Caribbean, Envision Energy
Vinicius Nishioka, Deputy Chief Finance Officer, Xingu Rio Transmissora de Energia (State Grid)
Jinping Tang, Finance Director, Autopistas Uraba
5:45PM Green Financing

Green Financing in Latin America: Are green bonds delivering value for project sponsors and should we expect the deployment of green loans as an alternative source of financing?
• How much demand is there for green financing from an investor perspective?
• Exploring whether meeting the prequalification standards to attain certification is worth the investment oftime and resource
• How do green bonds compare to green loans as financing solutions for investors?
• Which projects are best suited to access green financing?

Moderator: Alberto de la Parra, Partner, Jones Day
Michael Shea, Head of Structured Finance, Atlas Renewable Energy
Jean-Valery Patin, Head of Power, Infra & Project Finance Latam, BNP Paribas
Marcos F Meireles, Chief Executive Officer, RioEnergy

STREAM B

2:15PM Colombia’s renewables ambitions

A light at the end of the tunnel? Is Colombia able to move on from Ituango through the development of its ambitious renewables programme?
• How confident is the market that the renewables programme will succeed and projects will be bankable?
• Is there scope for the development of thermal solutions to meet the country’s power requirements?
• What regulatory reform is needed to enable the renewables program to flourish?
• Evaluating whether USD financing is needed to facilitate the scale of planned development
• What lessons can be taken from 4G to best implement another major program of development in Colombia?

Moderator: Fernando Cubillos, Head Energy, IDB Invest
Clemente Del Valle, President, FDN
Patricia Arrazola, Partner, Partner, Gómez Pinzón, member of Affinitas
Juan Esteban Hernández, Country Manager, Martifer Renewables
Mauricio Posse, Head of Project Finance Colombia, BBVA
3:00PM Transportation

How can investment in transportation attain similar levels of success as we have seen for energy in recent years?

• Highlighting key transportation developments across Latam?
• What can countries do from a regulatory perspective to facilitate more efficient infrastructure development?
• What are the most important considerations in terms of project structuring?
• Reaction of international players to project cancellations, such as of the new Mexico City Airport
• What is considered a good investment environment for European sponsors?
• Challenges for financing transport PPPs
• Advantages/Preference for financing for PF deals (bonds vs banks)

Moderator: Pedro García Morales, Partner, Garrigues
Santiago  de Eguía Díaz de Rada, Head of Structured Finance, Sacyr Concesiones
Miguel Pena Azpilicueta, Head Of Project Finance Americas, BBVA
Candela Macchi, Director, Infrastructure Ratings, S&P Global Ratings
Jaime Crosby, Gerente General, Aleatica
Michael Schuett, VP and Head of Finance, Fraport AG
3:45PM Pushing Peru’s infrastructure pipeline
  • What can be done to reinvigorate Peruvian energy and infrastructure and bring the proposed development pipeline to market?
  • Lifting political roadblocks to re-establish investor confidence
  • Changes in the PPP model and the new way the government is looking to manage project risk
  • Outlook for the infrastructure pipeline: What are key developments and how will they be financed?
  • How much positivity and momentum can be taken from Peru’s secondary market activity  
  • How great of a need is there to reform regulation on renewables to enable investment?
  • Exploring the steps to relaunch the Southern Peruvian gas pipeline project 
Moderator: Sami Mir, Partner, Allen & Overy
Angelo Coppacchioli, General Manager, Ergon Perú, a company of TozziGreen
Dennis Gray F., Chief Financial Officer, Graña y Montero Infrastructure
Enrique Felices, Partner, Miranda & Amado, member of Affinitas
Carlos Lopez Rabadan, Head Project Finance Peru, BBVA
4:30PM Refreshments and networking
5:00PM Chilean infrastructure financing

Does Chile provide the blueprint for other countries in the region looking to maximise local currency funding for projects?
• Why has Chile had such success in implementing long term financing?
• How is the administration forwarding the ‘Infrastructure Plan’ and what projects take priority?
• Assessing the appetite of foreign investors for Chilean infrastructure assets: How do they perceive the market and what are their strategies for participation?
• Details of the ‘Infrastructure Fund’ and expected impact on the market

Harken Jensen R, Executive Director, Corporate and Investment Banking, Santander Global Corporate Banking
Marcela Allué Nualart, Gerente General, COPSA
Andres E Onetto, Head of Project Finance, Scotiabank Chile
5:45PM Perspective on the Latin American market

Does Latin America offer the best alternative for European and US players looking to deploy capital, with limited investment opportunities available in their own regions?
• Understanding the mind-set of foreign investors as they assess the risk/reward dynamic of working in the region
• How are Latin American countries looking to attract foreign investment?
• Do governments and regulators need to do more to adjust frameworks to enable foreign investors to enter the market?
• Analysing the need for internationalplayers to help fill the region’s financing gap
• Educating new market participants on the particularities of working in individual countries in Latin America

Moderator: Dan Bartfeld, Partner, Milbank, Tweed, Hadley & McCloy
Goncalo Bernardo, Director, OMERS Infrastructure
Ana Maria Vidaurre, Regional Director, Investments - Latin America Infrastructure, CDPQ
Mario Fernandez, Head of Latin American Energy Principal Investments, Macquarie Capital
Alex Yew, Managing Director, Latin America, John Laing
5:00PM Deep Dive Roundtable- Value for Risk VfR in infrastructure: The nitty-gritty of calculating un-priced risks in infrastructure projects"

This session takes the breakfast presentation a few steps further, presenting how you can use Value for Risk VfR to support your projects, whether you are conducting the due diligence on a new project, assessing whether to invest in an infra project, valuing infrastructure assets, or working the legal aspects of an infrastructure project.

Dr. William Cox, CEO, Management & Excellence
Mathew Garver, President, Management & Excellence, SA
6:30PM Stream Chairs' closing remarks
6:35PM Cocktail Reception co-sponsored by Jones Day and S&P Global Ratings

Location: 1 Hotel South Beach, Private Beach

Day 2: Wednesday, March 13, 2019

8:30AM Morning refreshments

STREAM A

9:15AM Chairperson’s opening remarks
Juan Picón, Latin American Practice Co-Head, Latham & Watkins LLP
9:30AM Argentina on the Offensive

Exploring the benefits of the government’s approach to continue to drive forward the county’s energy and infrastructure program

  • To what extent is Argentina’s macroeconomic outlook on the rise thanks to the IMF’s involvement?
  • Whilst government trust financing has ensured construction continues on projects as an interim solution, how quickly can these projects be brought to financial close?
  • How effectively has the government dealt with investor concerns?
  • Renewables outlook: Expectations surrounding Renovar3
Moderator: Juan Payeras, Chief Investment Officer, IFC
Tomas Darmandrail, Director of Infrastructure, Banco de Inversión y Comercio Exterior - BICE
Marcelo Bretón, Financial Director, Ventus Energia
Gonzalo Ranea, Head of Corporate and Project Finance, Distrocuyo
Gregory Cardenas, Senior Director, Project & Structured Finance – Latin America Energy Group, Canadian Solar Inc.
10:15AM Stimulating renewables development

Stimulating the development of renewables: Which countries are best placed to accomplishtheir MW targets?
• Having seen arguably aggressive bidding from projects sponsors for the past few years, have returns got too low and do we expect pricing to rise again in the coming year?
• What role do corporate PPAs play in renewables strategy regionally?
• What is going to happen to the planned renewables projects that can’t get financed?
• A closer look at the Colombian market: Is this the most exciting country for investment in the sector at present?
• How much investment is needed in transmission infrastructure to sufficiently upgrade the network and facilitate the development of renewables?

Moderator: Horacio de Uriarte, Partner, Mijares, Angoitia, Coretes y Fuentes
Nicolas Navas, Director, Project Finance, Jenner Renewables
Bartley Doyle, Chief Operations Officer, Mainstream Renewable Power
Francisco Diez Quiralte, Head Of Business Development, LATAM, Energy Group, Canadian Solar
11:00AM Refreshments and networking
11:30AM Desalination case study
  • Highlighting key desalination projects in Latin America. What is the future potential for desalination linked to mining, agriculture, human use
  • Environmental concerns about desalination projects and technological improvements
  • Overcoming permitting, technical and financing challenges
  • Best solutions for financing desalination with a focus on the Spence desalination project
  • Lessons from the Spence desalination project
Moderator: Juliana Ennes, Americas Senior Reporter, IJGlobal
Sean O’Neill, Associate, Milbank, Tweed, Hadley & McCloy
Guillermo Ortiz, Director - Project Finance, MUFG Union Bank, N.A.
John Tonner, Evp & Chief Commercial Officer, Consolidated Water Co Limited
12:15PM Privatizations and Concessions in Brazil: a new future?
  • Discussing Brazil’s new government’s strategy for infrastructure concessions and the new opportunities 
  • Assessing the implications of the new administration’s divestment activities for the Brazilian infrastructure and energy markets 
  • International versus local buyers: Who is looking to buy these lucrative assets and how will changes in local content requirements influence this? 
  • Adjusting the bidding processes to account for transparency and encourage competition 
  • Assessing financing alternatives for the future projects and acquisitions 
  • Will we see further privatization of assets across Latin America?   
Moderator: Marina Anselmo Schneider, Partner, Mattos Filho
Rafael Matas Trillo, Lead Investment Officer, Infrastructure And Energy Division, IDB Invest
Guilherme Alice, Head of Specialized Finance, SMBC
Marcelo Barros da Cunha, Secretary of Transportation, Investment Partnership Program, Presidency of the Republic of Brazil
James Rickert, Senior Vice President, Investments Infrastructure, Brookfield Asset Management Inc.

STREAM B

9:15AM Chairperson’s opening remarks
Antonio Del Pino, Latin American Practice Co-Head, Latham & Watkins LLP
9:30AM New perspectives & opportunities in Brazilian Infrastructure & Energy
  • Rationale and achievements of the Brazilian Investment Partnerships Program (IPP)
  • Status of the IPP portfolio
Marcelo Barros da Cunha, Secretary of Transportation, Investment Partnership Program, Presidency of the Republic of Brazil
10:00AM Perspectives of the Mexican market

How confident is the market that that the proposed Mexican infrastructure program can be successfully implemented? 

  • What impact do we expect the new administration to have on forwarding the Mexican infrastructure agenda?
  • What are the most pressing areas for infrastructure investment?
  • How are project cancellations or delayed being perceived by investors?
  • With various renewables projects in the country struggling to reach financial close, how can this situation be avoided from an infrastructure perspective?
  • Local vs. international finance: Evaluating the most appropriate financing methods
Moderator: Ariel Ramos, Partner, Mayer Brown LLP
Agathe Vigne, Head of Business Development LATAM, EGIS Projects SA
Luis Dosal, Head of Project Finance, BBVA Bancomer
Diana Muñozcano, Vice President, Infrastructure, Grupo Indi
10:45AM Sustainable Mobility Alternative in Urban and Touristic Transportation Systems
  • How can alternative transport solutions and what are the benefits for local populations?
  • Financing sustainable mobility: Creating  successful PPPs and attracting investment
  • Case study – Telecabinas Kuelap – Touristic PPP Project in the Amazon Region of Perú
Viviana Castillo, CEO, Telecabinas Kuelap
11:00AM Refreshments and networking
11:30AM Focus on Project Bonds

Comparative analysis of project bonds across Latin America

  • Assessing bond structures, formation and interplay with other types of financing
  • Considering the contribution of project bonds and the expected potential for funding projects across the region
Moderator: Alberto Faro, Partner, Machado Meyer Advogados
Vinicius Nishioka, Deputy Chief Finance Officer, Xingu Rio Transmissora de Energia (State Grid)
Jorge Camina, Director, Infrastructure Debt, AllianzGI Infrastructure Debt
Georg Schaefer, Manager Project Finance, Fraport AG Airport Services Worldwide, Fraport AG
Nikola Simic, Director, BlackRock Inc
João Carneiro, Head of Infrastructure Finance, Brazil, ING Brazil
12:15PM Multilateral discussion

Digging into the role and significance of multilateral, development bank and state supported funding across Latin America
• How are multilaterals looking to unlock the potential of countries that need their support the most?
• Assessing the scale and availability of development banking financing in the coming years
• Are development banks impacting commercial lenders’ ability to participate in deals due to aggressive pricing?
• Promoting increased co-operation: Exploring IDB’s evolved product offering of providing guarantees and how it can boost international investment
 

Gian Franco Carassale, Principal Investment Officer, IDB Invest
Ramon Candia, Managing Director, Cifi
Paul Centeno Lappas, Regional Head, Mexico, Central America And Caribbean, Proparco
Miguel Toledo, Chief Investment Officer - Infrastructure, International Finance Corporation
1:00PM Stream Chairs' closing remarks
1:05PM Networking lunch