INFINZ Debt Capital Markets Forum 2008

Agenda - Wednesday, 7 May 2008

9.00 am	Forum opening and welcome Tyler Lovering, Director, InAssociation introduces Paul Hocking, Executive Director, INFINZ
9.05 am	Presentation The credit crunch in 2008 Economic context Investor strike (unravelling of SIVs) Impact on the structured finance sector Impact on banking sector Impact on corporate sector Impact on the economy Outlook John Miles, Senior Director, Fitch Ratings DOWNLOAD PRESENTATION HERE
9.35 am	Presentation Outlook for the A$ and NZ$ debt capital markets 2007/2008 review Outlook for 2008/2009 Implications and opportunities for borrowers Samantha Ridler, Head of Syndicate, nabCapital Florence Besson, Associate Director, Debt Capital Markets Origination, Bank of New Zealand DOWNLOAD PRESENTATION HERE
10.05 am	Presentation Outlook for New Zealand's housing sector NZ economic outlook and OCR forecasts House prices - how far to fall? Does NZ have a US-style glut of houses? Dominick Stephens, Research Economist, Westpac Institutional Bank DOWNLOAD PRESENTATION HERE
10.35 am	Morning tea break
10.55 am	Panel discussion The Kauri bond market - leading the way in 2008 AAA Kauri - from zero to NZ$6 billion in six months Who are the issuers? Who are the investors? Substitute for government bonds? What about retail? Can the Kauri market replace the Eurokiwi market? Kauri index? Chaired by Patrick Mullins, Head of Capital Markets Origination, Bank of New Zealand and John Marsh, Head of Institutional and Investor Sales, Bank of New Zealand Panellists include: John Groom, Manager - Domestic Markets, Reserve Bank of New Zealand Ross Pennington, Partner, Russell McVeagh Charles Roberts, Head of Rates, Bank of New Zealand
11.40 am	Presentation The proposed new model for securitisation in Australia and possible implications for New Zealand Mortgages are the mainstay. Is the mast looking wobbly? What can we learn from Canadian developments and current Australian thinking? Could a new government-guaranteed mortgage-backed security re-float this market? But would the government be prepared to take the helm? Ross Pennington, Partner, Russell McVeagh DOWNLOAD PRESENTATION HERE
12.10 pm	Presentation The star spangled bond market - why NZ corporates are looking to US private placement markets Review of 2007 The US private placement market remains open despite the current turmoil Overview of current market conditions What are the advantages of raising capital in the US private placement market? Rod Smith, Head of Debt Capital Markets, Westpac Institutional Bank introduces Stephen M. Mahoney, Managing Director - Private Placements, Bank of America
12.40 pm	Networking lunch
2.15 pm	Panel discussion 2008: A new year for the non-bank sector A year on from the changes to legislation, where are we at? What funding options are still available? How has business changed since the new legislation? Chaired by Max Brown, Head of Fixed Interest, Forsyth Barr Panellists include: Tim Loan, General Manager Finance, Southland Building Society John Callaghan, Managing Director, NZ Finance Bruce Anderson, Head of Finance, UDC Finance John Miles, Senior Director, Fitch Ratings DOWNLOAD PRESENTATION HERE
3.00 pm	Keynote presentation An introduction to Craig Foss, Associate Spokesman for Finance National Party of New Zealand His finance experiences, NZ, Europe, Japan The knowledge (or lack of) that Parliament and the general public has about financial markets Understanding how governments use debt Linking debt to productivity growth at both central and local government levels Craig Foss, Member of Parliament for Tukituki and Associate Spokesman for Finance, National Party of New Zealand
3.30 pm	Afternoon tea break
3.50 pm	Panel discussion Crystal ball gazing: If debt markets are no longer an option... In the current tight credit and depressed equity markets, what is the relative value of debt capital markets vs. equity capital markets? Hybrid securities - when do they come back into play? Conflicts of interest: When bank financiers also arrange bond issues When does the financial flexibility from subordinated debt offer good value? Are retail debt investors more "loyal" than banks? When to use the bank loan market? Chaired by Shaun Roberts, Director Investment Banking, Forsyth Barr Panellists: Sara Double, Treasurer, Fletcher Building Stephan Deschamps, General Manager Treasury, Fonterra Co-operative Group
4.25 pm	Panel discussion Holding court: The ball is in the investors' hands What is behind the success of the recent bank issuance? What will institutional investors look for in these challenging times? Where are we at in the liquidity cycle? Portfolio mix: What looks hot and what is not What’s the future for RMBS in NZ? Chaired by David Austin, Head of Investor Sales, Westpac Institutional Bank Panellists: Andrew Michl, Senior Investment Manager, ING New Zealand Fergus McDonald, Head of Bonds and Currency, Tyndall Investment Management Michael Warrington, Financial Advisor, Projects Resources
5.00 pm	Closing remarks and close of Forum Paul Hocking, Executive Director, INFINZ

INFINZ Certified Members will receive certification of 6 hours of Continuing Professional Development (CPD) for attending the INFINZ Debt Capital Markets Forum 2008. This will also go towards CPD requirements for the NZICA (New Zealand Institute of Chartered Accountants). For information on becoming an INFINZ member, please click here.

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