Government strategies for 2020: Increasing GDP growth and infrastructure spending while combatting deficits and credit rating pressures
Session ends: 09:20
- 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
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
Director, General Directorate of Debt and Public Treasury,
Ministry of Economy and Finance, Peru
Director of Public Credit,
Ministry of Finance & Public Credit, Colombia
Juan Pablo Gallipoli,
Director, Debt Capital Markets,
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
Jorge Andres Tabares Angel,
Chief Financial Officer,
Empresas Públicas De Medellín
Aquiles Ignacio Mercado Gonzales,
Financial & Administrative Vice President,
Head of Syndicated Loans, Americas,
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
Jose Ivan Jaramillo Vallejo,
Chief Financial Officer,
Consorcio Transmantaro S.A.
Chief Executive Officer,
Principles for Responsible Investment
Anne van Riel,
Head of Sustainable Finance Americas,
Arnold & Porter
Vice President, Sustainable Banking,
Crédit Agricole CIB
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
Darby Overseas Investment
Julia Rey Bonilla,
Executive Director, Private Placement Group,
Managing Director, Head of Investment Banking,
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
Head of Emerging Markets Corporate Fixed Income,
José Martínez Sanguinetti,
Vice President, Investments,
Rimac Seguros, Peru
Director of Investment,
Juan Sebastián Restrepo,
Head of Investments, AFP/Insurance & Product Innovation,
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
Aurelio Bustilho de Oliveira,
Chief Financial Officer, Americas,
Head of Corporate Finance,
Daniel Arango Uribe,
Director of Financial Planning,
German Corredor Avella,
Senior Director and Sector Lead, Infrastructure Ratings,
S&P Global Ratings
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
Financiera de Desarrollo Nacional: FDN
Chief Financial Officer,
Juan Pablo Raffetto,
Vice President, Head of LATAM Infrastructure,
Managing Director & Head of Infrastructure Latin America,
Chief Financial Officer,
Head of Corporate Finance, Colombia,
Vice President, Senior Analyst,
Moody's Investors Service