Brazil`s leading credit markets event
Transcription
Brazil`s leading credit markets event
Brazil’s leading credit markets event Bonds & Loans continues to exceed. Complete panels, senior speakers and great attendance. A must attend event for bankers and issuers. Nicole Carnizelo, Société Générale BOOK BEFORE 27th MARCH AND SAVE $600 www.bondsloansbrazil.com Lunch sponsor 2015 sponsors Gold Sponsors Lunch Sponsor Cocktail Sponsor Silver sponsors Silver Sponsors Bronze Sponsors Organised by Supporting Organisation Airline Sponsor The conference was beyond expectations. Public sector speakers were properly chosen and have enhanced the quality of the information we had the chance to absorb and share during the event. It is indeed becoming an expected annual event and I wish to sincerely congratulate you and your colleagues for such a remarkable initiative. G gLOBAL FiNANCiAL ace for Bonds & Loans Brazil 2014 at this year’s prices - see back page for de 2 Ruiz de Almeida Prado, Pinheiro Neto Advogados 3 Moving Brazil’s debt markets forward Welcome to Bonds, Loans & Derivatives Brazil 2015. Firmly established as Brazil’s leading and largest corporate and investment banking event, Bonds, Loans & Derivatives Brazil brings together over 700 issuers, borrowers, investors and bankers to discuss the developments of local and international credit and derivatives markets annually. Structured to facilitate business development and to provide you with the tools you need to apply to do better business, Bonds, Loans & Derivatives Brazil 2015 will include: 5 macroeconomic and political workshops – Not since 2005 has there been a more important year for industry leaders to come together to look at the future of the market 10 panel discussions: Featuring companies such as Braskem, Tupy, GOL Airlines, Sabesp and São Martinho Over 700 delegates attend annually 58% Investors and Issuers 100% decision makers Hear from the industry’s leading experts 3 keynote speeches – A line-up of professionals who have experience from when Brazil was growing and when investment grades shifted Facilitated 1-2-1 meetings and networking: Through the Online Networking App and dedicated “Business Lounges” where you can hold meetings This is the annual meeting place for senior credit market professionals to network and build business connections. I look forward to seeing you at the event in May. Jack Deino, Head of Emerging Markets Portfolio Management, Invesco Carlos Kawall, Chief Economist, Banco Safra Greg Saichin, Chief Investment Officer, Global Emerging Markets Fixed Income, Allianz Global Investors Harry Williams Head of Programmes GFC - Global Financial Conferences Book now call Marcia today on: +44(0)20 7045 0919 or email at: Marcia.Ardila@GFCconferences.com www.bondsloansbrazil.com Christopher Watson, Portfolio Manager, Finisterre Capital Karina L. Bubeck, CFA, Director, Asset Management, Emerging Markets Research, TIAA-CREF Wilbur Matthews, Chief Executive Officer and Chief Investment Officer, Vaquero Global Investments LP What makes the event unique 1 Hear from 60 industry experts including: • Invesco, Allianz Global Investors, Finisterre Capital, TIAA-CREF, Vaquero Global Investments LP, WAMCO and J.P. Morgan Asset Management 2 High-level decision-makers attend annually 3 Learn about content that has a real impact on your business in Brazil • Get access to over 700 decision makers in one place at one time • How to attract international institutional investors to the Brazilian bond markets • Structuring, packaging and distributing a Brazilian syndicated loan 4 5 A world class programme built on a truly Brazilian view of the market GOVERNMENT KEYNOTES LOCAL BOND MARKETS ALTERNATIVE PRODUCTS LOAN MARKETS Building long-term business relationships face-to-face • Over 10 hours of networking available CORPORATE STRATEGY • Cocktail reception • New Online Networking App enhances your event experience by arranging meetings before you arrive 4 MACRO AND POLITICAL 5 Meet all of your clients in one place Audience breakdown by sector Corporate Issuers & Borrowers Brazilian banks and financial institutions 39% 12% Others 6% International Banks 19% Investors Government 19% 5% Audience breakdown by job function CEO/CFO/Treasurer: 12% Managing Director/Head’s of: 21% Vice President/Director: 60% Partner 7% Companies that attended Bonds, Loans & Derivatives Brazil 2014 Abengoa ALD Automotive Brasil All America Latina Logistica Malha Norte Ambev Anbima Andrade Gutierrez AQCES Aralco Armory Investments Atlantic Energia Renovavel Bahia Specialty Cellulose Baker & McKenzie Banco BNP Paribas Brazil Banco Bradesco Banco Bradesco Asset Management Banco Central do Brasil Banco Cooperativo Sicredi Banco do Brasil Banco Indusval & Partners Banco Modal Banco Rabobank International Brasil Banco Santander Brasil Banco Societe Generale Brasil Banco Votorantim Banco WestLB Bank of America Merrill Lynch BDMG - Banco de Desenvolvimento de Minas Gerais BlackRock Bloomberg BNP Paribas BR Properties Brasil Capital Brasil Investimentos & Negocios - BRAIN Braskem Brazilian Mortgages/Grupo PAN Bridge Partners BRZ Investimentos BTG Pactual BTG Pactual Asset Management Bunge Brasil Business Monitor International Caixa Economica Federal Camargo Corrêa Capitânia Casan CBMM – Companhia Brasileira de Metalurgia e Mineração CCR - Companhia de Concessões Rodoviárias CEMIG Cencosud Brasil CESP – Companhia Energética de São Paulo CETIP Chadbourne & Parke Citi Wealth Management Clifford Chance Comissão de Valores Mobiliários Commerzbank AG Construtora Norberto Odebrecht Construtora OAS Copasa Corretora Souza Barros CT Credit-Suisse Hedging-Griffo EDP Energia do Brasil Elektro Emerge Capital Ltda Equipav ERB Energias Renovaveis do Brasil Ernst & Young Terco Estacio Estaleiro Enseada do Paraguaçu Estre Ambiental Etesco Eugenio Invest Expofunding Export Development Canada FAPES Fibria Fides Asset Management Finvest Fitch Ratings Flaminio Mauricio Advogados FUNCEF Fundacao dos Economiarios Federals Fundamento Comunicação Corporativa Galvão Participações Gavea Invest GE Capital General Shopping Gerdau GOL Linhas Aéreas Inteligentes Governo do Estado de São Paulo Governo do Estado do Mato Grosso Grupo Boticário Grupo Farias Grupo Ical Grupo Libra Grupo Paranapanema Grupo RBS Grupo USJ Hogan Lovells HP Prev Sociedade Previdenciaria HSBC IE Singapore IFC IMPSA ING Intesa SanPaolo SpA. Invepar Invesco ISA Capital do Brasil J.P. Morgan J.P. Morgan Private Bank JBS Friboi Johnson & Johnson Brazil JSL K&L Gates Ketchum Klabin Kondor Invest KPMG KPMG Debt Advisory Lefosse Advogados Linklaters Loan Radar Lobo & der Rizzo Advogados Locamérica Lojas Renner Loomis, Sayles & Company Luz Engenharia Financeira M. Safra & Co Machado, Meyer, Sendacz e Opice Avogados Magazine Luiza Marfrig Group Marubeni Brasil Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados Mayer Brown Ministério da Fazenda Mitsubishi UFJ Financial Group (MUFG) Mizuho Moody’s America Latina More Invest Morgan Stanley MRS Logistica Nacional Minerios Natixis Neoenergia Noble Odebrecht Odebrecht Properties Oi/Telemar Pandurata Alimentos Paul Hastings PBA Capital Petrobras PetroCoque Petros Pine Securities PPS Portfolio Performance Prefeitura de São Paulo Prefeitura do Rio de Janeiro Prefeitura Municipal de Campinas PREVI Promon Propel Investimentos Pulsar Invest PwC Queiroz Galvão Óleo e Gás RB Capital RBS Administração e Cobrança RCI Brasil Rio Bravo Investimentos Sabesp Samarco Mineração Santander Santher Schulz Siemens SKF do Brasil Ltda. Soares Bumachar Chagas Barros Advogados Societe Generale Sonae Sierra SP-PREVCOM Standard Bank State of Parana SunGard Brazil Swiss Re Tauil & Chequer Advogados associado a Mayer Brown LLP Tonon Bioenergia Tractebel Energia Trench, Rossi e Watanabe associado a Baker & McKenzie Ultrapar Participações Usina Coruripe UTC Engenharia UTC Investimentos Vale Verus/ Gestão de Patrimônio Victoria Capital Partners Vicunha Holding Vicunha Textil Vinci Partners Vipal Volvo Financial Services Votorantim Asset Management Votorantim Participações (VPAR) VRG Linhas Aereas Weg Western Asset Western Asset Management WestLB Zilor Zogbi For the full list of participants visit www.bondsloansbrazil.com Featured speakers include: Conference Programme Day One: Wednesday 20th May 2015 08:00 09:30 Registration and coffee Attracting international institutional investors to the Brazilian bond markets: How to get a deal done 08:50 • Structure, guarantees, tax treatment: What does a deal need to look like for Chairman’s opening remarks international investors to buy it? 09:00 Getting back on-track: Where will the government invest into the economy and how will they borrow? • Where does the government plan to raise capital in 2015/16? Where and how Gustavo Peixoto, Director, Mantiq Investimentos will these funds be invested? • Confidence and feel-good factors: What initiatives are being put in place to bring international investors back to Brazil? • Getting corporates and banks to issue: how will this be encouraged? 09:15 Brazil’s monetary policy in 2015/16: Strategies to manage global and domestic market volatilities • Commodity (oil) prices, global growth projections and a changing rate environment – what is the Central Bank’s view on the global monetary landscape? • What strategies are in place to combat rising inflation in Brazil? How is the Central Bank planning to stabilise the real in 2015? Leonardo Gadelha, Chief Financial Officer, Tupy • How will the needed measures will impact employment and delinquency rates? • Basel III, risk assessment and capital allocation for Brazilian companies: Guidance for 2015 • Buying in-and-out of sterling and euros versus buying in-and-out of US dollars and BRL: Why is one easier for investors than the other? • Institutional investors are considering infrastructure debt opportunities in OECD countries but what will make them consider opportunities in Emerging markets and in Brazil? Jack Deino, Head of Emerging Markets Portfolio Management, Invesco Greg Saichin, Chief Investment Officer, Global Emerging Markets Fixed Income, Allianz Global Investors Christopher Watson, Portfolio Manager, Finisterre Capital Leonardo Gadelha, Chief Financial Officer, Tupy Karina L. Bubeck, CFA, Director, Asset Management, Emerging Markets Research, TIAA-CREF Wilbur Matthews, Chief Executive Officer and Chief Investment Officer, Vaquero Global Investments LP Paul Saliba, Capital Markets Group, Mitsubishi UFJ Financial Group (MUFG) 10:30 Coffee and networking 11:00 Brazil: A rating agency’s perspective • Where are the pressure points in the Brazilian economy? What needs to change for ratings to head back towards BBB? • Ratings outlook for the country: Expectations for 2015 and 2016 • Methodology and analysis outlined: What do the ratings mean? Regina Nunes, Managing Director, Southern Latin America Head, Standard and Poor’s Jean-Pierre Cote Gil, Portfolio Manager, Western Asset Management (WAMCO) 6 For the complete agenda visit www.bondsloansbrazil.com 7 Conference Programme Day One: Wednesday 20th May 2015 14:15 11:30 Pricing dynamics of Brazilian debt: How is the market pricing deals? • Comparing prices of loans and bonds traded in the secondary market versus those in the primary – is pricing reflective of underlying risk? • Analysing how banks are pricing their deals taking into consideration sector, geography and structure(s) • US dollar deals after hedging costs vs. local currency deals – which rate better reflects the underlying risk? • Pricing of hybrid bonds – how are dealers arriving at their price? • How can Brazil create a platform for multiple deals to be completed quickly and encourage secondary trading? Jean-Pierre Cote Gil, Portfolio Manager, Western Asset Management (WAMCO) Meng Lu, Senior Vice President, Financial Engineering, Numerix Roberto Cintra, Application Specialist, Bloomberg Wilbur Matthews, Chief Executive Officer and Chief Investment Officer, Vaquero Global Investments LP 12:15 Sheikhs and shale: Understanding the new demand and supply dynamics of oil and its impact on Brazil • Is there a new power-struggle in global oil markets or will a continued fall in oil prices pour cold water on the US’ booming Shale industry? • How are the changing dynamics of the oil and gas industry and a devalued real impacting Brazilian service companies and suppliers? • How will a fall in oil price impact bond and loan volumes out of Brazil? Denise Francisco, Chief Financial Officer, Petrocoque Gustavo Peixoto, Director, Mantiq Investimentos 13:00 Networking lunch sponsored by This is the best event of the financial industry taking place in Brazil, where you certainly meet all of its most important and key players. A strong pipeline of new business opportunities and a much broader network is the outcome for all the participants. Congratulations for the excellent job! Cristiana Ferraz, Vinci Partners Featured speakers include: Brazilian corporate hybrid capital market: How can companies maximise the benefits of these markets? • Why has there been a lack of activity in Brazil for these products so far? • Perpetual bonds: How can companies use this? • How do issuers and investors arrive at a price for hybrid capital? • Who are the investors for these products and what are their expectations? • Locking spreads and interest rates – what does this mean for a company’s balance sheet? Rodrigo Gonzalez, Executive Director, Regional Head of Debt Capital Markets, Americas, Standard Chartered Bank Denise Francisco, Chief Financial Officer, Petrocoque 15:00 Making Brazilian infrastructure bankable: How to attract private sector investment into the market • What changes are required for Brazilian infrastructure to be bankable? What is the schedule of privatization programs? • Regulation, legislation and tax regimes • Defining BNDES’ role and function in the market • How can Brazilian infrastructure be turned into an investable asset class? • Case studies and best practice from overseas: Are there regimes that Brazil should look to emulate? • Eligibility for infrastructure debentures, how has this changed? What developers and companies can look at this product now? Ian Ramalho Guerriero, Project Manager, PPP Unit, Ministry of Planning, Budget and Management, Brazil Selmo Aronovich, Head of Finance, BNDES Renato Gerundio de Azevedo, Director of Operations, Agência Brasileira Gestora de Fundos Garantidores e Garantias (AGBF) Bernardo Costa, Head of Project Finance, Fitch Ratings Gustavo Bellon, Head of Capital Markets, Banco ABC Brasil Diego Fonseca, Head of Products and Banking, Private Banking, Credit Suisse Hedging-Griffo Eduardo Alves Lima, Partner, Tauil & Chequer associado a Mayer Brown LLP Paulo Giavina-Bianchi, Portfolio Manager, J.P. Morgan Asset Management Selmo Aronovich, Head of Finance, BNDES Featured speakers include: Conference Programme Day One: Wednesday 20th May 2015 15:45 17:45 Liability management in focus: Why now is the time for companies to move their bank debt? • Understanding the fundamentals of liability management • How is the process in which capital is raised for liability management different to issuing new debt? • What do issuers need to be aware of for a successful liability management trade? • What market conditions should issuers be looking for when considering a liability management exercise and why is now an opportune moment? Cristiano Benitez, Risk Manager, Grupo São Martinho • From planning to execution: Practical applications and best practice Mario Azevedo de Arruda Sampaio, Head of Capital Markets and Investor Relations, Sabesp 16:30 Coffee and networking Successful hedging: Understanding tax implications and selecting between onshore and offshore markets: • Corporate risk: Why companies must have a hedging strategy in-place in 2015 • Tax implications of different trades: Why tax can make or break the economics of trades • How to select between onshore and offshore derivatives markets • Hedging offshore vs. hedging onshore – what are the key differences? • What are the solutions to increasing liquidity in the derivatives market? How can long-term derivatives be created? • Vanilla vs. exotic: Is there a case for Brazilian companies to look at more complex structures? If so, what are the benefits? Cristiano Benitez, Risk Manager, Grupo São Martinho Bruno Cardoso, Head of Corporate Risk Solutions, Brazil, HSBC 18:15 17:00 What are the drivers of the Brazilian syndicated loan market in 2015? Chairman’s closing remarks followed by cocktail reception sponsored by • M&A as a driver for loan volumes in 2015 • Do bankers see an opening in the market to be allowed to finance Brazilian infrastructure projects? Luciana Pires Dias, Commissioner, Comissão de Valores Mobiliários (CVM) • Will Brazilian local banks lending strategies change in 2015? • How are international banks looking to encourage Brazilian companies to use syndicated loans? Ernesto Meyer, Managing Director Regional Head of Loan Syndications Latin America, BNP Paribas Marcos Camargo, Head of Syndication and Capital Markets, Brazil, Société Générale CIB Charles Johnson, Partner, Chadbourne & Parke LLP Jaime Frontera, Managing Director, Loans Syndications Group, Credit Agricole CIB Richard Cook, Managing Director, Syndications Investment Banking and Markets, Mitsubishi UFJ Financial Group (MUFG) The organization was outstanding. The mix of speakers and agenda included the main market players: Government; Investors; Financial institutions; Specialists. Marcelo Michalua, Managing Director, RB Capital 8 Ezequiel Zibecchi, FAPES - BNDES For the complete agenda visit www.bondsloansbrazil.com 9 C Conference Programme Day Two: Thursday 21st May 2015 08:30 Registration and coffee 09:10 Chairman’s opening remarks 09:15 Evaluating how Brazil's economy will overcome challenges in 2015 by considering lessons from the past • Macroeconomic shocks in 2015 and their impacts on investor sentiment: Why today's Brazil looks a lot like that of Brazil in 2005/6 • What are the challenges Brazil faces in 2015 and 2016 to get itself back onto the path to growth? What needs to change? What will change? How will it be changed? Carlos Kawall, Chief Economist, Banco Safra 09:35 Developing a covered bond market: What are Brazil’s ambitions? • The new legislations explained and reviewed: What does it mean for the market? • Large banks can borrow in the unsecured market, and mid-sized banks do not have mortgage pools to issue covered bonds off the back of: So who is the market being developed for? • Who are the buyers of covered bonds? What are their criteria and risk/return expectations? Boudewijn Dierick, Head of Flow ABS and Covered Bond Structuring, BNP Paribas Luciana Pires Dias, Commissioner, Comissão de Valores Mobiliários (CVM) 10:20 Why structured finance solutions are increasingly important for companies so long as Brazil’s ratings outlook stays uncertain • Boosting demand and liquidity with structure – Case study of Gaia successful securitization • Rating of asset performance: How is the rating agency’s methodology different with a structured deal versus an unsecured deal? Marcelo Michalua, Managing Director, RB Capital Frederico Porto, Senior Managing Director, Brazilian Securities Companhia De Securitização- Grupo PAN Rodrigo de Campos Vieira, Partner, Tozzini Freire João Pacífico, Chief Executive Officer and Partner, Grupo Gaia Register your place online: www.bondsloansbrazil.com 11:00 What are Green Bonds? How are they relevant in Brazil? • Climate, environment and social factors: what is the definition of a green bond? • How have green bonds been successfully issued in the EU and North America? What is the most relevant case study for Brazil? • How is the green bond market expected to grow and develop globally in the mid to long term? • Who are the investors and what are their criteria? Andrew Menzies, Co-Head, Debt Capital Markets, Americas, Société Générale CIB 11:20 Coffee and networking 11:50 Structuring, packaging and distributing a Brazilian syndicated loan: Ingredients for success • Successful case studies: How were deals structured and how were they priced? • Structures, terms and covenants: What should borrowers expect in 2015 and how can they seize these opportunities? • What maturities are available for loans and how do they compare vs. the bond market? • Loan documentation: How has this developed to create more security and transparency? Danilo Garcez, Finance Director, Braskem Eduardo Martins, Finance and Investor Relations Director, GOL Linhas Aéreas Inteligentes Antonio Giglio, Partner, Demarest 12:35 Investing offshore from Brazil and the internalization of instruments: What opportunities are there for local investors? • Pension funds allowed to invest small % of portfolio, how will this develop? • Is real currency deprecation attracting local investors to international debt? • How the new rules of Instruction CVM 555 affect the ability of individual investors to have access to international markets. Leonardo Ono, Credit Analyst, Kondor Invest Cid Oliveira, Portfolio Manager, XP Gestao De Recursos Paulo Giavina-Bianchi, Portfolio Manager, J.P. Morgan Asset Management Maurício Marcellini, Director of Investments, FUNCEF Márcio Fujita, Director and Head, Votorantim Private Bank 13:00 Chairman’s closing remarks followed by networking lunch sponsored by The most efficient way to reach decision-makers Multiple staff passes FREE corporate client passes Included in your package are a number of passes for your corporate clients. Meaning you can personally guarantee they all attend. Branded business lounges Situated alongside the main exhibition area, get reserved seating and branding in the main meeting area. Bring along the team and meet with more clients across the 2 days. The higher the level of sponsorship you take, the more passes you will receive. 1-2-1 meeting rooms Separate from the main conference area, secure yourself your own personal meeting room to host private client meetings. Set up meetings in advance using the Online Networking App • Get access to the attendee list 2 weeks before the event • Contact other attendees and have meetings in your diary before you even arrive • Personalise your own agenda and attend the sessions relevant to you 10 • No need to waste time searching for the people you want to meet amongst the crowds • Continue networking post-event – the App stays live for 10 months so you have all year to connect with the other attendees! Get access to the Networking App by registering your place today at: www.bondsloansbrazil.com Mining & Investment LATIN AMERICA Latin America’s largestSUMMIT 27th & 28th October 2014 · The Westin, Lima debt conference The only event for mining investment BECOME A SPONSOR strategies in Latin America and efficiency Mining & Investment Places sell out fast - Call Bruce Robertson on +44 (0) 207 045 0924 www.bondsloansbrazil.com LATIN AMERICA SUMMIT REGISTRATION OPEN - SAVE $500 Book before 31st July - Enter code EB1 at: www.mininglatam.com MILA-Premailer-A4-v5.indd 1 03/06/14 09:09 11 Gain a competitive advantage by securing your sponsorship now Invite your key clients Maximise your presence and brand impact As a sponsor you will be given tickets to invite your most important clients as VIPs to the event. Through numerous branding opportunities our private meeting space g space will provide you with the ideal setting to reshments, your meeting space gives you our competitors to discuss business. Business Lounge Save time and money by scheduling a year’s worth of meetings Book a GFC Business Lounge and conduct a year’s worth of 1-on-1 meetings with all your clients in just two days 80% of exhibition space already sold To find out more about sponsoring contact Bruce Robertson on +44 (0) 0207 045 0924 or email Bruce.Robertson@GFCconferences.com os on +44 (0) 207 045 0937 Improve your client coverage with greater presence The more passes you have, the more clients and business partners you can cover at the event Showcase your products/solutions Join a panel, chair or present a case study to a room full of potential clients Book before 27th March and SAVE $600 I want to register for Bonds, Loans & Derivatives Brazil 2015 Book early to secure the best rates for your company Code Special offer Price Full price DM1 Book before 27th March 2015 USD $1,799 SAVE USD$600 USD $2,399 DM2 Book before 24th April 2015 USD $1,999 SAVE USD$400 USD $2,399 How to register: Online: www.bondsloansbrazil.com Tel: +44 (0) 207 045 0919 Email: Marcia.Ardila@GFCconferences.com BRING YOUR TEAM AND MAKE THE MOST OF THE NETWORKING With more than 50 senior level speakers from the corporate finance and investment banking industry delivering presentations and joining panel discussions, send your team and take advantage of all the content and networking opportunities available for you. Extra discounts available. Contact Marcia on Marcia.Ardila@GFCConferences.com DELEGATE INFORMATION Title Last name Job title Company Address First name Postcode Country TelFax Email Please send me an invoice AUTHORISATION Authorising manager (PRINT) Signature Date 12 I accept the terms and conditions detailed in this booking form Terms and conditions Payment Invoices are due for immediate payment. Registrations must be paid immediately by credit card or bank transfer. Delegates who have not paid their fees prior to the conference may be refused admission. Substitutions / Cancellations Any cancellations must be received in writing at least 42 days prior to the event. A cancellation fee of $500 will be payable on all cancellations received by this date. After this date, we regret that no cancellations can be accepted, and registering companies will be liable for 100% of the registration fee. A substitute delegate may be named at no extra charge. 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