Opening remarks and market overview
Asian credit: Assessing the devastation from the high yield bond market’s collapse
Asian credit markets have been hard hit since last year by a deluge of defaults from Chinese property developers, which has exposed the structural frailties of the region’s markets, as well as widespread corporate governance abuses. Suffering from huge losses on their public bond portfolios, many investors question whether much of Asia’s high yield bond and private debt markets are investable -- or at least whether the market will ever grow back to the size it once was. Our panel of senior industry leaders discuss the market outlook as fund outflows from Asia’s emerging markets and US soaring interest rates have added to the bleak investment environment.
- What are the implications for the Asian credit markets amid the collapse of the Chinese high yield bond market?
- What is the outlook for the private lending market, especially in relation to PRC credits?
- What will Asia’s credit markets look like in two to three years’ time?
- Where are the current and next set of credit opportunities in Asia?
China: More trouble on the horizon?
China's economic growth expected to slow even as its already challenging corporate environment is deteriorating, especially in the property sector. Despite token signals of government support for the sector, boycotts of mortgage payments by homebuyers and slowing purchases are still acting as a much strong countervailing force, continuing to erode confidence and leading to further liquidity risks and defaults. As tallied by Debtwire, more than 50 USD bond-issuing developers have already defaulted or have otherwise engaged in workouts offshore since 1 July 2021. Against this backdrop, our expert panel will examine whether the downward spiral can be stopped, and confidence restored.
- What is the current credit landscape in China?
- Can the debt issues be resolved and, if so, what is likely to happen?
- What is the opportunity set for local and international credit investors?
- How can investors navigate this promising but complex market? Has the level of transparency improved?
Asia direct lending: Drivers for growth
Direct lending in Asia is on the rise as the corporate lending landscape moves closer to what is being seen in the rest of the world, namely a shift towards more direct lending and private debt financing. A trend which is expected to continue as companies look for alternatives to traditional forms of financing due to worsening macro-economic conditions. A panel of senior industry professionals will examine the opportunities and challenges in the region.
- What are the key drivers for direct lending growth in the region?
- How big is the mid-market opportunity set?
- What is the role of private equity and venture debt in the direct lending ecosystem?
- What are the top risks and challenges to direct lending in Asia?
Fireside chat: Litigation funding
Opportunities for litigation funders are likely to increase significantly over the coming year as a greater number of companies with a history of poor governance and negligence on the part of their independent auditors are forced into liquidation. Legislative reform to increase the scope of third-party funding has also made it more attractive for aggrieved parties to pursue litigation. Our panel will provide an overview of the developments in this area and discuss some recent cases to provide examples of the workings of the litigation funding process.
Asia distressed opportunities: A rising tide?
In a year when macro factors are centre stage, many companies across Asia are facing a liquidity crunch. In some sectors and markets, defaults are likely to happen, and as investor appetite rises, demand will meet an increasing supply. Our panel will discuss the outlook and competitive landscape for distressed debt and special situations, as well as give their thoughts on what opportunities might emerge in Asia.
- Are we seeing growth in Asian distressed debt and special situations? Is the rapidly deteriorating macro environment changing the landscape?
- What are the key drivers generating opportunities in distressed debt and special situations?
- Which geographies and sectors look most attractive for distressed investors?
- What do we expect to see in distressed opportunities in the next 12–18 months?
South and Southeast Asia: A new wave of possibilities? - Streaming live from Singapore
Although China commands a significant portion of the credit market, India and Southeast Asia (Indonesia in particular) have a certain attractiveness to savvy investors. However, whether it is worth the risk navigating these complex markets remains to be seen. Our panel provide their views and practical ways to approach the opportunities in these regions.
- Landscape: Market and sectoral overview
- Challenges: How to navigate complexities?
- India distressed debt: Moving in the right direction?
- Indonesia: New opportunities?
Debtwire breaking news - Streaming live from Singapore
In a highly interactive session, veteran industry professionals will address key stories dominating the news.
Networking cocktail reception
Cocktail receptions in Hong Kong and Singapore
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