Agenda

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

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

Speakers

• José Olivares Canchari, Director, Banco de la Nación, Republic of Peru

• Cesar Arias, Director of Public Credit, Ministry of Finance & Public Credit, Colombia

• Juan Pablo Gallipoli, Director, Debt Capital Markets, HSBC

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?

Speakers

• Jorge Tabares, Chief Financial Officer, Grupo Energia de Bogota (GEB)

• Aquiles Mercado González, Chief Financial Officer, Promigas

• Alfredo Ugarte, SMBC Nikko

• Natalia O’Byrne, Senior Director, Fitch Ratings

• Monica Macia, Head of Syndicated Loans, Americas, HSBC

Coffee and networking

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?

Speakers

• Jose Ivan Jaramillo Vallejo, Chief Financial Officer, Consorcio Transmantaro S.A.

• Fiona Reynolds, Chief Executive Officer, Principles for Responsible Investment

• Anne van Riel, Head of Sustainable Finance Capital Markets Americas, BNP Paribas

• Ana Colazo, Vigeo Eiris

• Raul Herrera, Partner, Arnold & Porter

• Charlotte Peyraud, 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?

Speakers

• Gregory Harrington, Partner, Arnold & Porter

• Felipe Castilla, Chief Financial Officer, Grupo Energia de Bogota (GEB)

• Alejandro Yanés Cruz, Head of Treasury, Petroperu

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?

Speakers

• Ignacio Aicardi, Chief Investment Officer, Darby International Capital

• Carlos Fradique, Partner, Brigard Urrutia

• Julia Rey Bonilla, General Counsel, Transmilenio

• Paolo Matoto, Executive Director, CIBC

• Alejandro Sanchez, Managing Director, Head of Investment Banking, Corficolombia

Networking lunch

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?

Speakers

• Jack Deino, Independent

• José Martínez Sanguinetti, Vice President, Investments, Rimac Seguros, Peru

• Natalia Hernandez, Director of Investment, Global Seguros

• Juan Sebastián Restrepo, Head of Investments, AFP/Insurance & Product Innovation, Skandia

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?

Speakers

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

• Carlos Isaza, Head of Corporate Finance, Celsia

• Daniel Arango Uribe, Director of Financial Planning, Bancolombia

• German Corredor Avella, Executive Director, SER Colombia

• Jhon Castillo, Commercial Head, AES Chivor

• Julyana Yokota, 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?

Speakers

• Francisco Lozano, President, Financiera de Desarrollo Nacional: FDN

• Pablo Arroyave, Chief Financial Officer, Odinsa

• Juan Pablo Raffetto, Vice President, Head of LATAM Infrastructure & PF, MetLife

• David Gonzalez, Managing Director & Head of Project & Structured Finance, Latin America and the Caribbean, SMBC

• Andres Contreras, Chief Financial Officer, Intervial

• Jaime Otero, Head of Corporate Finance and Investment Banking, Itau Colombia

• Adrián Garza, Vice President, Senior Analyst, Moody's Ratings