CREDITOR ENGAGEMENT CLAUSES
– Pro's and Con's
Monday, March 2, 2015
A Joint Presentation with ICMA and IIF
360 Madison Avenue, 17th Floor
(on 45th St. between Madison and 5th Aves.)
New York City
The ICMA sovereign debt contract reforms, including model aggregated collective action, pari passu, and creditor engagement clauses for inclusion in new sovereign bond contracts, were released in August 2014. They were endorsed by the IIF, and welcomed by authorities and commentators as a means of facilitating collective action and avoiding restructuring disruptions. Although some sovereign issuers have adopted the new provisions, some aspects relating to creditor engagement have met with resistance and/or indifference.
At this joint EMTA, ICMA and IIF meeting, following the roundtable held in London on February 5, buy-side market participants and leading capital markets and legal professionals will examine the pro’s and con’s of including creditor engagement provisions in sovereign bond contracts.
A further panel on March 31 will endeavor to summarize these proposals and the private sector’s reactions to them, and then articulate a sensible path forward. A DC panel may also be convened in the near future.
12:00 noon Registration
12:15 p.m. – 2:15 p.m. Panel Discussion
Hans Humes (Greylock Capital Management) – Moderator
Charles Blitzer (Blitzer Consulting)
Lee Buchheit (Cleary, Gottlieb, Steen & Hamilton)
Hung Tran (Institute of International Finance)
Aaron Kim (PIMCO)
Lunch will be provided
This Special Seminar is part of a continuing series of panels and presentations that EMTA is pleased to sponsor on various topics of interest to Emerging Markets investors and other market participants, and is part of EMTA’s Legal & Compliance Seminars*.
*CLE credit will be available for NY attorneys. This seminar is non-transitional and appropriate for experienced attorneys only. Please click here for details on EMTA’s Financial Hardship Policy.
Registration fee for EMTA, ICMA and IIF Members US$95 / US$695 for non-members.
Online Registration is now closed. If you wish to register, please contact Aviva Werner at firstname.lastname@example.org.