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FINANCIAL MARKET COURSES

Project Finance - Deal Structuring

Project finance deals are complex transactions involving a large number of participants. Most project finance is raised through a group of bank lenders, known as a syndicate, who pool their resources to extend credit to the project SPV. This structure enables lenders to share the considerable risk of project finance, which is non-recourse in nature. Some finance deals may also involve a bond issue, which is typically placed and underwritten by a strong, reputable bank with a global outreach. Project sponsors will also contribute funds to a project finance deal in the form of equity or subordinated debt/mezzanine finance.

 

This course looks at how loans are raised for project finance deals, and outlines the costs and benefits of this approach for borrowers. Other sources of project finance are also described.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Outline the key stages in a project finance deal

    Describe the different forms of project debt

  • COURSE OUTLINE

    Topic 1: Stages in a Project Finance Deal

    Advising

    o Preparation of the Project Plan/Financial Model

    o Determining the Optimal Capital Structure

    o The Optimal Capital Structure for Sponsors

    o Cover Ratios

    o Sensitivity Analysis

    o Information Memorandum

    Arranging Services

    Syndication

    o Project Loan Negotiation and Structuring

    o Covenants

    o Events of Default

    o Representations and Warranties

    o Conditions Precedent

    Financial Close/ Drawdown

    Loan Administration and Monitoring

    Topic 2: Types of Debt

    Equity/Mezzanine Finance

    Project Loan Facilities

    Project Bonds – Issuing

    Leasing

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    90 Minutes

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