2024 AGENDA:

Plenary

19th November 2024

09:00	Opening Keynote Address Session ends: 09:20
09:20	Navigating market turbulence (and resurgence?): Piecing together the uncertain macroeconomic backdrop across CEE & CIS When will the FED cut rates? How will the region’s Central Banks react and what will be the impact? The unfortunate normalisation of conflict and geopolitical volatility: What is the resultant outlook for neighbouring countries? To what extent is debt pricing still being affected by regional conflicts? Reacting to the 2024 US election results: Assessing the immediate and longer-term implications for the region How are tense US-China relations impacting global trade? How can issuers get ahead of macroeconomic uncertainty to gain a competitive edge? Moderator Senior Economist, Global Geopolitical Strategist Speakers Senior Sovereign Strategist, Emerging Markets Managing Director, Chief Economist, Head of Raiffeisen Research Vice President – Senior Analyst, Sovereign Risk Group Session ends: 10:00
10:00	Serbia’s economic outlook and investment cycle “Leap into the future Serbia Expo 2027” The Serbian Deputy Prime Minister and Minister of Finance, Siniša Mali, will present on the country's economic trajectory and future plans. Key focus areas will include Serbia's investment cycle through 2027 providing a comprehensive view of the nation's financial strategy and priorities. This session will offer valuable insights for investors and stakeholders monitoring Serbia’s economic progress. Speaker Minister of Finance & Deputy Prime Minister Session ends: 10:20
10:20	Türkiye on the up! How can the market capitalise on the current window of opportunity, given the positive international sentiment regarding the Turkish story? What is driving the positive trend in Türkiye's economy? Examining the logic behind Türkiye’s upgraded country rating: Are further upgrades on the horizon and how will this impact Turkish access to capital? A return to economic orthodoxy: How effective have rate hikes been to combat hyperinflation? What does the remainder of the journey look like to return the Turkish economy back to normality? Transitioning from short to long-term funding solutions for Turkish borrowers What instruments are available to manage heightened FX risk? Which strategies have proved most effective for adapting to higher importation costs? Moderator Partner Speakers Managing Director & Senior Portfolio Manager - EM Fixed Income & Sustainable Investing Senior Director, Sovereigns Unit Head – International Corporate Banking, Financial Institutions Session ends: 11:05
11:05	Networking break Session ends: 11:50
11:50	Following a busy year of sovereign issuance, how ambitious are the 2025 funding plans of DMOs across the region and what liquidity is available to them? Given the unpredictable macroeconomic and geopolitical backdrop, how can sovereigns confidently determine their strategies for funding? What’s motivating sovereigns to tap ESG finance? Where does ESG feature on the funding priority list? To what extent do sovereign issuers need to adopt a longer-term funding mindset? What’s holding back EUR denominated sovereign issuance? How can sovereigns across CEE & CIS establish yield curves to help bring forth more FI and corporate activity in the capital markets? Moderator Head of CEEMEA Capital Markets Speakers Director General, Treasury Directorate Head of Debt Management Department Head of International Capital Markets & Investor Relations Director, Public Debt Department Session ends: 12:35
12:35	Identifying the “perfect” time to tap the market: With the market now accustomed to high interest rates, how will rate reductions impact the financing strategies of the region’s top corporates? Given an uncertain economic backdrop and ever-changing cost of capital, when is the best time to seek funding? Decisions decisions… Bonds vs. loans? Currency preferences? Conventional or ESG? Unravelling the plethora of choices facing CFOs and Treasurers Transitioning to lower rate borrowing environments: How will this impact deal flow and sizing? How to stimulate CEE & CIS’s debt capital markets: What would motivate corporates to expand their sources of funding beyond local relationship bank loans? Finding solutions to combat the impact of high exposure to FX, trade and capital flows across the region Moderator Executive Director CEEMEA, DCM Speakers Chief Financial Officer Partner Session ends: 13:15
13:15	Where are banks deploying their capital and how are they looking to gain a competitive edge, given the high levels of liquidity available in the region’s loans market? Reviewing the last 6 months of loan deal flow: What stood out from the crowd? What’s the outlook for 2025? Which sectors should we expect to see the most activity from? Which market dynamics have the greatest influence on the current levels of pricing and tenors? How does country rating risk impact pricing? To what extent are international banks being overlooked across CEE, CIS & Türkiye? Which sophisticated products do they have at their disposal to differentiate their offerings from local banks? How much of a concern does the growth of private credit as an asset class create for syndication bankers? Moderator Partner Speakers Deputy Head of Corporate Finance Chief Country Officer, Türkiye Managing Director, Co-Head of Corporate Origination, Loan Capital Markets, EMEA Session ends: 13:55
13:55	Networking lunch Session ends: 15:00
15:00	What’s driving the impressive levels of investor demand for debt across the region? What do investors need to see from issuers to maintain this appetite throughout 2025? How long can investor appetite remain so high? What’s motivating this? To what extent does a ‘fear of missing out’ drive investment activity? If this is a trend, how sustainable is it? Where do international investors see the most value within the region’s credit markets? How comfortable are investors with the degree of price tightening seen throughout 2024? Based on the improved (and improving) Turkey rating and international perception, how are investors shifting their portfolios? Moderator Executive Director, Debt Capital Markets Regional Head Speakers Vice President/Director - Corporate Credit Research, Emerging Markets Portfolio Manager, Corporate Credit Funds Head of Debt Capital Markets and Syndicate Session ends: 15:40
15:40	Unlocking the potential of Islamic Finance in Turkiye: How should Turkish issuers look to tap into the substantial liquidity available in the GCC? What has driven the increased number of Islamic finance transactions in Turkey throughout the past year? What’s holding some GCC banks and investors back from the Turkish Islamic finance market, and what criteria are they looking for from potential issuers? Which Islamic finance products are available from banks? Why regulatory easing is necessary to streamline transaction preparation requirements, reduce barriers to entry for new issuers, and accelerate Islamic deal flow Moderator Partner, Global Head of Islamic Finance Speakers Chief Financial Officer Chief Financial Officer Executive Director, Head of Islamic Origination Session ends: 16:20
16:20	Think Tank – A successful debut: How should growing businesses approach their first Eurobond listing? Any debut transaction comes with additional challenges for issuers. A lack of track record means limited investor familiarity, which can impact potential interest. Timing and market conditions are even more important to secure favourable pricing. Plus, there are extensive additional structuring and documentation requirements for debut listings. All of this can make the prospect of a debut bond issuance somewhat daunting. During this think tank we will explore some of the key questions and concerns facing potential new issuers, including: What are the first steps and considerations to take as a first-time issuer? How to find, target and secure investors? How much will it cost to access Eurobond market? How do the rules differ to list on different exchanges? How can/do exchanges make it easier for companies to list and publish transaction documentation? Moderator Partner Speakers Director - Debt Capital Markets & Project Finance VP & Head of Middle East, Turkiye, Greece Session ends: 17:00
17:00	Which financing instruments are currently available to Financial Institutions across the region as they look to optimise their balance sheets? How successfully have FIs strengthened their balance sheets over the past couple of years? How are FIs adjusting their borrowing and balance sheet management strategies to operate in a higher interest rate environment? What doors have been opened for Turkish FIs following the return of AT1 bonds in 2024? What role can alternative financing instruments play, such as securitised products and covered bonds? Who can and can’t access these instruments? Session ends: 17:40
17:40	Close of Conference Day 1, followed by Networking Drinks Reception

20th November 2024

09:10	Maintaining the momentum of ESG finance: How aligned are financiers, borrowers and investors with regards to ESG? Does a greenium still exist for issuers? As the previously available pricing benefits of ESG deals erode, what will motivate issuers to tap ESG funding given the additional levels of complexity, documentation and reporting required? How are banks looking to deliver on their commitments to deploy sufficient levels of ESG lending? How can issuers best position themselves to tap into green investors and deeper pockets of liquidity? What do investors need to see from borrowers? What’s required from issuers to successfully execute a debut ESG transaction? How much easier is it for established ESG issuers to access funding? At what point might ESG become the norm and eclipse conventional financing? Speakers Group Director of Investor Relations Chief Financial Officer Director, Sustainable Finance Executive Director, DCM & Sustainable Bonds Senior Investment Officer and Regional Sustainable and Climate Finance Lead Session ends: 09:50
09:50	Keynote Interview – How Austria’s green holistic framework has laid the foundations for diversified green issuance Speaker Managing Director, Markets Session ends: 10:10
10:10	How is transition finance helping to pave the way to net zero across CEE, CIS & Türkiye? Is the financial community doing enough? Many countries across the region are still heavily reliant on fossil fuels, both from the perspective of economic strength and energy security. How can the financial community ensure steps are taken to enable a balanced approach to energy transition? Where do financiers draw the line on which projects are deserving of transition finance? Assessing the revised role of carbon credits within scope 3 criteria and how this reflects a more pragmatic approach to achieving emission reductions How do investors view energy transition efforts across the region, as they look to balance yield with green credentials? What role do (and should) finance functions play in formulating their company’s wider ESG strategy? A closer look at green project pipelines in CEE, CIS & Türkiye Moderator Global Head of Analytical Governance - Sustainable Finance Speakers Head of Investor Relations & Treasury Chief Financial Officer Session ends: 10:50
10:50	A closer look at frameworks, taxonomies, regulations, and standardisation: To what extent do these endeavours help to proliferate ESG deal flow? How applicable are international (and regional) frameworks and taxonomies across CEE, CIS & Türkiye? To what extent does the new European Green Bond Standard provide a gold standard for issuers to abide by? Assessing the ROI of implementing increased ESG reporting to align potential green transactions with global ESG standards Is there still a corporate ESG knowledge gap throughout the region? How can banks help to educate and guide corporates that are establishing their own ESG frameworks? Does regulation need to play catch up with an already sophisticated ESG market? What are the most significant regulatory shortfalls that need addressing? Moderator Head of Sustainable Markets Speakers State Secretary Executive Director for Strategic Finance Senior Director, ESG / Sustainable Finance Session ends: 11:30
11:30	Networking Break Session ends: 12:15
12:15	How and why has Uzbekistan become the focal point of the CIS’s capital markets? Examining the economic reforms and market liberalization policies implemented by Uzbekistan, which have attracted foreign investment and boosted confidence in its capital markets How does Uzbekistan's strategic location in CIS serve as a bridge between major markets in Europe and Asia, enhancing its appeal to investors and multinational corporations? Modernizing regulatory frameworks to foster a more stable and transparent capital market environment A closer look at Uzbekistan’s wider role within CIS and how its proactive economic initiatives have set a precedent and model for other countries in the region looking to develop their own capital markets Moderator Managing Director Speakers Ex-Deputy Minister of Finance for the Republic of Uzbekistan \| CEO and Co-Founder Chief Financial Officer Director - DCM Syndicate Session ends: 13:00
13:00	What’s fuelling the growth, return and appeal of development finance across CEE, CIS & Türkiye? Understanding why development finance plays such a crucial role, given the size of the region’s funding gap Examining the challenges and opportunities faced by DFIs and ECAs to promote sustainable and inclusive growth What steps should SMEs be taking to tap into the financing available from DFIs, IFIs, and ECAs? How and why should borrowers actively look to partner with ECAs? Is there a legitimate argument that corporates have become overly reliant on DFI financing? Examining the role of DFIs in private credit and how this plays into their overarching mandates Speakers Chief Financial Officer Chief Financial Officer Global Head of Investor Relations & M&A Session ends: 13:40
13:30	Close of Conference

Mergers & Acquisitions

19th November 2024

09:25	How is the strategic imperative shifting in a high inflation/interest rate environment? Where is the market in the current cycle? Unpacking the main investment motives for financial and strategic buyers Will consolidation and a focus on core competencies continue to drive the M&A agenda? In a high inflation/ interest environment, what forms of M&A will thrive? When will transformative transactions return to the market? Will the normalization of interest rates lead to a recovery in deal volumes? Implications of outbound M&A in Turkey; what countries and sectors are being targeted? Examining the implications of the Turkish regulations to curb inflation and restrict foreign currency loans How will the market react to the government's plans to collect taxes based on net sales rather than taxable income? Speakers Vice Chairperson Managing Director Energy Group President and Board Member Executive Director Session ends: 10:05
10:05	Understanding the evolving valuations landscape and bridging the gap between buyer and seller expectations Will the gap between the bid and ask prices continue to widen? What is driving this? To what extent is inflation distorting valuations? How will accounting methodologies evolve to adjust for inflation? Why are transactions taking so much longer? What solutions are on offer to resolve this? In which sectors are multiples the most attractive? Spotlight on due diligence best practices to speed up transactions How aligned are buyers and sellers on representations and warranties as a risk management mechanism? How is W&I insurance being utilized to alleviate this? Speakers Managing Partner Managing Partner Managing Partner Deputy General Manager / Business Development & Head of M&A Head of M&A Group Session ends: 10:45
10:45	Networking Break Session ends: 11:30
11:30	How are dealmakers evaluating alternative sources of finance? Examining how and why NAV financing is being used How are Turkish dealmakers overcoming government restrictions on foreign currency loans? What are the solutions? How attractive is private credit to the middle market? Will its scope widen? How much liquidity is there for M&A? How will spreads evolve in the leveraged and acquisition finance markets as interest rates normalize? Examining the cost of funding in the Eurobond market relative to the loan markets Will the IPO market provide a more attractive exit for sponsors and a financing route for corporates? What restrictions are banks placing on certain sectors? Speakers Head of Corporate Finance & Treasury CFO Head of Treasury & Investor Relations Session ends: 12:15
12:15	Keeping ahead of anti-trust and regulatory developments: How are thresholds and definitions changing? A review of deals that have been reviewed by the competition authorities: What is being scrutinized? Clarifying how substance tests/thresholds and procedures are evolving What are the implications of the change from a dominant position test to an efficient competition test in Turkiye? How are technology undertakings being scrutinized? What solutions are being designed? What are the practical implications? Effective strategies to manage and mitigate regulatory scrutiny Session ends: 13:00
13:00	Lunch Session ends: 14:15
14:15	Value creation and finding relative value in the next cycle: How will private capital be deployed? Defining investment themes: growth vs value creation? Asset allocation: which sectors and regions are undervalued? How are continuation funds being used for innovation and performance? How are LPs viewing this vehicle? How much leverage is being achieved in the current rate environment? Will there be a greater emphasis on operational improvements to maximize value? What impact is political risk and geopolitical tensions having on fundraising? Identifying growth sectors: energy security, onshoring/ nearshoring, supply chains, and AI Speakers Managing Partner Partner Session ends: 15:00
15:00	Creating value from operational and commercial excellence The changing requirements of due diligence: currency exposure, social licenses, IP A look at deal failure: what are the pressure points, and how can deal speed deal certainty be improved? What role will technology play in driving efficiencies across due diligence and integration? Valuations best practices: determining an acceptable buy-sell price Post-deal integration strategies Accounting: reconciling local tax and accounting with international standards when dealing with different jurisdictions Speakers CFO Managing Partner Executive Director, Strategy Session ends: 15:45
15:45	End of Conference

Equity Capital Markets

20th November 2024

09:20	Chairpersons opening remarks Session ends: 09:30
09:30	Market scene setter: Defining the equity capital markets across the region What is the market outlook for the next 18 months? What is driving momentum? Analysis of key macro signals (high inflation, currency depreciation) and impact on equity capital markets Analysis of PE and VC activity relative to the rest of Europe Breakdown of regional IPO activity across countries and sectors Growth in ECM activity across the GCC, potential implication for Turkey and the broader region Speakers Managing Director Equity Capital Markets Group CFO Session ends: 10:00
10:00	Effective strategies for securing growth funding: How are VC funds evaluating the region? Who are the most active funds in the region? What are the successful strategies for securing A, B and C funding? How attractive are valuations and multiples in the current climate? To what extent is inflation distorting valuations? How are accounting methodologies evolving to account for inflation? The road to growth: debt vs equity: how are companies evaluating debt and equity solutions to accelerate growth? Moderator General Partner Speakers Managing Partner General Partner Managing Director Partner Session ends: 10:45
10:45	What is required to increase private equity investment in the region? How are LPs viewing the region relative to other jurisdictions? Are funds sitting on dry powder? How will this be deployed in a high interest rate/inflationary environment? What forms of PE will drive deal flow? Continuation funds, secondaries, distressed private equity? Technology advancements and data-driven decision-making: What is the potential for technology to drive future innovation and investment strategies? What innovations are funds using the create value? Moderator Investment Lead Speakers CFO Director, Investor Relations Chief Financial Officer Session ends: 11:30
11:30	Networking Break Session ends: 12:00
12:00	Fireside Chat: A roadmap to launching a successful IPO In this session, we will look at what it takes to launch a successful IPO from start to finish. Key steps include thorough market analysis, robust financial reporting, strategic investor engagement and creating a compelling growth narrative. This case study highlights how comprehensive preparation and execution can significantly boost investor confidence and position a company for substantial growth in both domestic and international markets. Speakers Group CFO Executive Board Member - Head of Corporate Transactions and Investor Relations Session ends: 12:30
12:30	Utilizing equity-linked products to strengthen balance sheets and drive growth Understanding hybrid bonds and how they are used to mitigate rising interest rates Balancing issuer and investor demand against a volatile market and evolving regulatory landscape How are equity-linked products being used to strengthen books and de-leverage balance sheets? Defining the future of equity-linked products in a changing financial environment Speakers Chief Financial Officer Head of Investor Relations & Treasury Session ends: 13:15
13:15	Close of Conference