22nd April 2020

Government strategies for 2020: Increasing GDP growth and infrastructure spending while combatting deficits and credit rating pressures
  • Economic outlook and fiscal plans for 2020
  • Supporting infrastructure development and GDP growth: How much external capital is needed?
  • Maintaining credit ratings, combatting deficits and stimulating growth: Initiatives to boost investment into the economy
  • New markets, providing benchmarks and liquidity: Government initiatives to open up new pools of capital for corporates and developers
Session ends: 09:20
Funding growth: How are the sovereigns approaching the capital markets in 2020?
  • What are the funding needs of sovereign borrowers/issuers in the next year, and how will they be met?
  • What is the outlook for growth, capex and refinancing amongst Finance Ministries? How are they diversifying their investor bases?
  • Trade wars: Impact on the Andean economies and capital flows into the region
  • Accessing long term US dollar funding & prospects for long-term non-USD funding
Session ends: 10:05
How are blue-chips taking advantage of low rates to raise finance and optimise capital structures?
  • What are the CAPEX needs for Andes’ top-tier corporates in 2020, and how will they be met?
  • 144a vs local markets: Where are Andean corporates finding better pricing?
  • Multi-currency financing: Where are companies that operate across the region choosing to raise capital, and in what denomination?
  • Refinancing in a low rate environment: How are corporates managing liabilities? What challenges should they be aware of?
  • What is the business case for syndications in a low-rate environment?
  • Hedging by the book: What risks are Andean corporates hedging against?
    • To what extent do they use derivatives vs natural hedges?
    • How can the cost of derivatives be lowered to encourage Colombian and Peruvian companies to issue long dated bonds?
Session ends: 10:50
Coffee and networking
Session ends: 11:20
ESG beyond a marketing exercise: How can issuers and borrowers access better pricing, tenors and liquidity by enhancing their ESG credentials?
  • Sustainable financing vs green, bonds vs loans: What are the different structures, who are the eligible candidates for each?
  • The right candidate: Do you need to be a green company to take advantage of appetite for ESG? How are companies already monitoring sustainability, and which loans can be refinanced as sustainable loans?
  • Does incorporating green/ESG elements into a transaction expand the investor pool? If so, by how much?
  • Does going green cost more? How are deals structured? Who foots the bill - the borrower/issue or the lender/investor?
  • Understanding international and local investor appetite: Who is looking at ESG investments and to what degree?
  • How are banks, investors and regulators supporting Andean borrowers and issuers in their journey to sustainability?
Session ends: 12:05
Preparing for a transition away from LIBOR: How to ensure your organisation is ready for the seismic shift?
  • What is replacing LIBOR as a benchmark in Latin America?
  • Transitioning: What do banks and borrowers need to be aware of when renewing loan contracts?
  • Reviewing recent deals launched using alternatives to LIBOR: How can this be applied to deals within a Latin American jurisdiction?
Session ends: 12:50
Private placements as an alternative to the public bond market
  • Beyond public debt: understanding private placements as a stepping stone to the capital markets
  • What are the advantages, and disadvantages, of doing a private placement compared to public debt or a loan?
  • Who is buying this debt? Does it appeal to a different group of investors? What are their concerns, and how are they being met?
  • Are we seeing a growing trend of private placements? What are the implications for the local capital markets? Is this form of financing complimentary or competition to banks?
Session ends: 13:35
Networking lunch
Session ends: 15:00
Andean macroeconomics and politics in the global/regional story: How are investors pricing local risk?
  • How is the Colombian government managing the peace process and narcotics trade? How do the political challenges in the Andean region compare to political challenges elsewhere in Latin America?
  • Where does Andean risk sit in a global EM fixed income investor’s portfolio? How do perspectives differ between local and international investors?
  • Trade wars, LIBOR and oil prices: What is driving investor sentiment, and how exposed is the region to global disruptions?
  • How valid are concerns of a Colombia rating downgrade? What will the impact on market liquidity be? Where can local life insurance and pension funds invest in a sub-IG Colombia?
  • How is Andean corporate debt performing compared to equity? What is the investor base for alternative investments?
Session ends: 15:45
Funding the Andes’ renewable energy projects: How is the shift to sustainable energy impacting investment into non-conventional power?
  • A different risk: How can funding for renewable energy be made viable in the absence of the same guarantees available to conventional energy production?
  • What are the next steps in Colombia’s PPA renewables auction?
    • What was the outcome of the auction, and why? What has changed since the last attempt?
  • How are project participants reaching financial closures now that the auctions have been awarded?
  • What and where are the success stories in financing renewable projects across Latin America? What were the lessons learnt? What financial structures have worked best?
  • Experience vs ability: What is the role for international banks in financing the region’s renewables projects? How much can they lend locally to renewables?
Session ends: 16:30
Assessing lenders’ and investors’ appetite for the 2020 infrastructure project pipeline
  • Beyond toll roads: What are the big projects in the region’s pipeline, and how are they being financed?
    • How can financing expand beyond 5-year bilateral loans into project loans, project bonds, and long-term PPP contracts?
  • Are we seeing a move towards private financing and, if so, why?
  • What is the appetite from local and international banks? What is sentiment following the arbitration court ruling in Colombia? How have concerns been met?
  • How is currency risk being managed by international banks and sponsors?
  • What lessons from Colombia’s 4G can be applied in Peru and Chile?
  • How close to reaching full lending capacity are Andean governments? How is the emergence of private initiatives being supported to fill the gap?
Session ends: 17:15

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