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Agenda Overview

Day 1: Tuesday, December 6, 2016

8:15AM Registration and coffee
9:00AM Chairperson’s opening remarks

Edward Eyerman, Managing Director, Head of European Leveraged Finance, Fitch Ratings

9:15AM Keynote address: Brexit, ECB bond purchases and negative rates: The macro impact on Nordic high yield

• Enduring macroeconomic uncertainty in a globalising Nordic market

• Prospects for new issues and internationalising investor demand

• The latest EU directives and how they affect Scandinavian markets

Johan Javeus, Chief Strategist, Head of Research & Strategy, SEB
9:45AM Kick-starting a ‘pan-Nordic’ High Yield Bond market: Identifying the best method
  • Creating an attractive market for potential issuers despite a cheaper bank market
  • Facilitating a more dependable and stable investor base
  • Which sectors exemplify the move towards a pan-Nordic market?
  • Paving the way towards consistent, standardised documentation
  • How desirable is the ‘Europeanisation’ of Nordic deal structures?
Markus Wirenhammar, Head Of Debt Capital Markets, Pareto Securities
Carlo Lugani, Head of High Yield & Convertibles, SEB Merchant Bank
Einar Unhjem Johansen, Head of HY Origination & Debt Advisory, Investment Banking, Swedbank
Niklas Ekman, Director, Corporate DCM, Nordea
Stefan Ericson, Portfolio Manager, Pareto Asset Management
10:30AM Morning refreshments and networking break
11:15AM Building on growing real estate issuance: Can it indicate wider sectoral growth in high yield?
  • Evaluating demand for diversity from bondholders in the face of sustained oil price volatility
  • Will more favourable pricing encourage new issues?
  • Impact of investor hunt for yield on real estate issuance
  • Do burgeoning numbers of Swedish transactions translate to the rest of the Nordic market?
Lisa Gundy, VP, Senior Covenant Officer, Moody's Investors Service
Rutger Arnhult, CEO, Klövern
Leiv Synnes, Chief Financial Officer, Akelius Residential Property AB
Johan Varland, CFO, Tobin Properties
Jacob Bruzelius, Group Treasurer, Rikshem
12:00PM A fast expanding investor base: Building consensus on terms, mandates and investor security
  • Importing influence from US & European style terms
  • What role do shadow ratings play in influencing investor interest?
  • Does a widening investor base guarantee a widening issuer base?
  • How can investors influence documentation to create more diverse mandates
  • Incurrence vs maintenance covenants: Which is more conducive to increasing investor demand?
  • How much security are investors willing to sacrifice to enter the market?
Nils Hast, Senior Portfolio Manager, ODIN
Martin Reeves, Global Head Of High Yield, Legal & General
Stefan Wigstrand, Senior Portfolio Manager, Catella Fondforvaltning
Roberto Pozzi, Vice President – Senior Credit Officer, Moody's Investors Service
12:45PM Networking lunch
2:00PM To what extent would “Europeanised” deal structures incentivise issuers to tap the bond market?
  • Adapting funding and capital structures to incentivise investor demand
  • Building a subscriber base for bond issues in the face of more expensive bank lending
  • Is a smaller amortizing piece in the capital structure a key feature for borrowers?
  • Achieving favourable pricing amidst macro uncertainty
Mikael Lundström, Head of Fixed Income, Evli Asset Management Company Ltd.
Gunilla Spongh, CFO, Preem
Dean Zuzic, CFO, Norsk Gjenvinning Norge AS
2:45PM Establishing optimal restructuring procedures for Norwegian oil services: Creating borrower flexibility

 

  • How has pricing affected the holding strategy of investors for oil-services assets?
  • Options for restructuring transactions: Debt-Equity swaps; recaps; rights-issues
  • How do banks extract the best value out of balance sheet when restructuring?
  • Is the oil services sector overdue for consolidation?
Hilde Dronen, CFO, DOF ASA
Morten Astrup, Founding Partner/CIO, Storm Capital
Simon Redmond, Director, S&P Global Ratings
3:30PM Afternoon refreshments and networking break
4:00PM Presentation: Outlook for OSV companies: How is the market changing in the face of ongoing restructurings?
  1. Hilde Drønen, CFO, DOF
4:30PM Presentation: The Emergence of Private Debt: Structural Features and Advantages in Direct lending
  • Overview of the private debt market in Europe and Scandinavia
  • Are we seeing a diversifying range of private debt products on offer?
  • Structural features and advantages of private debt
  1. Mark Jochims, Principal Private Lending, BlueBay Asset Management
5:00PM How will the growth of direct lending compliment a growing bond market? Is it a competitor?
  • How are lenders responding to diversifying liquidity sources for Nordic borrowers?
  • What structures are available for Nordic borrowers seeking alternative lending?
  • Lending covenants in the institutional market: What are the advantages to borrowers?
  • Is growth in lending resources symbolic of an internationalising market?
Gina Germano, Managing Director, Hayfin Capital Management
Mark Jochims, Principal Private Lending, BlueBay
Edward Eyerman, Managing Director, Fitch Ratings
Magnus Lindquist, Co-Managing Partner, Cordet Capital Partners
Carl Helander, Managing Director, Ares Management
5:45PM Chairperson’s closing remarks followed by cocktail reception

Day 2: Wednesday, December 7, 2016

8:45AM Networking and coffee
9:15AM Chairperson’s opening remarks
Marie Elvesol, VP – Head of Relationship Management, Moody’s Investors Service
9:30AM What role can private equity play in helping to diversify the high yield market?
  • Drivers for bond-driven acquisition and infrastructure finance
  • Can the bond market realistically compete with the leveraged loan market?
  • Is M&A volume overly dependent on a strong oil price?
  • Term Loan B has an alternative to the HY market for PE-driven issuance
James Yu, Partner, EQT Partners
David Kalis, Head of Leveraged Finance Syndicate, Nordea
Christof Ratjen, Principal, Nordic Capital
Jari Lindholm, Head of Banking, Triton Partners
Ville Talasmäki, Portfolio Manager, Sampo
10:15AM Facilitating a healthy secondary market: Does greater diversity mean greater liquidity?
  • How are bondholders responding to initiatives to bring greater transparency?
  • Are Nordic banks equipped to pair buyers and sellers on an agency basis?
  • Do e-trading solutions have a role to play in creating a stable high yield market?
  • With greater warehousing costs for banks, can investors make markets & prices?
Peter Werleus, Partner, Fund Manager, Norron
Wilhelm Hogstrom, Portfolio Manager, Credit Fixed Income, SEB Investment Management
Bodil Cathrine Østby, Senior Vice President Fixed Income, Oslo Bors
11:00AM Expensive debt or cheap equity? Exploring drivers for hybrid issuance and investor base growth
  • Are corporates convinced of the flexibility offered by hybrid-driven equity?
  • Are hybrids still seen as ‘last resort’ lending?
  • Exploring prospects for hybrid-driven acquisition financing
  • Defining investor appetite for higher than average yields on hybrid coupons
Christine Rovelli, Vice President - Group Treasurer, Finnair
Magnus Kihlgren, Director, Fixed Income, Carnegie Investment Bank
Jani Koivula, Global Head of DCM Origination, OP Financial Group
11:45AM Morning refreshments and networking break
12:15PM Roundtable discussions

Regional & sectoral roundtable discussions, each hosted by an industry specialist. This structured networking opportunity allows you to put your questions directly to the host and stimulate discussion among delegates.

  • Restructurings: Oil Producers and Services Companies - Simon Redmond, Director, S&P Global Ratings
  • Norwegian sectoral diversity - Susan Liow, CFO, DigiPlex
  • Private Equity - Carlo Lugani, Head of HY & Convertible Origination, SEB
  • The Swedish HY Market - Markus Wirrenhammar, Head of Debt Capital Markets, Pareto Securities
  • Macro Drivers of European Leveraged Credit - Edward Eyerman, Managing Director, Head of European Leveraged Finance, Fitch Ratings
Markus Wirenhammar, Head Of Debt Capital Markets, Pareto Securities
Susan Liow, Chief Financial Officer, Digiplex
1:15PM Chairperson’s closing remarks followed by lunch and close of conference