2020 Agenda


10th June 2020

Registration and coffee
Session ends: 08:50
Chairman's opening remarks
Session ends: 09:00
Keynote address: One Year In: How is the administration progressing with its tax, pension reform and privatisation plans whilst maintaining the fiscal discipline?
  • Brazilian states’ appetite for sovereign loans: How can the states balance the financing needed for new sanitation regulation and privatisation programme?
  • From public to private in the oil, gas and infrastructure sectors: How do the government plan to manage the funding demand for its privatisation programme?
  • What are the implications of a pension scheme managed through fixed income funds in a time of lower interest rates?
  • What is the current role of government agencies on fostering innovation and infrastructure development?
Session ends: 09:25
Keynote address: How will the government finance its way in the markets towards a new economic vision?
  • How does the government plan to implement a new tax structure, continue pushing through pension reform and ensure fiscal discipline? What effect will this have on bonds and loans activity for 2020?
  • Public spending strategy: How much capital does the government need to secure to fund it’s economic agenda? Are they planning to raise the funds in both the local and international markets?
Session ends: 10:05
Rates, FX, trade, politics and markets: How is Brazil’s economy responding to international and domestic uncertainty?
  • Decisive investor forecast for 2020: How has investor perception changed after 18 months of the new administration in office, if at all?
  • Assessing Brazil’s low interest rates and monetary policy outlook for 2020: How will the new benchmark rate impact bonds and loans activity?
  • Brazilian investors are looking beyond Fixed Income: Where are the new pockets of investment for 2020/21?
  • What will be the impact of US/China trade tensions and the Latin American Spring on Brazil’s capital flows?
Session ends: 10:45
Coffee and networking break
Session ends: 11:15
How can Brazilian corporates protect themselves in a period of economic, political and social volatility across the region?
  • What are the most significant risks and challenges facing Brazilian funding and treasury teams in 2020?
  • How are CFOs developing their 2020 CAPEX and investment strategies to factor in increased regional and domestic uncertainty? How are low local interest rates affecting their appetite for new issuance?
  • Assessing the rally in local DCM activity: How do Brazilian companies see this playing out for 2020 and beyond?
  • What can corporates do to increase investor appetite for local bonds?
  • How are multinationals projecting their capital structure to support investments in Brazil?
Session ends: 11:55
Evolution of Brazil’s ESG metrics: What are the key steps for issuers and investors to debut in the sustainable market?
  • Assessing new challenges and opportunities for the continued development of the green bond and loan market in Brazil
  • What criteria should green projects display to wet investors’ appetite? Do the benefits of going green justify the additional effort required?
  • Assessing metrics for bond and loan comparison: Is there a level playing field for volume of work required, and how does the ROI compare to a regular transaction?
Session ends: 12:40
Capitalising on appetite for Brazilian infrastructure concessions in 2020: How can investors with USD cashflows be encouraged to issue in reais?
  • International investors on the hunt for yield in Brazil: What critical success factors do they need to see to sponsor long-term local projects?
  • Project bonds and BRL debt securities: Assessing best instruments to issue in reais as local firms step up to the plate to plug funding gap
  • Toll roads versus airport concessions: Where do offshore investors see most potential for investment?
  • BNDES’ evolution to market facilitator: To what extent does BNDES’ divestiture open the door for private players to finance long-term infrastructure projects?
  • Debentures, promissory notes, and FIDCs: Who are the new players coming to market with long-term financing structures and how are they looking to be involved?
  • BNDES’ repositioning as guarantor: Would they act as financier for complex off-shore projects?
  • Access to mini-perm funding: How can bankers, issuers and investors work together to increase the volume of local deals in the 4-7 year tenor bracket?
Session ends: 13:25
Networking Lunch
Session ends: 14:40
On the road to opening up the Oil, Energy and Sanitation sectors: How the privatisation programme and foreign investment can fund Brazil’s key markets
  • What steps need to be taken to source new CAPEX and alternative funding routes in the energy sector in a context of low local interest rates?
  • Standardising energy concessions with new capital injections: How best to forecast a dollarized contract, and how can the sovereign supplement this?
  • Access to working CAPEX and oil reserve excess: How does the government plan to support oil companies to achieve healthy balance sheets and increase competition in the sector?
  • Lessons learned from recent oil auction: What do international investors and IOCs need to see to tap the Brazilian market?
  • Spotlight on sanitation: How will the proposed singular regulatory agency under the new bill benefit the privatisation programme? Which investor pools can be tapped to fund the sub-sectors most in need?
Session ends: 15:25
Assessing the outlook for acquisition finance in Brazil: What are the key steps for issuers and investors to move forward in the current climate?
  • Green light for the privatisation programme and BNDES’ changing role: What challenges does this transition period raise for lenders in Brazil?
  • Determining key risks within a legal context: Dos and Don’ts of acquisition finance in Brazil
Session ends: 16:10
Preparing for a transition away from LIBOR: How to ensure Brazilian organisations are ready for the seismic shift?
  • What is replacing LIBOR as a benchmark in Latin America?
  • Transitioning: What do local and international 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: 16:50
Networking break
Session ends: 17:05
Evolution of structured debt (CRIs, CRAs and securitisation) in Brazil: Are they still a valuable instrument following regulation updates?
  • Growth of Brazilian structured debt and distressed assets: Who are the new players coming to market following changes to CVM regulation on FIDCs? How are investors pricing these changes?
  • Will the CRI, CRA incentives survive if the government cancels the exemption applicable to these securities? Which instruments could viably take their place?
  • View from the market: How does the revision for issuing CRIs in 2020 benefit the real estate and agribusiness sectors?
  • What can we learn from CVM regulation on FIDCs that is applicable to the CRAs and CRIs legislation?
Session ends: 17:45
Fintech and SMEs: How are non-bank financing solutions opening up the markets for alternative lenders?
  • Large local banks dominate the market: Is the rise of challenger banks and start-up payment platforms realistically a threat to traditional bank products?
  • Boost in institutional investor interest in discount receivables space: Which sectors is this most concentrated on? What impact will this have on payment processes within capital markets?
  • How could increasing SME stock market activity incentivise fintech regulation from Central Bank, CMV and other governmental institutions?
  • How do blockchain and smart contract technologies level the playing field?
Session ends: 18:25
Session ends: 18:30