AGENDA



AGENDA & SPEAKERS

 

TUESDAY, FEBRUARY 5, 2019


12:00 P.M. - 6:00 P.M.

REGISTRATION


1:00 P.M. - 2:00 P.M.
Facts Matter

How large is the asset based lending market? How do asset based loans compare to other asset classes in terms of defaults and losses? While these seem like straightforward questions, the answers present very challenging data issues. The answers, however, are of great interest to current and potential market participants. The asset based market is challenging to analyze due to the private nature of the most of the borrowers and the highly structured transactions underlying the data. Thomson Reuters has been publishing data on the syndicated asset based market since 2003. The CFA has also been approaching market data through two different studies; an ongoing quarterly survey being conducted by Westat, and a market sizing study being conducted by E&Y which was completed in late 2018. This panel will discuss the dimensions and characteristics of the asset based loan market using the available data, and also discuss the analytical challenges the third parties face in their analysis.

Moderator: 
Peter York, Managing Director, Asset-Based Lending, J.P. Morgan Securities, LLC

Panelists: 
Maria Dikeos, Vice President Sr. Market Analyst, Thomson Reuters
Tom Sebekos, Principal, Financial Services Risk Management, EY
Jonathan Wivagg, Senior Study Director, Westat, Inc.


2:00 P.M. - 3:00 P.M.
Trade, Tariffs, NAFTA, Brexit – and More

The world economic order is undergoing significant change, particularly with respect to trade policies and tariffs. These changes are of great consequence to many asset based borrowers, but determining the specific impact can be very challenging. Starting from a macro-economic perspective and ending with a review of many of the most impacted sectors of our economy, this panel of professionals will explore the causes and potential consequences of the changes to trade policies across the world.

Moderator: 
Jeff Wacker, Managing Director - Head of ABL Origination, TD Bank

Panelists: 
Winnie Cisar, Head of High Yield Strategies, Wells Fargo Securities
David Gookin, Executive Vice President, Diversified Industries – Metals & Mining, PNC Bank
James Marple, Director & Senior Economist, TD Bank


3:00 P.M. - 3:30 P.M.

Coffee Break


3:30 P.M. - 4:30 P.M.
Retailing Beyond the Internet – Who Wins? 

Changing consumer behavior continues to rapidly reshape the retail world. The significant number of high profile bankruptcies over the past several years are symptoms of these changes, not causes. Retail market participants are constantly working to align their strategies to meet consumer expectations and build sustainable business models. What are the areas that are doing well and where is there continued risk? What is the market role of the "brand companies"? How should capital providers think about re-positioning their portfolios? These and other questions will be addressed by this panel of retail experts drawn from both the buyside and sell side of the credit markets.

Moderator: 
Jaime Ward, Head of Retail Finance, Citizens Bank

Panelists: 
Carla Casella, Managing Director, J.P. Morgan Securities, LLC
Ramez Toubassy, President, Brands, Gordon Brothers
David Silverman, Senior Director US Retail Team, Fitch Ratings


4:30 pm - 5:30 pm
Glad To Be Here; A Lesson in Teamwork, Trust and Performance from John Foley, Former Lead Solo Pilot of the Blue Angels

Every organization depends upon the performance of its people and its teams. There are few examples where this is more dramatically demonstrated than with the Blue Angels, the US Navy’s elite flight demonstration squadron. Through his multi-media presentation John Foley demonstrates a simple, systematic, yet exciting approach for developing the clarity, focus, commitment, and trust necessary to achieve ever-higher levels of performance. He shows how to create buy-in and commitment for a team’s vision and goals, leading to clarity that drives execution decisions. He also explains a process that he believes is the primary key to continuous improvement and exceptional growth.

This presentation sponsored by Wells Fargo as part of its ongoing commitment to supporting our military service members, veterans, and their families.

5:45 P.M. - 7:15 P.M.
OPENING RECEPTION


WEDNESDAY, FEBRUARY 6, 2019


7:45 A.M. - 1:30 P.M.

REGISTRATION 

 

8:00 A.M. - 8:45 A.M.
BREAKFAST


8:45 A.M. - 9:45 A.M.

Old Fashioned ABL

As the bank affiliated asset based lenders have become larger and more integrated into their respective organizations they have often tended to move away from more traditional asset based lending in search of growth more consistent with their broader organizational strategies. The needs of borrowers with more limited access to the banking market are increasingly being served by non-bank lenders. Many of these are practitioners of very traditional asset based lending. This panel of market practitioners will explore the market opportunity for non-bank asset based lenders, and the challenges they face for attracting capital as well as talent.

Moderator: 
Cyndi Giles, Head of Lender Finance, Wells Fargo Capital Finance 

Panelists: 
Ryan Cascade, Partner and Head of Ares Commercial Finance
Terry Keating, President and CEO, Accord Financial, Inc.
Scott Rosen, Partner, Solar Capital Partners
Gaurang Vyas, Founder and Managing Partner, Rise Line Business Credit


9:45 A.M. - 10:45 A.M.
How Litigation Can Shape Your Next Credit Agreement

The term sheets and credit agreements at the core of secured lending transactions are constantly evolving based on the risk environment, market conditions, and often from lessons learned during workouts, restructurings and litigation. Aggressive and dynamic market conditions in recent years have resulted in several significant court cases, the outcomes of which have impacted how new transactions are viewed and structured. This panel, consisting of experienced attorneys from both a borrower and creditor standpoint, will explore several of these recent cases – from the JCrew "trap door" transaction, Cumulus Media's note/revolver exchange, and NYDJ Apparel's attempted amendment, among others – and discuss their impact on structuring discussions and future documentation.

Moderator: 
Ian Feng, Attorney, Covenant Review, LLC

Panelists: 
Seth Jacobson, Banking Partner, Skadden, Arps, Slate, Meagher & Flom LLP
Michelle Kilkenney, Debt Finance Partner, Kirkland & Ellis
James Mazza, Restructuring Partner, Skadden, Arps, Slate, Meagher & Flom LLP
Mark McKane, Litigation Partner, Kirkland & Ellis


10:45 A.M. - 11:15 A.M.
COFFEE BREAK


11:15 A.M. - 12:15 P.M.
Food Glorious Food

The changing demands of the American consumer today is imposing tremendous change on the food supply chain, which is resulting in changes to the way food is grown, produced, labeled, and distributed. These changes, which are accelerating, are generating winners and losers all across the food complex, both domestically and internationally. They are also driving substantial capital investment and M&A. This panel of food industry specialists will explore the changing consumer demands and how they are driving change in the entire food supply chain.

Moderator: 
Erica Kuhlmann, Market Executive & Managing Director, Food, Consumer and Agribusiness Group, BMO Harris

Panelists: 
Matt Chlystek, Managing Director, Moelis & Company
Michael Johns, Managing Director, BMO Harris
Others TBD


12:15 P.M. - 1:45 P.M.
Lunch Session: A Conversation with Jordon Kruse of Oaktree Capital

Our special guest at the luncheon session will be Jordon Kruse, who will discuss his Oaktree’s view of the current investment opportunities for Private Equity and debt. Mr. Kruse is a managing director and co-portfolio manager of the Special Situations Group. He is responsible for management of the strategy and all of its investing activities. Prior to joining Oaktree in 2001, Mr. Kruse was an attorney at the law firm of Kirkland & Ellis where his practice focused on mergers and acquisitions, corporate finance and private equity. He currently serves on the Board of Directors of Dayton Superior, and has previously served as a director of numerous former investments in a broad range of industries. 

Moderator: 
Jim Marasco, Head of Originations, Wells Fargo Capital Finance


1:45 P.M. - 4:30 P.M.

CFA WICF Networking Event


4:30 P.M. - 5:30 P.M.
ABCC Capital Markets Update

Just when we thought markets couldn’t get more aggressive, in 2018 they did. The strong US economy, substantial bank appetite for new loans and record liquidity in the debt markets generally have resulted in increasingly borrower friendly markets with respect to pricing and terms. This high liquidity exists in both the regulated banks and private debt markets. The past year also featured two high profile retailer bankruptcies, Toys R Us and Sears Holdings. This panel of debt market professionals will explore the impact of the liquidity and the restructurings of 2018 and look forward into 2019 for their projections on how the debt markets will perform in 2019 and beyond.

Moderator: 
Barry Bobrow, Managing Director, Wells Fargo Capital Finance

Panelists: 
Meredith Coffey, EVP of Research & Analysis, Loan Syndications & Trading Association
Bill Hughes, Managing Director, Head of Loan Syndicate, Citibank
Janet Jarrett, Group Head of Asset Based Lending, Suntrust Robinson Humphrey
Darryl Kuriger, Managing Director, Bank of America Merrill Lynch
Rusty Parks, Managing Director, Guggenheim Partners


5:45 P.M. - 7:15 P.M.
Closing Reception with TMA Distressed Investing Conference

THE 2019 ABCC SPEAKER LIST

CFA has gathered an incredible lineup of leading authorities in the M&A industry to provide you with the latest trends, best practices, and analyses. 


Panelists

Ryan Cascade, Partner and Head of Ares Commercial Finance Ares Commercial Finance

Carla Cassella, Managing Director, J.P. Morgan Securities, LLC

Matt Chlystek, Managing Director, Moelis & Company

Winnie Cisar, Head of High Yield Strategies, Wells Fargo Securities

Maria Dikeos, Vice President, Sr. Market Analyst, Thomson Reuters

John Foley, Former Lead Solo Pilot, Blue Angels

David Gookin, Executive Vice President, Diversified Industries - Metals & Mining, PNC Bank

Bill Hughes, Managing Director, Head of Loan Syndicate, Citibank

Seth Jacobson, Banking Partner, Skadden, Arps, Slate, Meagher & Flom LLP

Janet Jarrett, Group Head of Asset Based Lending, Suntrust Robinson Humphrey

Michael Johns, Managing Director, BMO Harris

Terry Keating, President and CEO, Accord Financial, Inc.

Michelle Kilkenney, Debt Finance Partner, Kirkland & Ellis

Jordan Kruse, Managing Director and Co-Portfolio Manager, Oaktree Capital

Darryl, Kuriger, Managing Director, Bank of America Merrill Lynch

James Marple, Director & Senior Economist, TD Bank

James Mazza, Restructuring Partner, Skadden, Arps, Slate, Meagher & Flom LLP

Mark McKane, Litigation Partner, Kirkland & Ellis

Rusty Parks, Managing Director, Guggenheim Partners

Scott Rosen, Partner, Solar Capital Partners

David Silverman, Senior Director US Retail Team, Fitch Ratings

Ramez Toubassy, President, Brands, Gordon Brothers

Gaurang Vyas, Founder and Managing Partner, Rise Line Business Credit

Jonathan Wivagg, Senior Study Director, Westat, Inc.



   

CFA_Logo-WKO.pngCFA's Asset Based Capital Conference



Encore at Wynn Las Vegas
3131 S Las Vegas Blvd
Las Vegas, NV 89109
February 5-6, 2019