Debtwire Forum Asia Pacific 2024

location_on Four Seasons Hotel Hong Kong & Online, Hong Kong Map

Agenda

09.00 - 09.05
HKT

Opening remarks

John Bringardner
John Bringardner Executive Editor, DEBTWIRE
09.35 - 10.30
HKT

Asia outlook: Examining the drivers for credit strategies in the region

After a brutal three years, the Asian high yield bond market bottomed out this year, with prices for performing and even stressed credits rallying. Despite this, the primary market has seen relatively little new bond issuance making it difficult for cashed-up investors to put money to work. Leading industry experts will discuss their expectations for the year ahead.

  • What macro-economic shifts are influencing credit strategies?
  • How important are allocations to Asia Pacific credit in global investor portfolios?
  • Where are the current opportunities across geographies and sectors? 
  • What will likely be the state of the market in 12 months?
10.30 - 11.00
HKT

Networking break

11.00 - 11.45
HKT

View from the top: The role of the banks in restructuring

By far, the bank loan market dominates Asia’s credit markets. As such, almost any situation in which investors are strategising on how to deal with a stressed/distressed bond issuer will need to include a discussion with bank lenders, who have separate regulatory and internal policy issues to consider regarding debt restructurings. This panel of senior bankers, advisors and bond investors discuss the dynamics of intercreditor discussions in debt restructurings.

  • How are monetary policies and market conditions affecting bank lending?
  • How do banks work together with financial sponsors in debt restructuring?
  • What are the key challenges banks face in emerging markets?
  • What are some recent examples of successful restructurings?

 

11.45 - 12.30
HKT

The outlook for distressed opportunities

Very few new cross-border restructuring opportunities have emerged so far in 2024. Why is this and how will the market shape up in the year ahead? Our panel will discuss the distressed environment and share their thoughts on the opportunity set in the region.

  • Current landscape: What are the current distressed debt and special situation opportunities in the region?
  • China restructurings: What is the latest? What are some of the recent success stories and how were done?
  • Sectoral overview: Which sectors are most at risk of stress and distress?
  • What is the outlook for the year ahead?
12.30 - 13.30
HKT

Networking Lunch

13.30 - 14.15
HKT

Restructuring watchlist: Australia

Australia-the Lucky Country hasn’t seen a recession in almost 28 years. But opportunities for stressed/distressed credit investors have been popping up over recent months as some industries have come under idiosyncratic pressures and interest rates have remained high for longer than expected. A panel of Australian focused investors and advisors discuss the current challenges and opportunities. 

  • What are the key drivers for restructuring and insolvency activity in Australia?
  • Are we seeing an increase of alternative capital providers in restructurings? 
  • Where are the opportunities? What are the likely distress sectors?
  • Beside creditor-on-creditor violence, what are other trends do investors need to watch? 
14.15 - 15.00
HKT

When things go bad: Dealing with less-than-ideal debtor conduct

Creditors need to be on their toes in Asian restructurings. Reluctant debtors sometimes need to be encouraged to holistically restructure offshore debt. Others need to be reminded of a need for adequate disclosure, or for creative accounting practices or hidden liabilities to be properly investigated. And sometimes debtors simply can't be left in control of a business, its assets and/or the direction of a restructuring. But what can creditors realistically do when things go bad? Is litigation the answer or does it simply add to the angst (and costs)? 

15.00 - 15.30
HKT

Networking break

15.30 - 16.15
HKT

India: The new growth engine?

India’s attractiveness for credit investors is on the rise, boosted by stable economic growth and strong domestic bank liquidity. Deal flow pipeline seems robust amid increased capital expenditure by corporates and amid special situations opportunities. Industry leaders offer insight into this compelling market.

  • What is the driving the surge of private credit in India?
  • What are the key sectors contributing to the rise of deal flow?
  • How has the legal framework improved? 
  • How sustainable is the growth?
16.15 - 17.00
HKT

Private credit on the rise

With the rise of private credit strategies, LPs continue to make significant allocations to the asset class with Asia’s share of the global private credit market reaching 6%. Fund managers whether specialists or multi-asset play their part and are increasingly incorporating private credit in their strategies. Our panel of leading GPs will share their key considerations for investing in the asset class.

  • How do LPs view Asian private credit against other regions?
  • What continues to make private credit a compelling investment opportunity for fund managers?
  • How does private credit fit into a broader alternative asset portfolio?
  • Which developing sub-sectors of private credit are most attractive? 
17.00 - 18.30
HKT

Close of conference and Networking drinks