Project Finance

Course overview The project finance market has grown substantially over the past two years and the concept is being practised in a large number of emerging markets. Projects carried out in one location are being adapted for use in other countries. In addition, Islamic financing is playing an important part where projects in the Middle East and Asia are concerned, as are the Equator principles on a more global basis. This Euromoney Legal Training course explains how project finance works in detailed and practical terms. This programme aims to expose delegates to the rapidly changing face of project finance across the world and thus ensure a full awareness of the different methods being adopted in various countries and sectors. With interactive workshops being an integral part of this course, delegates will examine real life examples of project finance, receive up-todate information on current projects, and benefit from the new ideas being implemented globally. Why you should attend This course will cover: Project structure including key documents Funding structure including key financing documents Risk identification and allocation New financial concepts and instruments World trends in project finance Operational issues Toll road agreements Term sheets Case studies Real life case studies will be used during workshops to illustrate the key concepts in practical terms. Case studies will include: power generation, toll roads, hospitals & government accommodation. Who should attend? In-house lawyers for lenders and equity investors Bankers working in project finance Project sponsors and advisors Lawyers in private practice Contractors FM operators Public sector officials procuring deals Course documents Extensive documentation will be provided including: Introduction to project finance – concept, tructure, understanding risks, financing issues and general background Power project and power purchase agreements Toll road agreements Term sheets Forms of Islamic financing Equator principles Supported by:
Day 1 Introduction to PPP · History · Concept structure · Acronyms explained (ie. PPP/BOT) Understanding PPP · Public policy issues why the process? · Issues for governments · Developing a legal framework · The benefits of PPP Risk identification · The players and their risks · Types of risk · Internal risks · External risks Risk evaluation and allocation · Understanding and evaluating project risks · How best can these risks be mitigated or avoided? · How best to allocate and transfer risks Workshop 1: Preparation of Risk Matrix for projects in different sectors (ie. trains, prisons, roads, hospitals etc.) Day 2 Project documents · Special Purpose Vehicle (SPV) · Project agreement · Construction agreement · Operations agreement · Finance agreement Workshop 2: A review of the practical steps to finance and construct a power station in the private sector. The case study will look at it from sponsor, banking and government viewpoints and will review set up; risk analysis, documentation required, integration to grid and regulation. Day 3 Financing sources · Characteristics · Funding spectrum · Equity, bonds, debt, credit ratings Financing issues · Structure examples · Cost of capital · Infrastructure funds · Debt service cover ratios · Value for money · Pricing and payment mechanisms Public procurement process · The project business case · Public sector comparator · Procurement stages · Evaluation options · Best & Final Offers (BAFO) Workshop 3: A review of selected case studies of completed projects in the Middle East and across the world to illustrate best practice in project finance; healthcare, education, power (and renewables), and transportation (roads, rail, airports). Events post contract · Monitoring construction · Performance benchmarking, market testing and penalties · Force majeure events · Disputes with the SPV · Contract termination Workshop 4: Wind Farms Workshop 5: Islamic Financing