This website uses cookies. By using this website, you agree to our Cookie Policy.
11th Annual Investors' Conference on CLOs and Leveraged Loans
Cadwalader is proud to sponsor IMN's 11th Annual Investors' Conference on CLOs and Leveraged Loans. Our partners Joseph Beach, Jeffrey Rotblat and Neil Weidner will present on the following panels:
Monday, May 23
 |
ESG CLOs: Moving from ‘Sustainable’ to ‘Conscious’2:00 PM - 2:45 PM Neil Weidner, Partner, Capital Markets |
Discussion topics include:
- Is ESG a viable strategy for CLOs? Why has the US market been slower to adapt then Europe?
- Standardized tools for analysis of ESG in a CLO portfolio and Navigating ESG Policy Reporting.
- What are manager and investor policies around ESG? How to effectively manage positive and negative screening, and other key ESG metrics considered when constructing a portfolio.
- Transparency in disclosure and reporting for ESG – How is this being managed and what is needed to create further transparency in ESG?
- What does ESG integration mean for underlying asset composition and legacy assets? How will this affect refinancing and resets?
- How does this affect bringing credit into the market? When you apply an ESG label to a corporate, do you look at the supply chain? How far along the chain needs evaluated?
- Rating agency and analytical approaches to ESG measurement and integration.
- CLO manager certification for ESG and how it could make the manager more attractive.
 |
The Story ‘SO-FaR’: Reference Rate Transition & Regulatory Concerns3:15 PM - 4:00 PM Joseph Beach, Partner, Capital Markets |
Discussion topics include:
- SOFR Transitions- implications to CLOs legacy, current holdings, CSA/approach, state of loan market issuance.
- How is the transition process going? And how is the market responding to its impacts? E.g. CLO Arbitrage, potential basis mismatch.
- If historical basis between LIBOR SOFR has been the ARRC recommended CSA, then why is the market still stuck on 10/15/25? And how will loans trade when the basis is near ARRC levels?
- How will this new benchmark behave in a Fed tightening/easing environment.
- Do other fixed rate alternatives provide more carry for income buyers.
- What other regulatory concerns are top of mind right now, and what hurdles are there to overcome? What has the new administration meant for the CLO market: Volcker, risk retention, a bullish year for ESG?
Tuesday, May 24
 |
CRE CLOs: Expanding Momentum2:15 PM - 3:00 PM Jeffrey Rotblat, Partner, Capital Markets |
Discussion topics include:
- Market outlook amid a distressed commercial real estate market
- Static vs Managed, and other key structural trends
- What are the key factors driving CRE CLO issuance, and what factors will most affect CRE CLO market activity over the coming year? E.g., SOFR Transition, Relative Value to other asset classes, macro real estate markets, rising rates, other black swans?
- Are there signs of a maturing market, or is there still room for external growth? What models exist for new entrants, and how much more flexibility do managed structures provide?
- How are investors viewing relative value for CRE CLOs across the product spectrum, activity between the primary and secondary market? What asset types are favourable to investors?
