Dangers and Opportunities in a Changing Loan Market

* Topics and speakers are subject to change

7:30 a.m. – 8:15 a.m.
Registration and continental breakfast


8:15 a.m. – 8:30 a.m.
Welcome and opening remarks

Ioana Barza
Vice President, Senior Market Analyst
Thomson Reuters LPC

Conference chairs:

Colm Doherty
Vice President, Senior Market Analyst
Thomson Reuters LPC

Faris Khan
New York Bureau Chief
Thomson Reuters LPC

8:30 a.m. – 9:30 a.m.
A tour de force: the past, present… and future of the global loan market
Presentation by Thomson Reuters LPC

	A look back at this year’s biggest changes in the loan and capital markets
	A look at current volumes, terms and conditions, across the regions
	A look ahead – how might today’s dynamics shape the market tomorrow?

Ioana Barza
Vice President, Senior Market Analyst
Thomson Reuters LPC

9:30 a.m. – 10:15 a.m.
How long will loan spreads be elevated and why?
Sponsored by CIFC

	Market technicals: likely interaction of demand with supply?
	The cycle: how will defaults, recoveries and the economy impact vintage and new loans?
	Secular change: what investor base will follow the elimination of the “shadow banking system” and ongoing pressure on banks?

Moderator:
Peter Gleysteen
Chief Executive Officer and Chairman
CIFC

Andy O'Brien
Managing Director and Co-Head Syndicated & Leveraged Finance
JP Morgan

Scott H. Page, CFA
Vice President, Head of Bank Loan Investment Group
Eaton Vance

William C. Repko
Senior Managing Director
Evercore Partners

Tim Storms
Managing Director and Head of Credit Risk Management
JP Morgan

10:15 a.m. – 10:45 a.m.
Morning break and refreshments

10:45 a.m. – 11:30 a.m.
High grade on a high wire?
Sponsored by Barclays Capital

	What can borrowers expect when it's time to refinance?
	What is the outlook for M&A transactions?
	What are the pitfalls, successes of Market Based Pricing? Will it survive?

Moderator:
Jonathan Burn
Managing Director, Head of High Grade Loan Syndicate
Barclays Capital

Thomas D. Cassin
Managing Director, Syndicated & Leveraged Finance
Head of High Grade Loans
J.P.Morgan Securities Inc.

Robert A. Danziger
Head, Investment Grade Syndicated Finance, Americas
Deutsche Bank Securities, Inc.

Andrew Gamble
Managing Director, Head of Investment Grade Loan Syndication
Wells Fargo Securities

Peter C. Hall
Managing Director, Head of Investment Grade Loan Syndications, Americas
Banc of America Securities LLC

11:30 a.m. – 12:15 p.m.
The aftermath: Shedding light on the road ahead for investors
Sponsored by BMO Capital Markets

	Secondary loan prices have climbed sharply from their lows, is this rally sustainable?
	Where are the opportunities in the distressed market?
	What will the investor base look like going forward?

Moderator:
Surjit Rajpal
Executive Managing Director, Global Head of Loan Products, Leveraged Finance & Merchant Banking
BMO Capital Markets

Anthony Clemente
Founder and Chief Investment Officer
Canaras Capital Management, LLC

Mark du Four
Managing Director
Newstar Financial

Mark Gold
CEO/CIO
HillMark Capital Management

Jack Yang
President
Credit Strategy Consultants, LLC

12:15 p.m. – 1:25 p.m.
Luncheon Keynote Address:
Tackling the refinancing cliff
Sponsored by The Royal Bank of Scotland

	Addressing near-term maturities in difficult market conditions
	The importance of the bond market (Investment Grade and High-Yield) in the functioning of the loan markets over the next year
	Can the bank market address the maturity issue on its own?

Tom Bausano
Managing Director
RBS Debt Capital Markets

Douglas P. Harmon
Managing Director and Co-Head of Loan & High Yield Markets
RBS Loan and High Yield Markets

Steven Killilea
Managing Director and Co-Head of Loan & High Yield Markets
RBS Loan and High Yield Markets

Matthew Siegel
Senior Vice President, Treasurer
Time Warner Cable, Inc.

Rose White
Director - Loan Syndicate, Americas
RBS Syndicate Loans



1:30 p.m. - 2:30 p.m.
Fables of the Reconstruction: The "Ins" and "Outs" of Financing in a Distressed Marketplace
Sponsored by Winston & Strawn

	DIP financings — nuances, obstacles, and incentives
	What are lenders' options in a hung exit situation?
	Out-of-court restructuring: Lessons learned in engaging and finding agreement among constituents
	Financing in a post-restructuring environment

Moderator:
Loren Weil
Partner
Winston & Strawn

Bill Brewer
Partner
Winston & Strawn

James Hallock
Managing Director, Restructuring Finance Group
GE Capital

David Neier
Partner
Winston & Strawn

Gary Lembo
Managing Director
CRG Partners


2:30 p.m. - 3:15 p.m.
Where are we on the road to recovery?
Sponsored by Moody's Investors Service

	Which industries are leading and lagging the cycle?
	What factors might signal turning points in key industries?
	What are the risks to a sustained or strong recovery?
	How are defaults and loss-given-default different in this cycle?

Moderator:
Steven Oman
Senior Vice President
Moody's Investors Service

Joyce C. DeLucca, CFA
Managing Principal & CIO
Kingsland Capital Management

John Hayes
Executive Director, Co-Head of Senior Loans
Morgan Stanley

Glenn L. Stewart
Head of Americas Loan Syndications
Bank of America Merrill Lynch



3:15 p.m. - 3:30 p.m.
Afternoon break and refreshments
Sponsored by Sabharwal , Globus & Lim LLP


3:30 p.m. - 4:15 p.m.
CLOs under pressure and challenges ahead
Sponsored by Fitch Ratings

	Collateral Challenges: Declining loan recoveries, amendment trends, refinancing risk
	Structural Challenges: EODs, discounted securities and analytical alternatives
	Market Challenges: Timing of market recovery; possibility of TALF for corporate assets

4:15 p.m. - 5:00 p.m.
After more than two years: How are loans holding up?
Sponsored by Standard & Poor's

	Credit Performance: What is the Outlook for Default and Recovery?
	Market Performance: Will the Loan Market Survive? In what Form?
	What Role will new Investors or Products Play?

Moderator:
William Chew
Managing Director, Corporate and Government Ratings
Standard & Poor's

Mark A. Campellone
Managing Director, Portfolio Manager
New York Life Investment Management LLC

Jonathan Insull
Managing Director
Trust Company of the West

Linda Pace
Managing Director and Leveraged Loan Portfolio Manager
Carlyle Group

Scott H. Page, CFA
Vice President and Head of the Bank Loan Investment Group
Eaton Vance


5:00 p.m. - 5:15 p.m.
Concluding remarks

Maria Christina Dikeos
Vice President, Senior Market Analyst
Thomson Reuters LPC


5:15 p.m. - 7:00 p.m.
Cocktail reception
Meet and network with conference attendees including corporate treasurers, CFOs, institutional investors, senior bankers, attorneys, rating agency representatives and other key players in the commercial loan and high yield markets.