Euromoney Legal Training

Course Overview

Project finance is being introduced in both developed and developing countries as an alternative way to
finance infrastructure and industrial projects, both small and large.

The concept is being used in:

• transportation (tolled roads, tolled estuarial crossings and railways)
• energy (private power stations, waste-to-energy plants and gasdistribution pipelines)
• sewage and water treatment plants
• healthcare (construction and operation of new hospital buildings and clinical waste disposal plants)
• education (provision of student accommodation and facilities for universities, colleges and schools)
• provision of government offices This three-day training course offers a comprehensive and up-to-date
  briefing on project finance with a focus on PFI/PPP projects.

Topics covered include:

• The key concepts of PPP
• Typical project structure 
• How to identify and evaluate project risk
• The typical contractual structure
• How to choose the correct funding option for a project
• Dealing with operational aspects including pricing, performance and termination
• How bids are assessed and evaluated
• Comparison with other initiatives
• The current world market for PPPs with country analysis

Methodology

The training course will use real life case studies throughout to illustrate the various concepts. These case
studies include toll road projects, hospitals, courts and prisons.

Who should attend?

• In-house lawyers in financial institutions
• Corporate lawyers
• Lawyers in private practice
• Lawyers employed in government
• Project finance executives
• Project consultants
• Government agencies
• Public sector managers
• Potential bidders
• Scheme promoters
• Contractors

Supporting publication

Day 1

Registration commences at 8:30
Programme runs from 9:00 - 5:00 daily

Introduction to PPP

• History
• Concept structure
• Acronyms explained (ie. PPP/BOT)

Understanding PPP

• Public policy issues – why the process?
• Issues for governments
• Developing a legal framework
• The benefits of PPP

Risk identification

• The players and their risks
• Types of risk
• Internal risks
• External risks

Risk evaluation and allocation 

• Understanding and evaluating project risks
• How best can these risks be mitigated or avoided
• How best to allocate and transfer risks

Workshop I

Preparation of Risk Matrix for projects in different sectors (ie. trains, prisons, roads, hospitals etc.)

Day 2

Project documents

• Special Purpose Vehicle (SPV)
• Project agreement
• Construction agreement
• Operations agreement
• Finance agreement

Workshop II

A review of the practical steps to finance and construct a power station in the private sector. The case study will look at it from sponsor, banking and government viewpoints and will review set up; risk analysis,
documentation required, integration to grid and regulation.

Day 3

Financing sources

• Characteristics
• Funding spectrum
• Equity, bonds, debt, credit ratings

Financing issues 

• Structure examples
• Cost of capital
• Infrastructure funds
• Debt service cover ratios
• Value for money
• Pricing and payment mechanisms

Workshop III

A review of selected case studies of completed projects in Asia and across the world to illustrate best practice in project finance; healthcare, education, power (and renewables), and transportation (roads, rail, airports).

Public procurement process

• The project business case
• Public sector comparator
• Procurement stages
• Evaluation options
• Best & Final Offers (BAFO)

Events post contract 

• Monitoring construction
• Performance – benchmarking, market testing and penalties
• Force majeure events
• Disputes with the SPV
• Contract termination

• Geoff Haley

  Geoff Haley is a highly regarded practicing lawyer within the project finance industry. He lectures extensively on BOOT and privatisation issues both in the UK and overseas, has had many articles published and contributed to several books on project finance.
  
  Geoff is a lawyer specialising in project finance, Public Private Partnerships and construction both in the UK and overseas. He has specialist expertise in large and complex projects in the fields of energy, waste management, water treatment, transportation, healthcare and education. Projects include Channel Tunnel; Channel Tunnel Rail Link; UK DBFO Roads; Jordanian BOOT Projects; Tbilisi City Water; Belfast Courts; Government Accommodation Projects.
  
  He is the founder and Chairman of IPFA (International Project Finance Association), a honorary Professor of Project Finance and visiting lecturer to the University of Dundee. He is the author of numerous publications including “A-Z of Boot”.

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.