|
|
|
 |
| |
|
|
We are pleased to announce that the following people will be speaking on the Lending and Credit Panel:
|
| Hamish Buckland, Global Head & Managing Director (Leveraged Finance), JP Morgan |
| Eugene Leouzon, Managing Director (Leveraged Finance), Goldman Sachs |
| Neil Thomson, Principal, Apax Partners |
| Steve Coates, Partner (Leveraged Buyouts & Special Situations), Warburg Pincus |
| Guy Davies, Partner, Permira |
| |
| The panel is to be moderated by: |
| John Markland, Partner, Kirkland & Ellis |
| |
The panel discussion will revolve around the following sub-themes:
With real interest rates close to zero and risk spreads at a historical low, debt financing has become a very cheap source of financing for LBOs. This “cheap credit” confronts buyout-firms with new challenges, like fierce competition and high valuations of target firms, but also offers higher expected returns due to higher leverage multiples. A discussion of the actual situation and perspectives should prove very interesting.
Some of the aspects proposed to be covered in the panel discussion are:
- Have we entered a long-term phase of high liquidity and cheap credit or is the credit cycle about to turn?
- How is a turn in credit-spreads going to affect the LBO market?
- Are buyout-firms prepared for a potential increase in the cost of debt?
- Are current leverage ratios sustainable?
- How has the cheap credit affected valuations, expected returns and risks in the buyout market?
- Who are the real beneficiaries and the losers of the cheap credit?
- What market segments have most benefited / suffered from this environment? |
| |
|
|
|
|
|
