Project Finance Fundamentals

Analyse risks and optimise a project's conduct

Duration : 2 days

8 participants at most

Course objectives

  • Identify the main financing techniques to finance a project and structure deals in a specific legal and fiscal environment

  • Appreciate the main risks involved in structuring project finance

  • Assess a project's debt capacity and get the fundamentals of Project Finance modeling

  • Identify the main sources of finance and the key market players

  • Understand the latest issues and trends in the Project Finance industry, such as PPP's

Course content

Introduction: Project Finance: what it is and what is is not. Comparing with asset finance and corporate finance

Case Study: the Halliburton - Sonangol crude oil financing (USA / Angola). Learn how to circumvent political risk and mitigate commercial risks through optimal deal structuring

Main market players in the Project Finance business

  • Industrial sponsors
  • Commercial contractors
  • Offtaker
  • Host countries, ECA's, Multilaterals
  • Banks
  • Rating agencies

Main financing structures

  • From B.O.T. to Design
  • Build & Operate (D.B.O.)
  • Impact of these structures on the overall risk - sharing picture

Case Study: An example of infrastructure finance with multilateral co-financing

Lending process and risk analysis. Risk appraisal from a banker's perspective.

Main aspects of a project financial model and assessment of a project debt capacity

Main Export Credit Agencies (ECA's) and multilateral banks (MLA's) involved in Project Finance

Recent developments in the Project Finance industry

  • Public Private Partnerships and PFI
  • Mega projects in Asia (among others)
  • Project bond financing

Case Study: a PPP project analysed with the risk analysis' matrix of a rating agency (Standard & Poor's or Moody's) to rate a project.

Sylvaine Chubert

Sylvaine Chubert

Sylvaine has made much of her professional career in major banking groups (ING, Rabobank, BNP Paribas) where she performed commercial and risk management operations of Corporate, Trade Finance and Real Estate Project Finance. Sincemore than 10 years, she is also a visiting professor at the University of Paris Dauphine where she teaches in the Structured Finance Banking to the Finance Insurance Masters. Today she intervenes as a trainer and consultant to banks and large exporters.

Sylvaine Chubert also teaches :

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