Project Finance Overview - From Inception To Financial Close

How infrastructure projects are financed around the world

What you'll learn
Learn what Project Finance Is
Discover how large infrastructure projects are financed
Learn about how project finance risks are mitigated
Understand how banks become comfortable lending money to infrastructure deals
Understand the different parties involved in infrastructure deals from financing to construction and operation
Requirements
Basic understanding of finance
Description
Infrastructure Finance, also called Project Finance, is not just another form of investment banking. It finances our roads and our bridges, our hospitals and our power stations. It breathes life into our economy.  In this course, you will learn how infrastructure deals are financed and what makes them so complicated.  The course covers project finance structures, risk mitigation and provides insights from subject matter experts.  It also includes insights from the top-rated Financial Modelling Podcast, as well as supporting material such as example contracts and loan agreements.Matthew Bernath, the trainer, has been intricately involved in the financing of large infrastructure deals, including renewable energy plants, toll roads, property and other infrastructure.  He was previously a specialist Project Finance Modeller and hosts the Financial Modelling Podcast.  Matthew has worked on or advised Infrastructure Deals throughout Africa.Project Finance focuses on the financing of long-term infrastructure.  Given the size of these projects, the structuring of these deals is complex and often governs how projects are constructed and operated over time periods of up to 20 or 30 years.  As infrastructure generally benefits the wider public, Project Finance can involve both Public (Government) and Private Parties.  When the government and the private sector come together to enable infrastructure to be constructed and operated, it is referred to as Public-Private Partnerships or PPPs.   The course covers a high-level overview of project finance modelling and does not contain any project finance modelling exercises; however, overviews of Project Finance models are provided via videos.

Overview

Section 1: Introduction

Lecture 1 Introduction to the course

Lecture 2 Who am I and who are you?

Lecture 3 What is Project Finance Podcast

Section 2: What is Project Finance?

Lecture 4 What is Project and Infrastructure Finance?

Lecture 5 Modelling Infrastructure with an Infrastructure Financier

Lecture 6 Evolution of a Project Finance Deal

Lecture 7 Components of a Project Finance Deal

Lecture 8 A Typical Project Structure

Lecture 9 Interview with a construction (front-end) and Infrastructure lawyer on contracts

Lecture 10 Example PPP Contract - Accomodation

Lecture 11 Example PPP Contract - Waste Water Treatment

Lecture 12 Understanding Power Purchase Agreements

Lecture 13 Example Power Purchase Agreements: Wind Farm and a Solar Farm

Section 3: The Nature of the Asset

Lecture 14 The Nature of the Asset

Lecture 15 Interview with an Infrastructure Technical Advisor

Lecture 16 Interview with Stefanie Bourne on technical due diligence on infrastructure deal

Section 4: The Project Finance Model

Lecture 17 The Cash Flow Waterfall Part 1

Lecture 18 Cash Flow Waterfall vs. Cash Flow Statement

Lecture 19 Complexities of the DSRA

Lecture 20 Overview of A Project Finance Model - Part 1

Lecture 21 Overview of A Project Finance Model - Part 2

Lecture 22 Modelling Infrastructure

Lecture 23 Unlocking the Dark Art of Financial Modelling

Lecture 24 What is Debt Sculpting?

Lecture 25 What is the Model Audit?

Lecture 26 Understanding Legal Agreements as a Financial Modeller

Lecture 27 Example of Scenario Analysis with Thomas Paul

Lecture 28 Standardising Infrastructure Finance Modelling with Rickard Wärnelid

Lecture 29 Infrastructure Financing Instruments and Incentives

Lecture 30 Project Finance Loan Agreement Example

Lecture 31 Example Loan Agreement

Section 5: Project Finance Risks and Risk Mitigation

Lecture 32 Overview of Project Finance Risks

Lecture 33 Risks - Key Terminology

Lecture 34 Hedging

Lecture 35 Financial Modelling Podcast - What is Hedging?

Lecture 36 Interview with a construction (front-end) and Infrastructure lawyer

Lecture 37 Interview- Derisking a Project with a Techincal Advisor

Lecture 38 Export Credit Agency Finance

Lecture 39 World Bank: Risk Allocation Bankability and Mitigation in Project Financed Trans

Section 6: Financial Close

Lecture 40 Financial Close

Lecture 41 Getting to financial close on PPPs - by World Bank

Lecture 42 Financial Close: Challenges and Solutions by EY

Lecture 43 Managing PPP Contracts After Financial Close

Section 7: Recommended Reading

Lecture 44 Books on Infrastructure Finance and Financial Modelling

Lecture 45 BONUS - Course Slides for Download

Bankers,Infrastructure financiers,Project sponsors,Government,Infrastructure developers,Project financiers,Project finance bankers,Infrastructure finance bankers,EPC companies,O&M companies,Entrepeneurs interested in infrastructure,Development finance institutions,Entrepreneurs