The CLO Industry Goes Virtual

• Registration is now open. Please go to https://imnclosreg.hubb.me/. 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 *Investor attendance only. Limited number of seats.
  
  

1:00 PM (Eastern Time)
Keynote Address

• 1:30-2:00PM Q&A
  
  

2:00 PM (Eastern Time)
Break

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)
  • Thomas Majewski, Managing Partner & Founder (Eagle Point Credit Management)
  • Robert Schulz, Managing Director & Sector Lead, Leveraged Finance (S&P Global Ratings)

3:30 PM (Eastern Time)
Break

Breakout Sessions

4:00 PM (Eastern Time)
CLO and Loan Documentation: Yesterday’s Black Could be Today’s White

• • 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)
  • Randy Schwimmer, Senior Managing Director (Churchill Asset Management)

5:00 PM (Eastern Time)
New York Cocktail Making Class: “A Taste of New York”

Tech Vendor 1: Pitch your Product

• 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  
  
  

  • Cameron Bunnell, Global Director of Analytics (Broadridge Financial Solutions, Inc)

Tech Vendor 2: Pitch your Product

• 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  
  
  

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

Live Panels

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

• 8:30-9:00AM Q&A
  
  

  • Amanda Pullinger, Chief Executive Officer (100 Women in Finance)

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

• 9:20-9:30am Q&A *Investor attendance only. Limited number of seats.
  
  

  • Wynne Comer, Chief Operating Officer (AGL Credit Management LP)

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.  
  
  

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
  
  

  • Sean Griffin, Managing Director (J.P. Morgan Securities LLC)
  • Derek Miller, Managing Director (Fitch Ratings)
  • Chris Saltaformaggio, Director (New York Life Investors)

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 Vice President of Research & Analysis (LSTA)
  • Tal Reback, Principal, KKR Credit (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)

4:00 PM (Eastern Time)
Mezzanine Investor Roundtable

• 4:45-5:00PM Q&A
  
  

  • Angela Best, Director, Portfolio Manager, CLOs (MetLife)
  • Laila Kollmorgen, Managing Director (PineBridge Investments)
  • Michelle Liu, Portfolio Manager and Senior Analyst (KKR)

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

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