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Our courses are intended for a global audience, with each one being completely customisable to suit the needs of the individuals it is being delivered to.

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Project Finance

  • Banking and Financial Markets, Corporate Finance, Retail Banking, Risk and Credit
  • Duration: Two days
  • Information

    Using a mixture of formal presentations, exercises and a core case study this 2 day programme will provide participants with an intensive overview of the use of Project Finance and key elements in structuring a Project Finance transaction.

    Previous background in Project Finance is not required. However participants should already have a sound understanding of credit / financial analysis and be familiar with the core features of Excel. An understanding of investment appraisal techniques and the principles of company valuation will also assist participants in maximising the benefits from this training programme.


    Day One

    Session 1

    An overview of key issues in Project Finance

    • Project Finance vs. the financing of projects

    • The Project Finance “route map” - an overview of the key issues in evaluating and structuring a Project Finance transaction

    • Motivations for using Project Finance – parties involved and their objectives

    • An overview of a Project Finance transaction to illustrate key aspects of the transaction

    Session 2

    Risk evaluation in Project Finance

    • Key risks – construction, operating and financial

    • Typical approaches to risk allocation

    • Due diligence process – assessing viability of the proposed project development plan, market and cost assumptions

    Session 3

    The project financial statements and review of key assumptions

    • Key elements in the structure of Project Finance spread sheets

    • Review and sensitivity of a generic Project Finance spread sheet to identify potential key influences on project viability

    • Lessons from the past – what can be learned from past transactions about the value of forecasts and feasibility studies

    Day Two

    Session 4

    Sources of debt financing in projects and debt capacity

    • Rationale for Project Finance vs. other debt financing techniques

    • Export Credit Agencies and Development Banks; bank debt vs. bonds; senior vs. subordinated debt

    • Interest and foreign exchange management issues in Project Finance

    • Using projected cash flows as a basis for assessing debt servicing capacity

    • Impact of the credit crisis on terms of debt finance

    Session 5

    How equity investors assess projects - financial yardsticks used by investors

    • An overview of the main project investment appraisal techniques

    • A brief review of the principles for calculating corporate cost of capital and use as a basis for evaluating project returns

    • Understanding equity investors’ approach to achieving returns from the project company, including operating relationships with the project company, and cash extraction through re – financing

    Session 6

    Documentation and structuring issues in Project Finance

    • Structure of loan documentation and key financial covenants

    • Intensive overview of the key aspects of Project Finance documentation and key commercial considerations in documents such as construction contracts, off take agreements, supply agreements, third party guarantees and completion and cost overrun guarantees study - Structuring third party credit support and security: Participants produce an outline proposal for the capital structure

    Course Close

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    As every course we run is tailored to meet the specific needs of each client, we can only provide an estimate after fully understanding your specific requirements. Please complete the form below of call +44 (0) 208 894 4977 to discuss how Taylor Associates can help you.

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