2020 Agenda

Registration and coffee

Chairman's opening remarks

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?

Speakers

• Henrique Meirelles, Secretary of Finance, State of São Paulo

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?

Speakers

• Luis Felipe Vital, Head of Public Debt, National Treasury, Brazil

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?

Coffee and networking break

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?

Speakers

• Alberto Ono, Chief Financial Officer, Usiminas

• Mario Liao, Treasurer, Gol Linhas Aereas Inteligentes

• Marina Dalben, Corporate Finance Director, Braskem

• Ricardo Carvalho, Head of Corporate Analytics, Fitch Ratings

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?

Speakers

• Aurelio Bustilho de Oliveira, Chief Financial Officer, Americas, Enel

• María José Cortés, Head of Environmental, Social and Governance, Atlas Renewable Energy

• María Eugenia Sosa Taborda, Head of Latin America and Carribean Network, United Nations Environment Programme Finance Initiative

• Julyana Yokota, Senior Director and Sector Lead, Infrastructure Ratings, S&P Global Ratings

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?

Speakers

• Alexandre Barreto, Partner, Cescon Barrieu

• Felipe Bomfim, Chief Financial Officer, Brazil,, Patria Infraestrutura

• Robson Eneas de Oliveira, Programme Director, Special Secretariat of the Investment Partnerships Program (SPPI)

• Gabriel Fiuza, Undersecretary of Regulation and Markets, Secretariat of Infrastructure Development, Ministry of Economy

• Alfonso de León, Chief Financial Officer, Powertis

Networking Lunch

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?

Speakers

• Daniel Cunha, Director, Privatisation Secretariat, Republic of Brazil

• Flávio Martins Tarchi Crivellari, Chief Financial Officer, Aegea Sanamento

• Bernardo Costa, Vice President, Senior Analyst, Project Finance and Infrastructure Group, Moody's Ratings

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

Speakers

• Giovanni Biscardi, Partner, Greenberg Traurig

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?

Networking break

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?

Speakers

• Bruno Gomes, Head of Alternative Investments, CVM

• Guilherme Ferreira, Managing Partner, Jive Investments

• Michael Fridman, Partner, Trek Investimentos

• Gabriel Buscarini Leutewiler, Partner, Santos Neto

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?

Speakers

• Pedro Calhman, Deputy Secretary for Microeconomic Policy and Infrastructure Finance, Secretariat of Economic Policy, Ministry of the Economy, Brazil

• David Fenwick, Partner, Proskauer

• Leonardo di Cola, Partner, Madrona Advogados