The CLO Industry Goes Virtual

• Registration is now open. Please go to https://imnclosreg.hubb.me/.
  Already registered? Click here to access the virtual event. IMN's CLO and Leveraged Loans Industry is going virtual for 2020, June 16-17, as we continue to provide a platform for our CLO Industry during this time.  We have worked with our esteemed Advisory Board to condense valuable and efficient coverage into a reduced number of live afternoon sessions and on-demand demos. As such, speaking roles for 2020 will be limited.  Registrants can view exhibits, connect with sponsoring firms, watch live or on-demand content as well as connect and meet with fellow attendees. Hubb will automatically update your calendar with your selected panel sessions and 1:1 meetings providing an experience tailored to you.  Please reach out to Lauren Kerr at lauren.kerr@imn.org or Chris Keeping at ckeeping@imn.org for speaking and branding opportunities.   As a service to our global CLO community, registration to attend CLOs Virtual 2020 is complimentary for all attendees. 
  
  

• Sponsored By:               
  
                        Association Supporters:               
  
  

8:00 AM (Eastern Time)
Hubb Virtual Conference Platform Live

• Please use this time to browse our virtual exhibit area, connect with sponsoring firms, watch our on-demand content as well as connect and meet with fellow attendees.  
  
  

Welcome Note and Opening Remarks

• Available on-demand. 
  
  

  • Lauren Kerr, Director of Programming (IMN)

Live Panels

9:00 AM (Eastern Time)
Get to Know your CLO Manager!

• 9:20-9:30am Q&A
  
  

  • Patrick Daugherty, President (Glacier Lake Capital Advisors)
  • Peter Gleysteen, Chief Executive Officer (AGL Credit Management)
  • Mark Mahoney, President and Chief Investment Officer (Gulf Stream Asset Management)

10:30 AM (Eastern Time)
Keynote Address: The Longest U.S. Economic Expansion Comes to an End

• 11:00 - 11:30AM Q&A
  
  

  • Mark Zandi, Chief Economist (Moody's Analytics)

11:30 AM (Eastern Time)
Break until 2:30pm

2:30 PM (Eastern Time)
Turning the Wheel: Assessing the State of the Leveraged Loan Market and Propelling Forward

• • 2020 performance: The unpredicted macro year for politics and pandemics
  • Impact of government buying ABS programs and TALF: Where does the FED’s initial proposal fall short?  
  • How to gain access to investment grade and high yield bond market 
  • Fundamentals to improve leveraged financing and improve liquidity: Turning the wheel at the top of the stack to lower the cost of financing for issuers in the leveraged loan market  
  • Rating headroom: What can be expected for sectors with higher credit exposure? What are the rating agencies primary analytical focus? What is the post-pandemic trajectory for obtaining upgrades?  
  • Credit stress and default outlook: Strategies for recovery and crystal balling ahead  

  3:15-3:30PM Q&A
  
  

  • Paul St. Lawrence, Partner (Morgan, Lewis & Bockius LLP)
  • Rishad Ahluwalia, Managing Director, Head of CLO Research (J.P. Morgan Securities LLC)
  • David Frey, Managing Director (HPS Investment Partners)
  • Thomas Majewski, Managing Partner & Founder (Eagle Point Credit Management)
  • Robert Schulz, Managing Director & Sector Lead (S&P Global Ratings)

3:30 PM (Eastern Time)
Break

Breakout Sessions

4:00 PM (Eastern Time)
The Evolution of CLO Documentation Standards

• • Evaluation of documentation features that have the potential to provide a creative solution 
  • Ability to add language to existing documentation 
  • Long term strategy: Can withholding equity distributions provide a lifeboat for managers?  
  • Spreads and covenant returns: Will cov-lite become more favorable for investors? 

  4:45-5:00PM Q&A
  
  

  • Allison Salas, Director, CLOs (DWS Investment Management)
  • Lana Deharveng, Vice President (Moody’s Investors Service)
  • Peter Hirsh, Director (BlackRock)
  • Abhijit Kurup, Senior Associate (Seward & Kissel LLP)
  • Ryan Suda, Partner (Mayer Brown LLP)

4:00 PM (Eastern Time)
Middle Market: Leading the Troops in Battle

• • Are middle market managers better positioned with the credit component in today’s current market? Does this feature drive supply and demand more so than structure technicalities?  
  • Are covenants more prevalent in the middle market section (compared to BSLs)? 
  • Evaluation of spreads in the secondary market, does this help liabilities price tighter? 
  • Are middle market/direct lenders poised to see the best vintages in a decade? Ability to use more of the capital structure  

  4:45-5:00PM Q&A
  
  

  • Christopher Duerden, Partner (Dechert LLP)
  • Chris Flynn, President (First Eagle Alternative Credit)
  • Randy Schwimmer, Senior Managing Director (Churchill Asset Management)
  • Ian Walker, Head of U.S. Middle Market Research (Covenant Review)

5:00 PM (Eastern Time)
LIVE Interactive Trivia Hour

• Join IMN and your fellow attendees for a fun and intellectually challenging hour of trivia.  Participants will be broken out into random teams of 5 ,and will advance through rounds of trivia questions for the ultimate bragging rights as winner.  The winning team will be featured in our post conference summary wrap up, and receive A CASH PRIZE of $100! Bring your favorite competitive spirit, your favorite cocktail or mocktail, and join in the fun!
  
  

Challenges in the CLO market and how Broadridge Sentry can help

• On-demand content available at any time. You will be able to visit our sponsors in the exhibit hall for live chat and questions.  15-minute technology presentation to demo your product and the basics of why it should be implemented in the CLO market now more than ever  
  
  

  • Cameron Bunnell, Global Director of Analytics (Broadridge Financial Solutions, Inc)
  • Sara Roche, Director, Private Debt & Credit Solutions (Broadridge Financial Solutions, Inc)

What the Docs say: A Contrarian Look at Cov-lite Trends in U.S. CLOs and Leveraged Loans

• On-demand content available at any time: In this short video, Eigen’s Co-founder and CEO, Lewis Z Liu, shares the results of a deep-dive into 500+ leveraged loans and CLO documents to discover the real story related to Cov-lite. Lewis also explains how you can get to grips with your documents, to understand the terms and nuanced language within them, to support the decisions you need to take now.   Visit our virtual stand and chat with our team to learn how you can use NLP to quickly and precisely analyze all the documents in your portfolio or back book.
  
  

  • Dr. Lewis Z. Liu, Co-Founder & Chief Executive Officer (Eigen Technologies)

7:01 AM (Eastern Time)
Discover the Benefits of Online CLO Trading

• On-demand content available at any time. You will be able to visit our sponsors in the exhibit hall for live chat and questions.  15-minute technology presentations to demo your product and the basics of why it should be implemented in the CLO market now more than ever  
  
  

  • James Vogl, CFA, Head of Product (KopenTech)

Live Panels

8:00 AM (Eastern Time)
Keynote Interview: Grab your morning coffee with 100 Women in Finance

• 8:30-9:00AM Q&A
  
  

  • Amanda Pullinger, Chief Executive Officer (100 Women in Finance)
  • Michelle Meyer, Head of U.S. Economics, Managing Director (Bank of America)

9:00 AM (Eastern Time)
Get to Know your CLO Manager!

• 9:20-9:30am Q&A
  
  

  • Rizwan Akhter, Portfolio Manager (York Capital Management)
  • Eric Im, Director of Research (York Capital Management)

9:30 AM (Eastern Time)
Break until 1pm

• Please use this time to browse our virtual exhibit area, connect with sponsoring firms, watch our on-demand content as well as connect and meet with fellow attendees.  
  
  

12:00 PM (Eastern Time)
The Asset Allocator’s MasterMind Session: Demystifying CLOs*

• Join this live and interactive session led by the IMDDA and the Fixed Income Investor Network (FIIN), and leading CLO arrangers and managers. Topics to be discussed include but are not limited to:

  • Generating alpha in the CLO Sector
  • Key considerations when choosing your CLO manager

  *Open only to qualified investor attendees. Hosted by:     
  
  

  • Daniel Strachman, Co-Founder (IMDDA)
  • Ann Rutledge, Chief Executive Officer, Board Member (Creditspectrum Corp; FIIN)
  • Olga Chernova, Chief Investment Officer (Sancus Capital Management)

1:00 PM (Eastern Time)
The New Normal: Evolution of the 2.0 CLO Manager

• • How has the CLO manager adapted their strategy to navigate Covid-19: Structural features of CLOs and capital plans to withstand the test of time  
  • Best practices: How to handle the impact and pace of downgrades 
  • Manager tiering: Breaching of triple-C buckets, OC test failure, management fees, working towards or away from consolidation  
  • Trading and liquidity forecasts: Will weak credit agreements provide flexibility to raise traditional money?  
  • Relative value of stressed and distressed funds: Waiting for the prime moment to deploy  
  • Primary market new issues: Overview of static CLOs and shorter reinvestment periods. Is this sufficient to keep the market alive?

  1:45-2:00PM Q&A
  
  

  • Derek Miller, Managing Director (Fitch Ratings)
  • Sean Griffin, Managing Director (J.P. Morgan Securities LLC)
  • David Preston, Head of Structured Credit Research (AGL Credit)
  • Chris Saltaformaggio, Senior Director (New York Life Investors)
  • Meric Topbas, Director (Credit Suisse Asset Management)

2:30 PM (Eastern Time)
LIBOR Transition in a Covid-19 World: Preparation Amidst the Chaos

• 3:15-3:30PM Q&A
  
  

  • Meredith Coffey, Executive VP of Research & Analysis (Loan Syndications Trading Association)
  • Tal Reback, Principal (KKR)
  • Edwin Wilches, CFA, Portfolio Manager (PGIM Fixed Income)

3:30 PM (Eastern Time)
Break

Investor Roundtable Breakouts: Getting your Cash Back to Work!

• Trading impact and experiences, default projections, tranche downgrades, liquidity challenges, cut off cashflows and opportunities for refinancing.  
  
  

4:00 PM (Eastern Time)
Equity Investor Roundtable

• 4:45-5:00PM Q&A
  
  

  • Asif Khan, Managing Director, Global Head of CLOs (MUFG)
  • Olga Chernova, Chief Investment Officer (Sancus Capital Management)
  • Matthew Layton, Partner (Pearl Diver Capital)
  • Benjamin Tyszka, Managing Director (Ares Management)

4:00 PM (Eastern Time)
Mezzanine Investor Roundtable

• 4:45-5:00PM Q&A
  
  

  • Serhan Secmen, Partner (Napier Park Global Capital)
  • Angela Best, Director, Portfolio Manager, CLOs (MetLife Investment Management)
  • Laila Kollmorgen, Managing Director (PineBridge Investments)
  • Michelle Liu, Portfolio Manager and Senior Analyst (KKR)

5:00 PM (Eastern Time)
CLOs and Leveraged Loans Virtual Conference Concludes

• Content will be available up to 14 days after this event.