•Carlo Saba, European Head of Par-loan Trading,Deutsche Bank• James Yu, Partner, EQT Partners •Chetan Modi, Managing Director, EMEACorporate Finance,Moody’s• Jonathan Butler, Managing Director,Pramerica Investment Management•Colin Atkins, Managing Director and Head ofEuropean Structured Credit,The Carlyle Group• Fedor Sapronov, Managing Director, Head of Corporate Lending and Project Finance Department, Sberbank•David Wilmot, Managing Director,Babson Capital• Ed Eyermann, Managing Director, LeveragedFinance, Fitch Ratings•David Saab, Executive Director, JP Morgan AssetManagement Solutions•Kristian Orssten, Managing Director, Head ofHigh-Yield and Loan Capital Markets, JP Morgan• Pierre Heinrichs, Principal, Bain Capital

•Michael Marsh, Managing Director, Head of EMEAHigh Yield and Leveraged Loan Capital Markets,Goldman Sachs•Oliver Duff, Managing Director, Global Head ofLeveraged and Acquisition Finance,HSBC•Steven Paget, CDO Analyst, Pramerica Investment Management• Jeff Boswell, Head of Portfolio Management –Credit Fund Management, ICG• John Gripton, Head of Global InvestmentManagement Private Equity, Capital Dynamics•Helen Steers, Partner, Pantheon•Alexandra Dimitrijevic, General Manager ofResearch & Leveraged Finance Analytics,Standard & Poors Ratings Services• Jonathan Pearson, Vice President, Head ofCorporate Finance, Liberty Global•Mathew Cestar, Managing Director, Head ofLeveraged Finance EMEA, Credit Suisse•Brian Lindley, Director, Debt Finance,The Carlyle Group

•Michael Dennis, Managing Director,Ares Management•Rafael Calvo, Partner,MezzVest•Matt Leventhal, Director, Head of European Loan Trading, Barclays•Marc Boughton, Chief Executive, CVC CreditPartners•Richard Howell, Partner, PAI Partners•Chris Mauss, Director, Private Equity,Dubai International Capital•Nick Voisey, Director, Loan Markets Association • Fiona Hagdrup, Fund Manager, LeveragedFinance,M&G Investments•Bruno Ladriere, Managing Director - LBO Funds,AXA Private Equity •Stephen Mostyn-Williams, Chief ExecutiveOfficer,DebtXplained•Craig Abouchar, CEO Europe,Castle Hill Asset Management•Matthew Sabben-Clare, Partner, Cinven•Robin Doumar, Managing Partner,Park Square Capital

Confirmed speakers include:

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Leveraged debt volumes in Europe areon the rise

Source: Dealogic; data includes leveraged loan and high yield bond volumes

As the jumbo LBO market reopens, leverage levels return andEuropean CLOs come back from the dead, our LeveragedFinance 2013 Conference will be your key destination todiscuss this upsurge of the European market.

Euromoney Seminars’ Leveraged Finance Conference is the one event to attend to be on top of the industry. Now in its 7th year, we have welcomed over 1000 delegatesrepresenting over 300 companies from more than 30countries. Don’t miss out on your opportunity to find outfirst-hand from the most senior professionals how you can make the best of the leveraged finance revival.

Keep your finger on the pulse and find out where the marketis heading. Join your peers this September to:

• Discuss the trends of the coming year, evaluate the dealflow and debate financing innovation and deal structuringto stay ahead of your competition

• Learn about the most exciting deals of the market through in-depth presentations and top-level paneldiscussions that will bring you the insight to offer yourclients the best solutions

•Meet the key industry figures this September, includinglenders, rating agencies, law firms, private equity funds,corporate borrowers and limited partners and make thecontacts you need to source new business

Here's what some of the2012 delegates had to say:

“Impressive array ofspeakers from very diversebackgrounds formed astimulating debate”Carlo Fontana, Lloyds Banking

“The seniority of panelists and otherpresenters provide

unparalleled opportunityfor in-depth insights to the state of markets and the leveraged finance industry”Roger Leijonqvist, Triton

Market Insights

Sponsored leveragedloan volumes in Europe in January 2013 are at

€2.6 billion, more than fourtimes higher than last year

(S&P Capital IQ)

Liberty Global’s bidfor Virgin Media: £15 billion

In the EMEA region,the average dealsize is the highestsince 2005 (dealogic)

ISTA deal: 7.25times leverage

European high yield bondvolumes are already at €42.5 billion, about

60% higher than last year

12.30 pmWill liquidity in Europe tighten up again in 2014?• Buoyant high yield markets, CLOs, non-bank lending, availability ofbank debt and more: Is there still a liquidity gap?

• Always on the mind: What is happening with the Europeanregulatory framework?

• The phantoms of the city: Whatever happened to the maturity andrefinancing walls?

• Agnostic investors? How much differentiation is left between highyield and loan credit and what are the criteria for traditional loaninvestors to get into high yield bonds?

Ed Eyermann, Managing Director, Leveraged Finance, Fitch Ratings

1 pmLunch

2.30 pmDrivers of deal flow: Where are the new buyout dealsin the European market?• Will refinancing, amend-to-extends and dividend recaps remain atthis record high and where will the dry powder go?

• Like a needle in a haystack? How can financial sponsors sourceprimary opportunities and find the real growth stories for new buyouts?

• With risk comes opportunity: Examining deal potential and riskassessment in Europe’s periphery

Richard Howell, Partner, PAI Partners

3.15 pmFocus on small and midcap? What role canmezzanine play in European leveraged finance in 2014?• Flexibility, quick turnaround and privacy: What can mezzanineoffer sponsors these days?

• For the midmarket: Is the reduction of minimum bond issuanceand the yield compression cutting into mezzanine’s space ofcompetitive advantage?

• What pricings and terms are providers at, and how does itcompare to unitranche and direct lending?

Rafael Calvo, Partner, MezzVestRobin Doumar, Managing Partner, Park Square Capital

3.45 pmAfternoon refreshments and networking break

4.15 pmRealising investments in the current exit environment• Have vendors adjusted their price expectations and how does thisaffect ROI?

• How much longer will dividend recaps offer an alternative to exiting?

• How viable are IPO exits in the current environment?

• How can funds realise highly priced assets from pre-credit crunch times?

Bruno Ladriere, Managing Director - LBO Funds, AXA Private Equity

4.45Something old, something new: How will CLO liquiditydevelop in Europe?• What are the conditions for sustained CLO issuance and whateffects will regulation have?

• Pramerica, Cairn and beyond: What structures do the new CLOsemploy, does the arbitrage really work and how did they handlethe skin-in-the-game requirement?

• Taking stock: How was the reinvestment period and its end handled?

Colin Atkins, Managing Director and Head of EuropeanStructured Credit, The Carlyle GroupNick Voisey, Director, Loan Markets AssociationSteven Paget, CDO Analyst, Pramerica Investment Management

5.30 pmChairperson’s closing remarks followed by cocktail reception

© Euromoney Seminars 2013 Euromoney Seminars reserves the right to alter the venue and/or speakers. Euromoney Seminars is a division of Euromoney Trading Ltd.

Day One: Monday 2nd September 20138 amRegistration and refreshments

8.45 amChairperson’s opening remarks

9 amMacroeconomic overview: The need to know issues forthe leveraged finance industry in 2014• Lower tail risks, ECB actions and a deep financing market: Have wereached the turning point?

• Greece, Spain, Italy, Cyprus and more: Have European marketsreached a new composure in reacting to sovereign debt crises?

• What happened to the refinancing wall?• Has the loan fight back in comparison to bonds started?

Chetan Modi, Managing Director, EMEA Corporate Finance,Moody’s

THE ANNUAL HEADS OF LEVERAGED FINANCE DEBATE9.30 amStill competing for good credit?Covering current issues and debates, the core developments and controversies,the heads of leveraged finance will gather once again to discuss their industry.Hear the most prominent figures of European leveraged banking lay out theirtake on the market.

• Globalisation of the loan product: Influences of the US loan, globalhigh yield bond markets and changing investor base on theEuropean leveraged finance space

• The best credit and the rest: Why can only desirable credit accessleverage and why are lenders less willing to put a price on risk?

• Too far too soon? Are lenders taking too much risk in covenants,leverage levels and pricing in competition for good credit?

• What effect does the reduced CLO liquidity have on the industry?

Michael Marsh, Managing Director, Head of EMEA High Yieldand Leveraged Loan Capital Markets, Goldman SachsMathew Cestar, Managing Director, Head of Leveraged FinanceEMEA, Credit SuisseOliver Duff, Managing Director, Global Head of Leveraged andAcquisition Finance, HSBCKristian Orssten, Managing Director, Head of High Yield andLoan Capital Markets, JP MorganFedor Sapronov, Managing Director, Head of Corporate Lendingand Project Finance Department, Sberbank

10.15 amA converging leveraged debt space: What are theopportunities in transatlantic deal structures?• What is needed for US investors to look at European opportunitiesand will we see more US deals with European tranches?

• Does US-European convergence bring cov-lite and a more publicloan market with full ratings to Europe?

• After KDG and Virgin: What are the current conditions for USinvestors to accept European credit and will tight US pricingcontinue to cover the swapping costs?

Jonathan Pearson, Vice President, Head of Corporate Finance,Liberty GlobalChris Mauss, Director, Private Equity, Dubai International Capital

11 amMorning refreshments and networking break

PRIVATE EQUITY PANEL11.45 am In the driving seat – how are sponsors using excessliquidity to achieve favourable deal terms?• Diversification, disintermediation or concentration on corecompetencies: Where is the private equity industry headed?

• Higher leverage and looser covenants vs. flexibility:When dosponsors prefer high yield bonds or loans?

• Will we see the return of consortia with bigger deals coming to themarket and how big are the equity checks?

• Transferability, white and black lists: How much control cansponsors retain over their syndicate?

Pierre Heinrichs, Principal, Bain CapitalBrian Lindley, Director, Debt Finance, The Carlyle GroupMatthew Sabben-Clare, Partner, CinvenJames Yu, Partner, EQT Partners

www.euromoneyseminars.com/levfin13

For further information on sponsorship or exhibition opportunities please contact Jack Clarke, Tel: +44 (0) 20 7779 8569, email: jclarke@euromoneyplc.com

Feel like brushing up your debating skills?Contact Rebecca Römer

rromer@euromoneyplc.com, +44 207 779 8697

Day Two: Tuesday 3rd September 20138.30 amMorning refreshments and networking

9.00 amChairperson’s opening remarks

HIGH YIELD BONDS9.15 amHere to stay: High yield bonds in the leveraged finance space• Merely arbitrary distinction? How much have the high yield andleveraged loan market converged and how small can the minimumvolumes for high yield issuance get?

• Floating rate notes: Right instrument at the right time?

• Financing acquisitions: What’s PIKs got to do with it?

• How much are loan investors also looking at high yield bonds?

Jonathan Butler, Managing Director, Pramerica InvestmentManagementDavid Saab, Executive Director, JP Morgan Private Bank

10.00 amLP Panel: European resurgence in the global hunt for yield• How are global funds assessing European risk at the moment?

• Are the premiums for European risk satisfactory?

• Will LPs increasingly look at co-investment opportunities and howacceptable are private equity consortia for LPs?

John Gripton, Head of Global Investment Management PrivateEquity, Capital Dynamics

Helen Steers, Partner, Pantheon

10.30 amOn Loan Covenants: The Oxford style debateTwo teams will take the stage, and each will present opening argumentsand engage in a debate about a proposition with a genuine desire to swaythe audience.

The debate is styled to be confrontational and controversial – team membersof each side don’t necessarily hold the opinion they represent.

• This house believes that borrowers are holding lenders hostage toachieve terms that are dangerously close to pre-crisis forms

Stephen Mostyn-Williams, Chief Executive Officer, DebtXplainedCraig Abouchar, CEO Europe, Castle Hill Asset Management

11.15 amMorning refreshments and networking break

11.45 amLoan Trading: In the starting blocks for volumes topick up• Back from the grave: Effects of new CLO issues and vintage CLOreinvestment periods on trading

• Is loan supply finally picking up and when will it meet demand?• What is the acceptable rate for the risk in distressed debt in ayield-tightening environment?

• Are European loans becoming more public like in the US?

Carlo Saba, Director, European Head of Par-loan Trading,Deutsche BankJeff Boswell, Head of Portfolio Management – Credit FundManagement, ICGFiona Hagdrup, Fund Manager, Leveraged Finance,M&G InvestmentsMatt Leventhal, Director, Head of European Loan Trading, Barclays

12.30 pmComplementing or competing sources of debt?Direct and other non-bank lenders providing credit• What role can sovereign wealth, insurance and pension funds playin the leveraged finance space and how is the institutional loanmarket developing?

• What are the credit solutions offered by non-bank lenders and canthey ever be a competition to bank lending?

• The talk of the town: Is unitranche just the flavour of the month ordoes it offer something new?

• Is the UK Treasury Business Finance Partnership (BFP) schemesparking direct lending strategies by fund managers?

Michael Dennis, Managing Director, Ares ManagementDavid Wilmot, Managing Director, Babson CapitalMarc Boughton, Chief Executive, CVC Credit PartnersAlexandra Dimitrijevic, General Manager of Research &Leveraged Finance Analytics, Standard & Poors Ratings Services

1.15 pmChairperson’s closing remarks followed by lunch andclose of conference

www.euromoneyseminars.com/levfin13

Vickie Shoesmitht: +44 (0)20 7779 8514e: vshoesmith@euromoneyplc.com

Rebecca Römer,t: +44 (0) 20 7779 8697e: rromer@euromoneyplc.com

Jack Clarket: +44 (0) 20 7779 8569e: jclarke@euromoneyplc.com

Registration SpeakersSponsorship

Attending LevInvest 2013 will be:

Mark your calendars now for LevInvest 2013 and don’t miss this unique meeting of the leveraged finance community inEurope’s financial capital.

• Private equity firms• Loan origination and arrangers

• High Yield bondarrangers

• Banking lawyers • Loan distribution and credit sales

• Mezzanine investors• Securitization lawyers

• CLO managers• CLO investors• Institutional investors• Loan traders• Limited partners

• Capital markets lawyers

• Rating agencies• CLO arrangers• Trustee services

Two days, two conferences, one location: Twice the networking, twice the brand

exposure, twice the value

Private Equity Funds

Rating Agencies

CLO FundManagers &Investors

LeveragedFinance Banks

Institutional & AlternativeLenders

The Leveraged Finance Conference will be part of a bigger event – LevInvest 2013.

New for 2013: Reacting to the industry’s enthusiasm, Euromoney invites the leveraged finance community to London forLevInvest 2013. Two parallel conferences, Leveraged Finance 2013 and The European CLO Congress will cover the entire supplychain. The complementary agendas will address issues and opportunities for deal sponsors and their burgeoning appetite forleveraged loans as well as investor interest in the reinvigorated CLO investment vehicle.

2nd & 3rd September 2013 • Landmark Hotel, London

2nd & 3rd September 2013 • Landmark Hotel, London

Payment can be made in one of three easy ways – please tick the appropriate box.

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Should be made through Lloyds TSB Bank Plc, City Office, PO Box 72, Bailey Drive, Gillingham Business Park, Gillingham, Kent, ME8 0LS, UK. Beneficiary: Euromoney Seminars. Account Number: 01938032Sort Code: 30-00-02, IBAN: GB 53 LOYD 300002 01938032Swift Code: LOYD GB2 LCTY quoting ELE1200.

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Venue:The Landmark London Hotel222 Marylebone Road London NW1 6JQUnited KingdomTel +44 (0)20 7631 8000Nearest tube: Marylebonewww.landmarklondon.co.uk

Travel & Accommodation:When you register you will be sent a hotel booking form with a username and password to requestaccommodation through the online reservation system.

Banks Sadler have negotiated preferential room rates on behalf of all Euromoney delegates and look forward to assisting you with the best accommodation for your budget.

Cancellation policy: Cancellations must be received in writing (letter, fax, email) by 19th August 2013. All cancellations received by this date will incur a 10%administration fee. If payment has been made, a refundless 10% will be processed; any outstanding invoices willbe liable for 10% of the registration fee. Cancellationsmade after 19th August 2013will be liable for the fullconference fees. Should you be unable to attend theevent, a substitute may attend in your place at no extracharge. Conference passes are for an individual delegateonly to attend both days of the event and cannot be splitbetween days with others.

Registration fee: The registration fee includesparticipation in the conference, lunches and documentationmaterial, which will be available in electronic formatthe night before the event. Please use your usernameand password in order to access them. All bookingsare considered binding on receipt of the booking form.Euromoney Seminars reserves the right to change thecurrency and pricing of conference at any time up tothe date of the event

For immediate information on this and related events, please call our hotlinesTelephone: (UK) +44 (0)20 7779 7222 or (US) +1 212 901 3828or alternatively email:registrations@euromoneyplc.com

For further information on sponsorship or exhibition opportunities please contact Jack Clarke, Tel: +44 (0) 20 7779 8569,email: jclarke@euromoneyplc.com

Payment

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To register for this event please complete your details below:Conference - Full Price after 19 July 2013 £1499.00Conference - Early bird offer until 19 July 2013 SAVING £100 £1399.00

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