PPP Project Finance & Infrastructure

2 days 12-13 Oct 2017, Hong Kong Hong Kong $3,350.00 Download brochure Add to basket

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Overview

Attend this 2-day course and you will learn:

  • What are the investment options for Government?
    • Fund developments using the Government budget
    • Use private (equity & debt) capital, e.g. PPP
    • Privatise existing state public service utilities
  • What are the benefits (& dis-benefits) of using these options as a procurement mechanism?
  • How successful has privatisation been in delivering investments?
  • What are the funding options for power, infrastructure and PPP projects? How much debt? How much equity? Why?
  • Who are the key investors in such projects? Why?
  • What do investors seek, & what are their expectations and limits?
  • What do bank lenders require, & what constraints do they impose?
  • How best to attract capital markets (e.g. pension funds, life insurance companies and sovereign wealth funds) to such investments.
  • Which funding options best match specific project opportunities, & why?
  • What is the best recipe for success? Why have some projects failed? What have been the problems? Could they have been spotted earlier?
  • What has been the international experience across sectors?
  • How can failure be avoided? What steps should be taken in project preparation? How can political risk be mitigated?
  • What clauses are key in the underlying project documents to ensure success?
  • What role should Government take? Should they be a shareholder? What remedies are there when projects fail, or are faced with changing circumstances?


Supported by
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Who should attend

All professionals involved in infrastructure finance from across government and government agencies, project sponsors, contractors, financial institutions including multilaterals and export credit agencies, as well as consulting and advisory firms.

  • Head of Project Finance
  • Head of Corporate Finance
  • Head of Structured Finance
  • Treasurer
  • Project Manager
  • Accountant
  • Analyst
  • Sales Manager

Instructors

We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

Hong Kong
Richard Michael

The instructor is a banker with over 30 years’ experience in corporate banking, investment banking, trade finance and particularly infrastructure project finance which has been his focus for over 20 years. Richard has been based in Asia/Pacific for most of his career, having worked for various banks in Hong Kong, Singapore, Indonesia and Taiwan.

He has worked for Barclays, WestLB, Standard Chartered, DEPFA Bank plc and Indonesia Infrastructure Finance in a variety of roles, with experience across the region in arranging funding for major infrastructure projects as well as acting as a financial adviser to private sector developers and governments.

Venue

Hong Kong

4-5 Star Hotel in Hong Kong

All of our courses are held in 4 – 5 star hotels, chosen for their location, facilities and level of service. You can be assured of a comfortable, convenient learning environment throughout the duration of the course.

Due to the variation in delegate numbers, we will send confirmation of the venue to you approximately 2 weeks before the start of the course. Course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.

Related Courses

Inhouse


 

Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company's exact requirements? If you'd like to do either of these, we can bring this course to your company's office. You could even save up to 50% on the cost of sending delegates to a public course.

To find out more about running this course in-house:





Our Tailored Learning Offering

If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. We'll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

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We can offer any of our public courses delivered at your office or we can devise completely tailored solutions:


Read more about our offering or complete a call back request to speak to a learning specialist.

 

Agenda

Day 1

Theme: The Fundamental Building Blocks of an Infrastructure Financing Transaction

Overview

  • Origins of Project Finance and the development of PPP/PFI
  • Key differences between project finance and corporate balance sheet financing
  • Key differences between public and private infrastructure funding
  • What are the key benefits of a limited recourse project finance structure?
  • Key Stakeholders in an infrastructure project finance transaction
  • Main terminology & acronyms used (PPP, IFI, IPP, etc.)
  • What is the state of the infrastructure project finance/ PPP market post-crisis?
  • What is the impact of Basel III on infrastructure project finance & PPP?


Funding Structures

  • Funding structures
  • Gearing
  • Viability Gap Funding
  • Availability vs Market Risk
  • Cross sector comparisons
  • Refinancing/Mini Perms
  • Syndications

Introduction to Infrastructure & PPPs

  • What is a PPP?
  • Value for Money
  • Balance sheet treatment
  • Advantages / disadvantages of PPPs in infrastructure
  • The tender process
  • Regional comparison of PPP programmes – lessons to be learned
  • Common problems arising in PPP projects


Risk Identification, Analysis & Mitigation

  • What are the key risks in infrastructure projects?
  • Identification of risk types
  • Social & Environmental risk
  • Assessment of the impact of risk
  • Creation of a risk matrix
  • Risk mitigation
  • Role of the capital market derivatives in risk mitigation
  • Role of insurance to mitigate risk: commercial, financial, political


Sources of Debt & Equity

  • Equity funds
  • Developers & investors
  • Private equity
  • Institutional Sources
  • Key issues for Investors
  • Commercial Bank Debt: availability, terms, conditions & key issues for lenders
  • Multilaterals
  • Export Credit Agencies
  • Grant Funding
  • Local market financing
  • Monoline Insurance
  • Project Bond market
  • Islamic funding


Project Appraisal

  • Cashflow models
  • Issues to look out for
  • DCF, NPV & IRRs
  • Criteria & Ratios used by lenders & investors to measure performance
  • Project documents: information memoranda, etc.
  • Role of financial advisor & other consultants
  • Due diligence
  • Cashflow & Term Sheet Exercises
  • Course participants will be invited to discuss a project cashflow and term sheet to identify key issues


Day 2

Theme 1: Typical Documentation

Project Documents

  • EPC / construction contracts
  • Operations & maintenance contracts
  • Supply contracts
  • Sales/Offtake contracts
  • Shareholders’ agreements
  • PPP concession agreements


Finance Documents

  • Loan agreements: typical covenants
  • Direct (or Tripartite) Agreements
  • Security Agreements


Theme 2: Case Studies

Case Studies from a variety of developed and emerging markets and sectors. Why have some projects succeeded, whereas others have failed? Lessons from each will be identified and noted

Port Project, Hong Kong
Toll Road Project, Philippines
Port Project, Vietnam
Toll Road Project, Indonesia
Toll Road Project, Australia
Various Projects, Korea

Participants will conduct a Credit Committee exercise in teams, whereby each team will present a case for a project currently in the market to be judged by the other teams.

 

 

Why us


We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product