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ICMA Workshop: Bond syndication practices for compliance professionals and other non-bankers
 
Date and Venue

Date:
1 November 2017
Time: 
08.30-17.00

Venue:
International Capital Market Association (ICMA) Limited
23 College Hill
London EC4R 2RP
United Kingdom


Workshop Overview

This workshop aims to give compliance professionals an in-depth and thorough understanding of the practices that are involved in launching a deal in the international debt capital market.

The course explains precisely how the deal is done, starting with first steps in the pre-launch process - looking at the pitch book, the mandate, the roadshow and the prospectus - through syndication, including book building and allocation, up to and including the final public launch of the issue.

At each point in the progress of the deal through to launch, the interaction of current regulation with the process, was considered (including the Market Abuse Directive and the Prospectus Directive). The session will interactive, giving participants the opportunity to raise and discuss queries from their own experience.

An introductory session on the role and characteristics of the international bond market and the expectations of bond investors features in the seminar, as well as an explanation of role and scope of the ICMA’s Primary Market Handbook, the internationally recognised guide to best practice in this area.

The workshop is delivered by a former capital markets professional with direct experience of deal management, who is also a reviewer for the ICMA Primary Market Handbook.

If you have any queries regarding this event please contact Natasha Lee.

Delegate Fees

ICMA Member: £350 + 20% VAT
Non Member: £650 + 20% VAT

Delegate fees are payable, in advance of the course start date, by credit card (Visa, MasterCard) or on receipt of an invoice after registration has been received.

For security reasons, delegates who have not registered in advance will not be admitted to this workshop.  Delegates will be required to provide photo identification on arrival, to ensure entry.




08.30 Registration, Tea & Coffee

09.00 Presentations begin

Introduction

•    International bond market
      o    Key attributes
      o    History
•    Bond types
      o    Global
      o    MTNs
•    Bonds vs. Loans
•    What do borrowers want?
•    Determinants of a successful issue

Pre-Launch

•    The Pitch Book
•    The Mandate
•    The Roadshow
      o    Deal or non-deal
      o    ‘Sounding out’
      o    Conflicts of interest
      o    EEA MAD, CSMAD & MAR
•    Due Diligence

Syndication

•    Why syndicate?
•    Syndicate roles
•    The ‘Pot’ System
•    Active v. Passive
•    Stabilisation
•    Fees & expenses

The Deal Process

•    Announcement
•    Syndicate Invitation
•    Organising the syndicate
•    Bookbuilding
      o    Duration
•    Assessing demand
      o    ‘De-duping’
      o    Order inflation
•    Allocation
•    Pricing
•    Launch
•    The Invitation telex/Confirmation to Managers
•    Closing

Documentation

•    EEA Prospectus Regulation/Directive
•    Base Prospectus
•    Final Terms

Liability management

•    Open Market Repurchases
•    Public Tender offers
•    Exchanges
•    Consent Solicitation / Noteholders’ meetings

The ICMA Primary Market Handbook
•    Purpose
•    Content
•    Instruments covered
•    Application
•    Standard documentation

Summary


17.00        Close

This agenda is subject to change

Register on-line for the ICMA Workshop: Bond syndication practices for compliance professionals and other non-bankers, being held in London on 1 November 2017

Personal details

Employer details

 

Special requirements and comments

 

Terms and Conditions

1.1
I understand that my reservation for the above workshop shall be accepted and confirmed if ICMA sends me a respective confirmation in writing within 3 business days from receipt of my payment. I also understand that if ICMA does not send me such confirmation within the specified period my reservation could not be considered and that the workshop fee will be refunded to me in full.

1.2

I agree that ICMA shall have the right to cancel courses and workshops at its own discretion for any reason (including e.g. if a sufficient minimum number of participants is not reached before the start date of the relevant course). In the event of such cancellation, the course fee will be refunded to me in full. I agree that ICMA shall not be liable for any expenses incurred by me, my employer, or anyone else on my behalf, due to the cancellation.

1.3
In case I want to cancel my reservation for this workshop I shall notify ICMA (attention Events team) in writing without delay. I agree to the following cancellation fees being applied by ICMA:

until the 30th business day before the start date of the relevant course = 10%
from the 29th business day to the 15th business day before the start date of the relevant course = 50%
from the 14th business day to the last business day before the start date of the relevant course = 75%
on or after the start date of the relevant course = 100%

1.4
I agree that if I fail to attend this workshop no refund of the course fee shall take place.

1.5
I understand that substitutions can be made at no charge subject to the condition that ICMA (attention Events team) is notified accordingly in writing and provided with the details of the substitute (see 1. above) not later than 48 hours before the relevant workshop commences.

1.6
I agree that ICMA and its affiliate entities may retain the information supplied on this form on a database and use it for the purpose of course and event administration, and, UNLESS I have ticked the relevant boxes above, to compile a delegate list (including my name and that of my employer) to be distributed at the event in hard copy or to other registered delegates in electronic form as well as for the purposes of advertising future courses and events and promoting ICMA.

Delegate Fees
 
ICMA Members: £350 + VAT
Non-members: £600 + VAT

*Accomodation is not included in the price and delegates must arrange their own accomodation.



Please tick here to agree to the terms and conditions