CLOs & Leveraged Loans
New York, NY
June 1 - 2, 2020

Description

Conference Cancellation Notice:

As a precautionary measure with concerns around the Novel Coronavirus (COVID-19) outbreak and in line with guidance from international health organizations, IMN has been working with our teams, clients and suppliers around the world to monitor the impact of the virus. It is as part of this review and the development of the situation that has led us to cancel the 2020 iteration of the Investors' Conference on CLOs & Leveraged Loans, scheduled for June 1-2.

We apologize for any inconvenience caused, but as always, the safety of our participants, community and staff are our priority and we feel this is the best option for this event. Our thoughts are with those in impacted areas.

If you have any questions or concerns then please raise this with your IMN representative or email the team at events@imn.org.

Who Should Attend
  • CLO Managers
  • CLO Structurers and Bankers
  • Legal and Financial Advisors
  • Investors
  • Rating Agencies
  • Financial Technology Providers
  • Financial Service Providers with an interest in the Leveraged Loan & CLO Market

Issuers & Investors 601

To view audience list you must be signed in

Sign-In

Conference Highlights

Networking Tutorial

    Platform Introduction

    LOADING MEDIA...

    Getting Started

    LOADING MEDIA...

    Updating Personal Info

    LOADING MEDIA...

    Updating Demographics

    LOADING MEDIA...

    Searching By Name/Company

    LOADING MEDIA...

    Filter By Demographics

    LOADING MEDIA...

    Send Invitation

    LOADING MEDIA...

    Accept Invitation

    LOADING MEDIA...

    Messaging Connections

    LOADING MEDIA...

    Post Conference Content

    LOADING MEDIA...

My Agenda

  • To view your agenda you must be signed in Sign-In

Agenda

    Monday, June 1st, 2020

      10:00 AM
      Delegate Registration Opens and Sponsor Exhibits



      12:00 PM
      Pre- Conference Workshop: Rome Wasn’t Built in a Day

      • Recap of 2016/17 vintages: This workshop will provide attendees with a 5 year timeline of CLO structures and capital plans aimed to withstand the test of time.

      12:30 PM
      Pre- Conference Workshop: JP Morgan CLO Index

      • Analysis and break down of the most recent J.P Morgan’s benchmark CLO index aimed at investors.

      1:00 PM
      Pre-Conference Workshop: ESG Fever

      • This workshop will provide attendees with what qualifies as ESG, and how to create a basic framework as an investor with limited transparency on private deals.

      1:40 PM
      Host’s Welcome and Opening Remarks



      1:50 PM
      Leveraged Loans: What is Driving Performance and Dynamics?

        • Forecasts for the 2020 election: How will the geopolitical year affect the fundamentals of leverage financing? Will this macroeconomic zig zag balance out assets and strengthen market conditions?
        • Why are we seeing a trend with bail and switch on new issue deals? Will this lead to repricing?
        • Will this repricing or refinancing add pressure to the weighted average spread on CLOs?
        • Post mortem review: Evaluation of advertised idiosyncratic loans that didn’t materialize. What are the themes in credit stress? Was this positive or negative for the CLO market?
        • Will increasingly bifurcated views on loan quality create wider disparities in pricing?
        • 2020: Review and forecast for deterioration in docs
        • Will positive technical and decreased rates increase the attractiveness of the retail space?


      2:40 PM
      The Deal M&A Awards



      2:50 PM
      Keynote Address



      3:20 PM
      Networking Refreshment Break



      3:40 PM
      The CLO Primaries: Let the Debate Begin!

        • Will loan recoveries decrease?
        • Are all covenants bad?
        • CLOs: Are they truly for forced sellers?
        • What is the yield of any tranche right now? 
        If you have particular headlines you would like addressed in this session please email lauren.kerr@imn.org to relay to the moderator and financial reporters.

      4:25 PM
      Leverage Tests and Credit Fundamentals: Covenant Review

        • Overview of the Documentation Score used to give managers and investors a holistically view of the loans’ risk.
        • Trends in collateral and default protection.


      5:10 PM
      Welcoming Cocktail Reception



    Tuesday, June 2nd, 2020

      8:00 AM
      Delegate Breakfast & Registration



      8:15 AM
      Women’s Networking Breakfast: How Women are Leading the Tech Disruption for the CLO and Leveraged Loan Industry

      • Pre-Conference Networking Breakfast with guest speaker

      9:15 AM
      Opening Keynote Fireside Chat



      9:30 AM
      The Year of Balance: It’s a CLO Refinance Batting Cage and the Balls are Coming Fast and Furious!

        • The train keeps going: How will CLOs portfolios perform globally throughout a year of elections and strong macro fundamentals? Will we see continued dispersion in the loan market? Will yield continue to improve?
        • Are you worried about loan repricings? What will it take for primary arbitrage to realign?
        • The AAAs rally on: Will we see participation increase from the Japanese banks? Is regulator pressure and sensualized press hindering bidding participation?
        • Balanced spread tightening in the new issue market; credit problems surrounding dispersion; investor hesitation around floating rate paper: Have we seen this movie or how does it end?
        • New issue versus refi and reset: Is new issue supply poised to meet investor demand as supply is easy to ramp up? How are investors viewing refi versus resets? Are ‘Print and Sprints’ viable today?
        • 2020 prediction on debt versus equity: Will we see an uptake in warehouses? What challenges does equity face?


      10:20 AM
      LIBOR v Volcker: Reconstructing the Financial System

        • Don’t dig the LIBOR hole deeper: How to build liquidity with SOFR referenced contracts
        • How to prepare for the regulators knocking at the door
        • The amendment approach: Building a hardwire approach for loans. What do spread calculation and adjustments look like?
        • Standardizing your fallback language
        • Will the Volcker rule update permit CLOs to hold high yield bond buckets? Does mixing this collateral now help CLO supply?
        • What discrepancies can this create for borrowers?  


      11:10 AM
      Refreshment Break



      Track A 11:35 AM
      The Quality Spectrum: What is Driving the Divergence of Returns in the CLO Market?

        • Relative value of CLOs compared to other structured products and credit assets?
        • US versus Europe: How does the AAA CLO tranche investment compare across the pond? Will both continue to remain stable?
        • How will U.S. investors position their portfolio post Brexit?
        • Will 2020 lower CLO issuance predictions impact tranche levels?
        • Performance of the mezzanine: Are BB and B still the lone underperformers? Why is high yield credit showing double-digit returns across the quality spectrum?


      Track B 11:35 AM
      Tech Vendor Hot Seat: Pitch your Product

      • A series of 7 minute technology pitches to demo your product and the basics of why it should be implemented in the CLO market This panel will consist of 2 moderators asking pointed questions to each vendor that you would want answered when evaluating a particular system for purchase.  Audience participation is encouraged and questions can be emailed in advance to lauren.kerr@imn.org.

      12:20 PM
      Delegate Luncheon



      Track A 1:25 PM
      Middle Market Opportunities: Lookin’ Pretty Fine

        • Will continued low interest rates offer an attractive pick up in yield for the middle market segment?
        • Why do middle market CLOs sidestep some of the concerns seen in the BSL segment? Are these middle market loans structured with stronger covenants?
        • Will private debt funds migrate to the middle market and create a pathway for new entrants?
        • What challenges lie ahead for the middle market with regards to due diligence and sourcing business?  


      Track B 1:25 PM
      Rating Stabilities: Planning for a Doomsday Scenario

      • Rating agencies will provide a demo on ratings migration for loans and structuring from BBB to CCC and across the stack

      Track A 2:10 PM
      Plain Vanilla or Chocolate: Structural Innovations to Benefit the Market

        • Market value CDOs, CBOs and infrastructure CLOs
        • Breaking into the hybrid CBO CLO market
        • Are we still seeing structures with high a CCC component?
        • How does innovation in these bespoke structures address the level of equity return?
        • AMRs: Will the AMR have strength to stay regardless of market conditions? Was the 2020 auction proof of a working concept?
        • What is the bank appetite for fixed rate paper?


      Track B 2:10 PM
      The All Stars Researchers Roundtable: Manager Dispersion and Tiering

        • Relative value comparison of loans to managers
        • Are we seeing an increase in tiering of the managers in this market? How does a researcher produce their rankings?
        • Investor perspective: A by-product of skill and lessons learnt from stepping on the landmines
        • Trader perspective: Evaluation of manager liquidity and economic impact


      Track A 2:55 PM
      ESG in Practice: Quantification for the Equity Investor

        • ESG metrics considered in constructing a portfolio
        • How does this affect bringing credit into the market? When you apply an ESG label to a corporate, do you look at the supply chain? How far along the chain needs evaluated?
        • What are emerging standards for applying the label?
        • How do these investments trickle down to equity returns?   


      2:55 PM
      Seed-Starting Tips: Growing the Smaller Players in an Already Fertile Market

        • The CLO gold rush: Why are established players leaving bigger firms to start up their own shops?
        • What is the appeal in buying from newer entries compared than seasoned players?
        • Growing credit: Does buying into smaller fund managers help avoid issues such a firm size limitation?
        • Are these newer managers being accurately tested with processing and risk management
        • Will challenging arbitrage levels hinder issuers outside of the largest players?


      3:45 PM
      Refreshment Break



      4:10 PM
      Investors’ Roundtable: Protecting your Investments and Finding a Balance

        • What is the pressure on insurance participation in the equity market?
        • Is there pressure from equity investors for managers to refinance?
        • How can managers ensure equity protection? What difficulties lie ahead as default rates pick up?
        • Are we seeing tranches return to a historical basis mirroring high yield at mezzanine levels?
        • Is continued tightening and robust spread compression making debt investments a more attractive option?
        • Is 2020 proving a value proposition for cross over investors interested in investment grades?
        • Non-economic equity capital: How has the landscape evolved with collateral managers and risk retention capital? Are those still holding risk retention capital making a smart move in the long term?


      5:00 PM
      The 9th Annual Investors' Conference on CLOs and Leveraged Loans Concludes



Sponsors

Register

To register for this conference you must be signed in

  • Investor Rate - $995
  • CLO Manager Rate - $1,395
  • Early Bird Rate - $1,995
  • Standard Rate - $2,095
Sign-In

Advisory Board

Contact Us

Venue

  • Conference Venue
  • Sheraton New York Times Square Hotel


    811 7th Avenue 53rd Street
    New York, NY, 10019
    USA
    Fax: 212-262-4410

1120 Avenue of the Americas, 6th Floor, New York, NY 10036
Tel: +1(212)901-0506 Fax: +1(212)768-2484
Email: mail@imn.org


View Full Site
You need to login before accessing this section. Click "Login" from bottom menu.

Please sign in

Create Account Recover Password Sign in with LinkedIn

Enter Your Email: