17th Project Finance School
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This five-day Euromoney Legal school will be invaluable in increasing your knowledge and understanding of the key legal and contractual issues in international project finance and improve your ability to solve practical problems.
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Course Instructor
Gide Loyrette Nouel is one of the leading international law firms in the world with over 100 partners and over 400 associates.
John D. Crothers is a partner in the Paris office of Gide Loyrette Nouel. His practice concentrates on project finance, banking and privatisation in both the developing and developed world.
Berwin Leighton Paisner LLP is a premier, full-service law firm headquartered in the City of London.
Mark Richards, a partner in the Projects Team, has advised clients on a wider range of the innovative and complex infrastructure projects structured using Public-Private Finance techniques, including structures involving clinical and medical procurements, defence assets, roads and asset-financed based projects.
Norton Rose is a major international law firm with a worldwide network of offices providing a seamless global service to clients.
Course dates
Course overview:
The 17th Project Finance School covers all aspects of project finance law and contract documentation, including new and advanced techniques. Participants will gain a thorough knowledge of the key legal issues arising in topics such as risk analysis and allocation, new structures and sources of funding, basic project contracts and financing agreements.
This five-day school will be invaluable in increasing your knowledge and understanding of the key legal and contractual issues in international project finance and improve your ability to solve practical problems.
Who should attend?
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The course will provide invaluable information to:
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Project lenders, sponsors and contractors
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In-house lawyers in banks and financial institutions
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Bank officers responsible for evaluating or structuring projects
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In-house lawyers and financial officers of project sponsors and contractors
- External legal and financial advisers
A highly practical five-day training course with interactive workshops, where you will be:
- Analysing and allocating project risks
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Applying the concept of bankability to project contracts
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Identifying typical provisions in international construction contracts
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Examining operation and maintenance contracts
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Understanding the financing agreements
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Taking part in a two-day intensive workshop focusing on key project finance issues and successful negotiation techniques
Supported by:

Day 1
Analysing and allocating project risks
Faculty: Gide Loyrette Nouel Introduction
Understanding the sponsor/borrower/ host government perspective
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The players: the project parties amongst whom risks may be allocated
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The risks to be allocated
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Techniques of risk mitigation/avoidance
Understanding the bankers motives
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Bank objectives and general approach
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The concept of bankability
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Allocation of risks: when is the bank inclined to take project risk?
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Techniques of risk mitigation/avoidance
Examples of different project structures
Workshop 1: Analysis and allocation of risk through the preparation of a risk allocation matrix
Day 2
International construction operation and maintenance contracts
Faculty: Gide Loyrette Nouel
Introduction
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Definition and role of project documents
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Essential requirements and interests of lenders, sponsors and the contractors
Offtake agreements
Turnkey construction contracts
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Achieving certainty of out-turn cost
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Lump sum fixed price: the risks transferred or insured
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Payment mechanisms
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Lenders checks/controls on cost overruns
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Project companys obligation: back-to-back with other project agreements with the project contracts
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Completing on time
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Force majeure and grounds for extension of time
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Liquidated damages for delay in completion
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Termination for extended delay
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Quality/performance of the asset
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Rejection of inadequate performance
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Warranties and liability for defects
- Exclusions and limitations on liability
Operation and maintenance contracts
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The services provided by the operator
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Interface with the construction contract
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Incentivising the operator as to costs and performance
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The operators liability for inadequate performance of the asset
Workshop 2: Delegates will be divided into groups representing the different parties involved and will analyse and seek solutions to problems arising in the negotiation and performance of the above agreements.
Day 3
Financing the deal: understanding the financing agreements
Faculty: Berwin Leighton Paisner LLP
Introduction
The loan agreement
Credit enhancement devices
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Guarantees
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Letters of credit
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Insurance
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Hedging
Multi-source finance
The security package
Direct agreements
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Purpose and use
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Key terms and their role
Day 4 & 5
Intensive two-day workshop
Faculty: Norton Rose
Workshop 3:
The two-day workshop will be based on a hypothetical project to construct, operate and maintain a chemical plant in the UK. The project is to be a joint venture between a major international materials company, an expanding conglomerate involved in the construction of industrial plants, which through its subsidiaries will undertake the construction, operation and maintenance of the plant, and a US investment company.
The plant is to be built on part of a site containing an existing chemical plant. The purpose of the project is to phase out the old plant and introduce a new, clean and superefficient oil to derivatives conversion plant. The plant will operate by processing a raw feed stock crude oil and will require a steady supply of crude oil as well as a reliable electricity and water supply. Financing for the project is to be made up partly by loan facilities from a syndicate of banks.
Key issues for negotiation
Key issues arising from the project which the groups will be required to form a position on and negotiate include:
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Environmental issues
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Security of supply
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Cost overruns/delays
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Insurance issues
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Take or pay
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Dividend policy
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- This course instructor is a partner in the Paris office of Gide Loyrette Nouel. His practice concentrates on project finance, banking and privatisation in both the developing and developed world. He has advised international financial institutions, concession companies, operators, contractors and bidding consortia in infrastructure projects ranging from toll roads to IPPs, water treatment facilities and desalination facilities.
Prior to joining Gide Loyrette Nouel, the course instructor was counsel to the EBRD in London and thus has in-depth knowledge of how to work with IFIs. He is a member of the Bar in New York and Paris.
Courses run by this instructor
- Gide Loyrette Nouel is one of the leading international law firms in the world with 88 partners and over 400 associates. With more than 20 partners and 120 lawyers in its London and Paris offices, the Finance/Project Finance department is one of the largest and most highly regarded banking groups amongst the major international law firms. The firm strongly believes in building long term relationships with its clients by understanding their businesses and providing flexible, innovative and tailored solutions.
- Norton Rose is a major international law firm with a worldwide network of offices providing a seamless global service to clients. They act for global banks and other financial institutions, international businesses, major public and private companies, government departments and sovereign states. Their business covers the whole spectrum of financial and business activities. Areas of particular expertise include aviation, construction, energy and natural resources, rail and shipping.
- Jeffery Barratt is head of Norton Rose's global projects group and is senior banking partner. He has a broad range of experience of financing and capital market transactions acting on behalf of sponsors, lenders and mulitilateral institutions and has been involved in many complex infrastructure and other project financings in Europe, the Middle East and South East Asia.
- Berwin Leighton Paisner LLP is a premier, full-service law firm headquartered in the City of London. We offer pragmatic, commercial legal advice that helps major public and private companies, financial institutions, public sector bodies and private clients to achieve their goals. Our service extends to over 65 jurisdictions, with offices in Abu Dhabi, Brussels, Moscow (Goltsblat BLP), Paris and Singapore.
- Mark Richards, a partner in the Projects Team, has advised clients on a wider range of the innovative and complex infrastructure projects structured using Public-Private Finance techniques, including structures involving clinical and medical procurements, defence asets, roads and asset-financed based projects. He has advised on concession contracts, loan transactions, equity structures, joint ventures, leasing transactions, subcontracts and project finance transactions. He is also qualified at the New York State Bar.Impressive knowledge of a number of sectors" (Chambers UK 2008
Hotel in Central London, London, United Kingdom
Venue and Accommodation Information
All Euromoney Legal Training events are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds you expectations.
We have selected several venues across Central London, that we are confident meet our strict criteria for quality, service and professionalism. Each venue also offers accommodation for Euromoney Delegates at discounted professional rates.
Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date. Euromoney Legal Training can however recommend the following venues:
The Rembrandt, Knightsbridge
The Rembrandt is a spectacular hotel with the timeless ornate architecture and traditional qualities of an Edwardian building. Located in the exclusive area of Knightsbridge, the hotel was originally built as apartments for Harrods, as such all rooms have an individual shape, giving them each their own special feel. Each of the training rooms have natural daylight and a private lobby area.
For more information visit http://www.sarova.com/rembrandt or call +44 (0)20 7589 8100
Millennium Knightsbridge
The four-star deluxe Millennium Hotel London Knightsbridge is situated in the heart of one of the best shopping areas of London. Of all the hotels in Knightsbridge, this Millennium Hotel is amongst one of the most contemporary and stylish Knightsbridge hotels in the area. This Knightsbridge hotel has excellent transport links - only a short walk from Knightsbridge underground station on the Piccadilly line and just 40 minutes from London Heathrow Airport via the underground.
For more information visit www.millenniumhotels.co.uk/millenniumknightsbridge or call +44 (0)20 7235 4377
Crowne Plaza, Kensington
The stylish Crowne Plaza London-Kensington hotel is a short walk from Victorian shopping, royal parks and London's epic museums. All the training rooms are fed with natural daylight with lunch or coffee breaks taking place on their attractive garden terrace.
For more information visit http://www.ichotelsgroup.com/crowneplaza/hotels/us/en/london/lonke/hoteldetail or call +44 (0)20 7373 2222
London Marriott Hotel, Kensington
Located close to Central London in the heart of Kensington, the London Marriott Kensington is perfectly situated for the best shopping and tourist attractions.
For more information visit http://www.marriott.co.uk/hotels/travel/lonlm-london-marriott-hotel-kensington
The Regency Hotel, Kensington
The hotel is conveniently located for all major transport links, such as Londons Heathrow, Gatwick and Stanstead airports, all major London train stations, and is a short walk from the nearest tube station (South Kensington, Piccadilly Line).
For more information visit www.londonregency.com or call +44 (0) 207 373 7878
Radisson Edwardian, Central London
The Radisson Edwardian offers a wide range of venues and accommodation across Central London, including such famous London areas as Covent Garden, Leicester Square and Mayfair. Each location offers 4-star accommodation and training facilities.
For more information visit www.radissonedwardian.com or call +44 (0)800 37 44 11
Euromoney Legal Training has also appointed approved and independent booking agencies to help you find the best location for you to stay during your time in London:
Venue Search UK
All the delegates have to do is telephone +44 (0)20 8541 5656 or email beds@venuesearch.co.uk and say that they are a Euromoney delegate!
Zibrant
Zibrant offer a huge range of hotels across London and can find you accommodation as close to your training venue as possible. They will ensure that you receive preferential rates as a Euromoney delegate. Go to www.zibrant.co.uk/euromoney for more details. Alternatively you can email your enquiry to euromoney@zibrant.co.uk or call +44 (0) 1332 285 521.
Euromoney Legal Training strongly recommends that you do not book your accommodation until you have received full course confirmation.
If you require any further information, please contact us:
Euromoney Legal Training
Nestor House
Playhouse Yard
London
EC4V 5EX
United Kingdom
Tel: +44 (0) 207 779 8601
Fax: +44 (0) 207 779 8599
legaltraining@euromoneytraining.com
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
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Course dates