LMA Syndicated Loans Conference
LMA Syndicated Loans Conference
19 September 2017
QEII Centre, Broad Sanctuary, Westminster, London, SW1P 3EE
Over 900 delegates attended, with a further 300 watching by a live relay, the LMA's annual conference on Tuesday, 19 September, at The QEII Conference Centre in London. The conference continues to be the largest event for the syndicated loan market in EMEA.
It marked the LMA's 10th annual conference with the market remaining no less challenging for members as it did when the LMA held its inaugural conference. These challenges must be properly understood if they are to be effectively navigated, hence the theme of the day was "Navigating Change". The conference provided members with the perfect opportunity to hear key industry experts explore how best to navigate the issues impacting the syndicated loan market and how to maximise the opportunities.
The conference programme, as well as covering the primary and secondary loan markets, investigated opportunities in the developing markets, the future of the real estate finance market, the impact of new technology and an update on the latest regulatory developments.
Heads of Syndication panel: steering the market
Developing markets: finding safe harbours
Real Estate Finance in a post Brexit world: the winds of change?
Liquidity and efficiency: sailing into the wind
Regulatory panel: review of current position: headwinds and high seas
Video Session Clips
LMA Syndicated Loans Conference
19 September 2017
QEII Centre, Broad Sanctuary, Westminster, London, SW1P 3EE
Clare Dawson, Chief Executive – LMA
Roland Boehm, Divisional Board Member, Corporates International – Commerzbank& Chairman – LMA
What are the key issues impacting the loan market
Volumes, structures and pricing across the product, including IG and Levfin
Changes in the investor base and dynamics
What is the outlook for the future, trends, troubles and opportunities
Chair: Keith Taylor, Head of Loan Syndicate, EMEA – Barclays
Mathias Noack, Head of Syndications, EMEA – MUFG
Paul Gibbs, Co-Head, EMEA Loans and Acquisition Financing – Citi
Itziar Letamendi, Head of Loan Markets, Continental Europe – Banco Santander
Nick Jansa, Global Co-Head of Leveraged Debt Capital Markets – Deutsche Bank
Terence Shanahan, Global Head of Syndicate – SG CIB
Global, regional and national review of economic challenges and opportunities
Growth, inflation and interest rate trends
Impact on loan market
Chair: Professor Trevor Williams, Chair – IEA Shadow Monetary & Economic Consultant
Shamik Dhar, Chief Economist - Foreign and Commonwealth Office
Graeme Leach, CEO & Chief Economist – Macronomics
Christine Shields, Founder & Chief Economist – Shields Economics
Discussion on the lender/borrower dynamic
Competitiveness of the loan product
Sustainability of the relationship banking model
Yves Gerster, Global Treasury & Shared Services Director – Dufry
Matt Rhys-Evans, Director, Syndicated Finance – ING
Trends and challenges for developing market lending
Where are the opportunities in both the short and long term?
What do investors need to be aware of when lending to developing markets?
Chair: Edward George, Country Head, UK Representative Office & Head of Group Research – Ecobank
Constantin Von Moltke, Head of Syndicated Loans – Afrexim
Raouf Jundi, Managing Director – MUFG
Alper Kilic, Regional Head of Corporate Finance, Europe & Syndications, Europe & Africa - Standard Chartered Bank
Lorenz Jorgensen, Head of Loan Syndications – EBRD
Panel discussion on the current state of the UK real estate market
General availability of liquidity and market confidence post Brexit vote
Looking to the future: what might the impact of Brexit be for the real estate market in both the UK and Europe?
Chair: Sebastién Marcelin-Rice, Partner – Baker McKenzie
Russell Gould, Managing Director – Citi
Cyrus Korat, Partner – DRC Capital
David Phythian, Regional Head of Real Estate, London - HSBC Bank
Craig Prosser, Director – LBBW Real Estate Finance
Arron Taggart, Director – Cheyne Capital
A review of current terms which could impede operational efficiencies, causing a deterioration in progress made to reduce settlement times
Chair: Doug Laurie, Director – Barclays
Yasmine Bassili, Managing Director - Goldman Sachs
Charles Bennett, Co-Head of Loan Sales & Trading, Leveraged Finance - Credit Suisse
Ian Borman, Partner - Winston & Strawn
Steven Connolly, Vice President, Wholesale Lending Services, Middle Office - JPMorgan
James Slessenger, European Managing Director and Senior European Covenant Analyst – Xtract Europe
John Olesky, Managing Director, Head of Product Management – IHS Markit
Brexit - timeline and issues
Competition law - what you need to be know
ECB lev loan guidelines - interpretation and likely impact
Chair: Nicholas Voisey, Managing Director - LMA
Mark Campbell, Partner - Clifford Chance
Edward Chan, Partner - Linklaters
Christopher Kandel, Partner - Latham & Watkins
Greg Olsen, Partner - Clifford Chance
Phillip Souta, Partner - Clifford Chance
Supply/demand – how big is the imbalance?
Managing yield as spreads tighten – a journey down the credit curve?
Secondary liquidity – a scarce resource?
Chair: Sandra Veseli, Managing Director, Corporate Finance EMEA – Moody's Investors Service
Jonathan Bowers, Senior Portfolio Manager - CVC Capital Partners
Fiona Hagdrup, Fund Manager, Leveraged Finance Group – M&G Investments
Aly Hirji, Portfolio Manager - BlackRock
Robert Reynolds, Chief Investment Officer - Spire Partners LLP
Baker McKenzie has provided sophisticated legal advice and services to many of the world's most dynamic and global organizations since our founding in 1949.
We represent financial sponsors, corporate entities and financial institutions, and advise lenders and borrowers on every aspect of loan transactions from structuring, origination and negotiation to documentation and closing.
With a network of internationally experienced lawyers in 77 offices and over 670 banking and finance lawyers worldwide, we have extensive experience of working on cross-border and multijurisdictional financings, and have the ability to deliver the broad scope of quality legal services required to respond effectively to international and local needs.
Our lawyers, supporting professionals, and staff share common values of integrity, personal responsibility, and tenacity in an enthusiastic client-service culture. Our founders’ entrepreneurial spirit and demanding standards still guide us today. We constantly strive to forge close personal relationships among our professionals to foster the responsiveness and accountability clients expect.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg’s enterprise solutions build on the company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit www.bloomberg.com or request a demo .
Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, and the firm's ratings and analysis track debt covering approximately 120 sovereign nations, 11,000 corporate issuers, 21,000 public finance issuers, and 72,000 structured finance obligations.
CMS is the 6th largest law firm by lawyer headcount. Our 400 banking and finance lawyers, working across 70 offices in 39 countries, have the expertise and firepower to support you on your largest, most complex corporate and commercial finance transactions as well as providing day-to-day strategic advice across all your financings. We act for a full range of lenders, corporates and sponsors across the entire spectrum of financing transactions, including corporate loans, acquisition financings, real estate finance, infrastructure, asset and project finance. The merger between CMS, Nabarro and Olswang, effective 1 May 2017, has enhanced our finance offering to borrowers in our key sectors, as well as transforming what we can do for financial sector clients in areas such as fintech, funds, real estate and outsourcing. Our sector-based approach guarantees that you’ll be working with lawyers who really understand your business.
Our financing specialists offer a first class service to both lenders and borrowers across the spectrum of financing matters and products, from the plain vanilla to the most complex arrangements that challenge market norms.
We have a wide perspective on the market, advising both lenders and borrowers on investment grade and sub-investment grade financings. Our multi-specialist financing lawyers are involved from the start and can adapt to any financing scenario. Our teams are as lean as they can be, which makes transactions much easier to manage, speeds the process up and often saves money. Clients also benefit from our outstanding regulatory knowledge, which enables us to provide technically sound, creative solutions. This multi-specialist approach forms the bedrock of many of the innovative approaches we have taken to solving legal problems on different types of deal.
The majority of our financing transactions involve a cross-border element. We work closely with the leading independent law firms in the major financial centres to deliver the same first class service globally.
Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights we provide help investors to make important credit judgments with confidence.
Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; BMI Research, an independent provider of country risk and industry analysis specializing in emerging and frontier markets; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is majority owned by Hearst.
At ClearStructure Financial Technology, we offer cloud-based systems for both the buy-side and the sell-side markets. Our Sentry solution suite helps simplify your bank loan and private loan management while delivering total transparency.
Our portfolio management system, Sentry PM™, is a front-to-back office system which tracks loan investments from idea to trade to management and administration. In addition to loans, Sentry PM handles multiple asset types and fund structures including Hedge Funds, Direct Lending, SMAs and CLOs. For loan trading, we offer Sentry LT™, a powerful and flexible platform to improve efficiency in your trading operations. Sentry solutions are used by top financial institutions around the world for their loan trading and management needs.
Cortland’s investment professionals deliver independent administrative, analytical, and accounting solutions to institutional investors across the globe. Cortland’s loan services group provides loan administration, trade settlement, and fully featured administrative agency and successor agency services.
Cortland provides CLO Managers a comprehensive middle-and-back office solution to manage CLOS, SMAs, and funds. Services include hypothetical trade analyses, trade settlement, compliance and waterfall modeling, managing rating and pricing feeds, and bespoke management reporting.
HQ’d in London, Finastra is the largest FinTech in Europe – formed from the merger of Misys and D+H in 2017. With a client base of over 9,000 customers, including 48 of the top 50 banks globally, most at the LMA conference will be familiar with Finastra’s market-leading lending solution FusionBanking Loan IQ (used by 16 of the top 25 loan bookrunners).
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. We provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology.
Finastra. The future of finance is open.
GLAS is a global, independent, conflict-free provider of loan agency and corporate trustee services. We provide a front office approach to typically back office services and have expertise in handling complex transactions proactively, with speed and flexibility whilst focusing on customer service. GLAS is solution-driven with extensive experience working alongside our clients as an Agent on unitranche transactions. We are the Agent of choice on restructuring transactions where there is a need to change the Agent or Trustee. We are based in London, with offices in New York, New Jersey, Melbourne, Sydney and Singapore.