+44 (0) 20 7045 0920
26th & 27th March 2019, Intercontinental Festival City, Dubai
+44 (0) 20 7045 0920

Agenda

The Middle East's largest finance and investment conference

Platinum Sponsor  

Platinum Sponsor  

Platinum Sponsor  

Gold Sponsor  

Gold Sponsor  

Gold Sponsor  

Gold Sponsor  

Gold Sponsor  

Gold Sponsor  

Lunch Sponsor  

Networking Sponsor  

Silver Sponsor  

Silver Sponsor  

Silver Sponsor  

Silver Sponsor  

Silver Sponsor  

Silver Sponsor  

Silver Sponsor  

Silver Sponsor  

Silver Sponsor  

Silver Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Bronze Sponsor  

Corporate Sponsor  

 

Corporate Sponsor  

Corporate Sponsor  

Corporate Sponsor  

Corporate Sponsor  

Corporate Sponsor  

Agenda

Day 1: Tuesday 24th April 2018

07.30 Registration and coffee

08.50 Chairman’s opening remarks
Fawaz Abusneineh, Managing Director, Head of Debt Capital Markets and Issuer Services, First Abu Dhabi Bank (FAB) 

09.00 Scene setting: Understanding the key drivers and global trends of the debt markets in 2018/9
Martin Egan, Vice-Chairman, Global Markets Client Board, BNP Paribas

09.20 Where to find value today in Emerging Market Debt
Hans Humes, Chairman, Chief Executive Officer and Co-Chief Investment Officer, Greylock Capital Management

09.40 Analysing flows of capital and how issuers can target different pockets of liquidity: 144a vs. RegS-only, public deals vs. private placements
Global bond investors are awash with liquidity. But where is the big money coming from, and in what direction is the capital flowing? How can issuers implement strategies to target this flow of capital and secure funding more efficiently? This session will bring together markets analysts, traders and bankers to share their experiences of where the big buyers are, and their views on what they are buying; providing insight into how issuers can adjust their strategies to funding.
Topics to be discussed include:

  • Who are the world’s biggest buyers of bonds? Who are the anchor investors that drive bond pricing? What deals do they invest into?
  • What are US pension funds and insurance companies buying? What are Chinese institutional investor buying? What portion of their investment goes into the Middle East?
  • Deal or no deal: Assessment of products and formats drivers of capital flow would buy – 144a vs. RegS; 5-year vs. 30-year notes; Public vs. privately placed deals 

Samer Hamade, Managing Director, Head of Fixed Income Syndicate & MTNs, First Abu Dhabi Bank (FAB)
Alexis Taffin de Tilques, Head of Debt Capital Markets, CEEMEA, BNP Paribas
Darko Hajdukovic, Head of Fixed Income, Funds and Analytics, London Stock Exchange
Jean-Marc Mercier, Global Co-Head of Debt Capital Markets, HSBC
Todd Schubert, Managing Director, Fixed Income Research, Bank of Singapore
Moderated by: Rajat Sapra, Group Head of Capital Markets, Bank ABC


10.25 The Bulls, The Bears and the Heads of Debt Capital Markets: Are the bond markets over-heating?

Was Iraq’s 6.75% US$1bn 6-year bond in August 2017, that attracted US$6.6bn in orders, a sign that investors finally understand Emerging Market credits? Or is it the first signs of an over-heating market? In this session, the Bulls take on the Bears. In the first half of the session, DCM heads will make a case the market is overheating. The second half of the session, they will make the case it is not. At the end of the session, the audience will vote.

  • Are investors differentiating EM credits and their stories enough? 
  • How much capital can investors keep in cash? Are investors, under pressure to deliver returns, putting money to work against their better judgement?
  • Is the global hunt for yield (and such a favourable issuance environment) putting the sustainability of the markets at risk? 

Fawaz Abusneineh, Managing Director, Head of Debt Capital Markets and Issuer Services, First Abu Dhabi Bank (FAB)
Hitesh Asarpota, Managing Director, Head of Debt Capital Markets, Emirates NBD
Iman Abdel Khalek, Head of Middle East and North Africa, Debt Capital Markets, Citi
James Bejjani, Fixed Income Manager, M1 Group
Kashif Raza, Head of Debt Capital Markets and Distribution, Abu Dhabi Islamic Bank (ADIB)
Ayman Sejiny, Chief Executive Officer, Ibdar Bank
Moderated by: Jonathan Brandon, Managing Editor, Bonds & Loans, GFC Media Group


11.10 Coffee and networking hosted by Mashreq


11.40 Ratings outlook and the capital markets: How downgrades and assessment of the macroeconomic underpinnings are impacting bond, loan and sukuk markets

There have been more ratings downgrades in the GCC in the past 24 months than there have been in the past decade. Are we likely to see more? What is the view of a rating agency on the underpinnings of the GCC economies? Meanwhile, 2017 was a record year for bonds, and 2016 was a record year for loans.

  • How are fiscal and monetary positions of each GCC country driving debt issuances?
  • Understanding and translating macroeconomic health of a country into projecting how much debt capital will be issued
  • A view to the future. Recap and lessons from the past

Roderick Gordon, Head of Debt Capital Markets and Fixed Income Syndicate, GIB Capital
Anita Yadav, Senior Director – Global Markets and Treasury Head of Fixed Income Research, Emirates NBD
Ashwinder Singh, Director, Financial Sector Research, Barings
Christopher Watson, Portfolio Manager, Finisterre Capital
Sanjay Guglani,
Chief Investment Officer, Silverdale Capital
Moderated by: David Staples, Managing Director, EMEA Corporate Finance Group, Moody’s 


12.25 Project bonds (and classic project loans): Why access to the capital markets is essential to the future development of projects in the region

  • Why GRE project companies are turning to classic project finance structures and project bonds for funding
  • Project bonds vs. refinancing project loans in the bank market: Comparing and contrasting price, tenor, and overall cost
  • Impact of longer-dated government issuances and establishment of sovereign yield curves on global investor sentiment for GCC project bonds
  • Case study of successful issuances: Who has been successful, and how? What was their rationale behind issuing project bonds?

Mark Wells, Executive Director, Head of Structured Capital Markets, MUFG
Michela Bariletti, Senior Director, EMEA Infrastructure, S&P Global Ratings
Ahsen Rajput, Deputy Managing Director, Middle East, Africa and South Asia, Boeing Capital Corporation
Charlie Seymour, Financial Advisor, Abu Dhabi Water & Electricity Authority (ADWEA) 
Rohit Sinha, Director, Acquisitions and Project Finance, ACWA Power
Moderated by: Shahid Khan, Head of Project and Asset Finance, Investment Banking Division Abu Dhabi Commercial Bank (ADCB)


13.10 Networking lunch hosted by MUFG

<b>14.35  Chairman’s remarks<br /></b><b>Fawaz Abusneineh, </b>Managing Director, Head of Debt Capital Markets and Issuer Services, <b>First Abu Dhabi Bank (FAB)</b>


14.40 Establishing sovereign sukuk yield curves vs. high profile defaults – what Islamic finance must do next to move the industry forward

2017 was the year the Sukuk product globalised. A record-breaking sovereign issue by Saudi Arabia established a much-needed yield curve, and numerous jurisdictions around the world looked to follow suit. 2017 was also the year of a high profile Sukuk default casting doubts over the credibility of the Sukuk product. In this session, panellists will highlight what must be done in 2018 to build on the positives; and address how the industry will reassure investors to the sustainability of the Sukuk industry.

  • What are the (potential) long term implications for Sukuk following the high-profile defaults and restructurings? How the industry can turn the experience into a stepping-stone on which to further promote Sukuk as an asset class
  • Sovereign Sukuk – what and where next? Which other countries could and want to issue Sukuk? 
  • Corporate and Project Sukuk – how to leverage the building-blocks created by sovereign yield curves
  • Are private placements the best path to the public sukuk market?
  • How can more sukuk be included in mainstream indices? 

Mahmoud Nawar CFA, Vice President, Debt Capital Markets, GIB Capital
Usman Ahmed, Head of Fixed Income, Emirates NBD Asset Management
Franck Nowak, Senior Analyst, MENA Fixed Income and Global Sukuk, Franklin Templeton Investments
Zeina Rizk, Director, Fixed Income Asset Management, Arqaam Capital
Arshad Mohamed Ismail, Head, Global Banking Business, Maybank Islamic Berhad 
Moderated by: Mustafa Adil, Head of Islamic Finance, Thomson Reuters 

15.25 Basel III implementation: Capital threshold, capital products and grandfathering old capital products

  • What are the capital requirements for banks? What are the thresholds? 
  • Bank lending and Loan-to-Deposit ratios: How well capitalised are regional banks? How much Tier Capital will banks require? 
  • What does Tier Capital look like? What do new Tier Capital products look like? What is the optimum level of AT1 and AT2 bonds under new Basel III capital requirements?
  • Grandfathering old capital products: How to do this? Are there options? 

Jonathan Fried, Partner and Head of Middle East Capital Markets, Linklaters
Redmond Ramsdale, Senior Director, Financial Institutions, Fitch Ratings
Patrick Clerkin, Head of Investor Relations, Managing Director, Group Funding and Principal Investments, Emirates NBD
Karine Kheirallah,
Director, Global Investments and Solutions, Barclays Private Bank
Moderated by: Kapil Damani, Global Head of Capital Products, BNP Paribas


16.10 Coffee and networking


16.30 REITs: A unique asset class that sits between stocks and bonds 

  • Understanding REITS in the GCC: What are their objectives and what is driving demand for these vehicles? 
  • How are REITs unlocking value for investors and creating opportunities in the real estate sector? 
  • REITs and capital markets issuance: Are REITs limited to bank finance or can they issue in the broader debt capital markets? 
  • How will changes in regional REIT regulations unlock local real estate markets?

Ali K. Shaikley, Partner, White & Case
Anthony Taylor, Head of Real Estate, ENBD REIT
Asar Mashkoor, 
Managing Director, Equity Capital Markets and Advisory, Emirates NBD Capital
Moderated by: Gaurav Shivpuri, Head of Capital Markets, MENA, JLL

17.15 Enter the Lion’s Den: As fees compress and competition intensifies where do syndicated loan bankers expect to find well-priced opportunities in the market?

  • Senior unsecured vs. structured loans: Why Loans bankers need to credit hats on and work for the fee-generating business
  • Developing the middle-market into an investable asset class: How can banks lend to the corporate sector?
  • Project, ECA-backed, general corporate loans: Where are the banks’ sweet-spots away from high-grade and GRE lending? 
  • Who are the new players in the market: Where are they looking to lend? How do they plan to add value to an already competitive syndicated loan market?
  • Distributing loans into Asia and to Asian banks: Fad or trend? 

Fathima Lijiya, Managing Director, Head of Syndicated Finance, First Abu Dhabi Bank (FAB)
Nishit Kumar, Senior Director, Corporate Finance, Mashreq
Tariq Amin, First Vice President, Bank ABC
David Higgs, Senior Director, Co-Head of Loan Capital Markets, EMEA, Mizuho
Dimitri Abdulkarim, Head of Origination – Middle East, Syndications, MUFG
Zvi Wohlgemuth, Managing Director, Head of Project, Asset Financing & CEEMEA Loan Syndicate, Societe Generale
Moderated by: William Sharpe, Managing Director, Corporate Loan Syndicate, Natixis  


18.00 Chairman’s closing remarks and close of Day 1

14.35 Chairman’s remarks
Fawaz Abusneineh, Managing Director, Head of Debt Capital Markets and Issuer Services, First Abu Dhabi Bank (FAB)


Day 2: Wednesday 25th April 2018

08.00 Registration and coffee

09.15 Chairman’s opening remarks
Andy Cairns, 
Senior Managing Director, Head of Global Corporate Finance, First Abu Dhabi Bank (FAB)


09.20 Coming face-to-face with the white elephant: Geopolitics and its impact on spreads and bond prices

In today’s markets, credit spreads are being driven by geopolitics as much as (if not more than) economic fundamentals and market technicals. In this session, the gloves come off. The moderator will introduce live and hypothetical geopolitical scenarios, and political and financial markets experts will walk through how they believe these scenarios will impact the capital markets.

Jahangir Aka,
Managing Director, Middle East and Africa, Neuberger Berman
Sharif Eid, Portfolio Manager, Global Sukuk and MENA Fixed Income, Franklin Templeton Investments
Ayham Kamel, Practice Head, Middle East and Africa, Eurasia Group
Mohammad Hasif, Investment Manager, Aberdeen Islamic Asset Management Sdn Bhd
Jean-Marc Le Jeune, 
Head of Financing Solutions, Abu Dhabi Commercial Bank (ADCB) 
Moderated by: Chavan Bhogaita, Managing Director and Head of Market Insights and Strategy, First Abu Dhabi Bank (FAB)


10.05 Capital markets strategy at sovereign, corporate and project levels

  • What is the outlook for growth, capex and refinancing? How does issuing bonds/sukuk fit into capital requirements? 
  • Broadening the investor base
  • Accessing long term US dollar funding 
  • Prospects for long-term non-USD funding
  • Debt management: How do sovereigns and GREs protect their ratings against downgrades?

Michele Fiorentino, Chief Investment Officer, Abu Dhabi National Oil Company (ADNOC)
Tom Koczwara, Director, Debt Management, Department of Finance, Sharjah
John Arentz,
Head of Treasury, Majid Al Futtaim Holding 
Damian White,
Treasurer, Noor Bank
Moderated by: Andy Cairns, Senior Managing Director, Head of Global Corporate Finance, First Abu Dhabi Bank (FAB) 

 

10.50 The “Why, How, What” of capital markets deals: What product issuers/borrowers selected, how they approached the market and why they selected the financial product they did
2017 was a year when a broad spectrum of borrowers and issuers raised capital in different markets for a range of purposes – from acquisitions, project finance, and refinancing – impacting the structure and make-up of the GCC capital markets as well as the demographic of investors. This session looks at case studies of issuers in different markets, and analyses why each of their deals was a success. Deals and markets to be reviewed and analysed include:

  • 144a bond market
  • RegS Sukuk market
  • Project Bond market
  • Syndicated Loan market

Hussain Albalushi, Group Chief Financial Officer, Nama Holding
Michael Jorgensen, Chief Financial Officer, Oman Shipping Company
Abrar Hussain, Executive Director, Head of Debt Capital Markets, MENA, Credit Agricole CIB 
Moderated by: Paul Farrell, Corporate Trust, MENA & Turkey Head of Sales and Relationship Management, BNY Mellon

11.30 Coffee and networking hosted by Mashreq

12.00 Global syndicate: A top-down view of the market and its future

  • Global volumes, structures and pricing: Where are the large deposits and where is the capital headed?
  • Lack of deal flow, excess liquidity: What are the key challenges facing the global loan markets and what are the fixes?
  • Evolution of the role of bankers as intermediaries: Will the relationship banking model endure?
  • Cooperation between banks and investors in Emerging markets: Structuring deals to align bank requirements with investor demands 

Tarek Bachnak, Executive Director, Head of Debt Optimisation & Distribution MENA, Credit Agricole CIB
Gerard McHugh, Head of Corporate Coverage, MENA and Central Asia, Mizuho Bank
Raouf Jundi,
Managing Director, Head of Origination, Syndications, Debt Capital Markets - Loans & Bonds, MUFG
William Sharpe,
Managing Director, Corporate Loan Syndicate, Natixis  
Moderated by: Jonathan Macdonald, Managing Director, Head of Loan Capital Markets and Distribution, First Abu Dhabi Bank (FAB)

 

12.45   Leveraged, acquisition and structured finance: How to raise growth capital and/or cheaper funding by offering collateral and/or ring-fencing assets

  • How to structure leveraged loans in the Middle East: What do deals look like? What does non-recourse and ring-fencing assets mean? 
  • Non-recourse funding: Who can do it? How does it work? Why is it necessary? What are the risks for the borrower? 
  • Structuring around assets to secure competitively priced capital
  • Collateral and guarantees: What are borrowers guaranteeing? What do they need to know? What are the risks? 

Zain Zaidi, Director, Loan Structuring and Origination, Middle East, Citi
Artur Uluc, Senior Director, Corporate Finance, Mashreq
Sudheer Perla, Vice President, Business Development, Tabreed
Amir Riad, Global Head of Corporate Finance and Investment Bank, Wholesale Banking Group, Abu Dhabi Islamic Bank (ADIB)
Sanjay Guglani, Chief Investment Officer, Silverdale Capital
Moderated by: Avinash Ravikumar, Investment Banker, Abu Dhabi Commercial Bank (ADCB) 

13.30   5 Big Themes: Political and economic shocks that will rock the markets in 2018-19

  • 5 political or economic events in 2018 and 2019 
  • Why each will impact both global markets and regional markets
  • What are the best and worst case scenarios of each of these shocks taking place? 

Dr. Nasser H. Saidi, President, Nasser Saidi & Associates   

14.00 Chairman’s closing remarks and close of conference, followed by networking lunch hosted by MUFG
Andy Cairns, Senior Managing Director, Head of Global Corporate Finance, First Abu Dhabi Bank (FAB)

Related Events

Bonds, Loans & Sukuk Emerging Markets Briefing Day

11 Oct 2018

The Stones Hotel, Marriott Autograph Collection, Bali

Find out more

Organised By

Global Financial Conferences