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Develop a comprehensive understanding of the fundamentals of project finance
Your Family Office Workshop
This 3-day workshop is designed for professionals who are required to develop a comprehensive understanding of the fundamentals of project finance related to areas like financial sponsors, corporate finance and commercial banking.
We offer a highly practical workshop for Project Finance in London on 20-22 October 2017. Our instructors and presenters have hands-on professional experience in the field of Project Finance, while we offer learning and networking opportunities through relationship building within the vetted family office investment community. All family office workshops take place in London's most prestigious hotel establishments.
Central London Location
The objectives of this workshop is to provide the participants with the analytical tools and theoretical framework of evaluating the different stages of financing a project. Specifically, by attending the Fundamentals of Project Finance course, the participants will achieve:
- Structuring Large Projects and Accessing the Most Competitive Funding in the Oil and Gas, Energy, Transport and other Infrastructure Sectors
- Pro Forma Estimates and Cash flow Models
- Working with Official Providers of Funds and Credit Support (Export Credit Agencies, Development Banks and Others)
- To identify and analyse critical issues for the lenders and investors in relation to project finance
- To evaluate and assess the risks of project finance from a macroeconomic, sector and idiosyncratic risk perspective by conducting rigorous due diligence, qualitative and quantitative analysis
- To analyse the capital structure and determine the project’s capacity in generating cash flows and serving the debt
- To apply the tools within a practical case study example
The course materials are based on case studies and practical examples, which are designed to assist the participants to gain a working knowledge of the topics taught.
Project Finance Overview
- Debt financing generally
- Senior loans
- Senior bonds
- Junior debt – mezzanine finance, accreting swaps
- Multilateral agencies
- Role of monoclines
The Lender’s Perspective
- Critical issues for the lender
- Cash flow projections
- Repayment methods
- Cash trap styles
- Reserve styles
- Cash flow controls
- Lender protection
- The role of the credit rating agencies
- Lender tools
- Leverage and Coverage Ratios
- Key financial ratios (ADSCR, loan/ bond/project life cover, buffer test)
The Sponsor’s Perspective
- Funds vs commercial sponsors
- Overview of evaluating investment decisions
- Issues arising out of joint ventures
- Flow to equity vs flow to the SPV
- Investor Tools: IRR, NPV and Payback Period
Risk, Risk Mitigation and Due Diligence
- Overview of key risks
- Scoping the due diligence review
- Conducting effective due diligence
- Risk Overview of the major risks
- Risk mitigation techniques
- Why do some projects fail?
Key Project Finance Documentation
- Documentation (key commercial terms)
- Financing documents
- Loan facility agreements
- Bonds / notes
- Security documentation
- Inter-creditor agreements & subordination
Shareholder / joint venture agreements
Case Study and Presentations (Practical Example)
The aim of the case study is to apply all the aspects of project finance assessment as addressed during the course to a separate case study. The work will be prepared individually during the training and presentations will be prepared in small groups.
It will cover the following issues:
- Cash flow generation and forecasting
- Project’s capacity for debt serving
- Develop base case and scenario analysis of stressed sensitivities
- Estimation of flow to equity and flow to the SPV
- Estimation of IRR, NPV and Payback Period
- Project evaluation and assessment by using key metrics
- Risk identification and mitigation
The Family Office Institute is a leader in providing advanced workshops for family offices and their advisors. We conduct forums in collaboration with investment professionals, as well as, highly focused courses and forums for family offices, private investment offices, investment management boutiques, specialised wealth management firms and private banks. Our guest speakers are leading professionals in their respective field of expertise globally with decades of experience.
We apply a strict qualification process, to ensure that participation to our workshops remains exclusively to family offices and industry professionals. In this respect, we reserve the right to accept applications which only meet our criteria. Besides, we place a limit on the number of delegates per workshop. For most of our workshops, participants are required to fall into one of the following categories to attend:
- Single Family Offices
- Multi-Family Offices
- Private Investment Offices
- Sophisticated private investors
- Professional advisors
- Wealth managers
- Trust & estate practitioners
- Legal professionals
Our Workshops deliver:
- Confidential - relationship building within a community of family office professionals.
- Intimate gatherings - practical sessions, roundtables, cocktail receptions and more.
- Exclusivity - unencumbered and transparent, free of competitor encroachment.
- Exposure - network of family office and sophisticated private investors.
- Highest quality - content that is trusted for its substance, accuracy and timeliness.
Participation Fees: Our workshop fee is currently at £3,500 + VAT (pound sterling) per attendee.
A reduced fee may be provided if an institution intends to be represented by more than 3 delegates in a specific workshop. The workshop may also be run in-house, exclusively to the requirements of a family office or a specific industry institution. For further options please contact us directly to discuss your exact specifications in confidence.
Refund policy: The Family Office Institute operates a no refund policy with respect to workshop cancellations. However, subscriptions may be transferred to alternative workshops, or alternative client institutions upon request.