The International Project Finance Association (IPFA) is delighted to announce the second course of our Australian training programme, Understanding Project Finance & PPPs. The programme will take place in Melbourne between 10 - 12 August and will kindly be hosted by corporate members Norton Rose Fulbright.
Through discussion of relevant organisation structures, effective regulation, enabling legislation and risk management techniques used in Project Finance and PPP projects, participants will gain a comprehensive understanding of Project Finance as it applies to PPP’s in Australia & NZ, negotiating techniques and ways to successfully implement Project Finance deals. The course will be facilitated by leading practitioners in the project finance market and will include detailed course materials, with interactive discussions, working groups and case studies. Each delegate will receive a Certificate on satisfactory completion of the course, plus 18 CDP points.
For full details on our course instructors, please click here
The full programme can be found here.
The course will be held over three days – the full programme and course fees are set out below. Delegates receive 20% discount on course fees if they register by Friday 10th of July.
DAY ONE
​08.30 - 09.00 REGISTRATION
09.00 - 09.30 INTRODUCTION TO COURSE
09.30 - 10.45 INTRODUCTION TO PROJECT FINANCE
- Why is Project Finance used?
- Construction and Operations Phases
- Limited Recourse
- Contract Risk transfer
- Force Majeure
- Counterparties
- Special Purpose Vehicles – limits on debt, activities
- Typical Finance Structure
- Cashflow Controls – Waterfall, Reserve accounts, Distribution tests
- Debt Service Cover Ratio
- Independent Expert
10.45 - 11.00 COFFEE BREAK
11.00 - 11.45 UNDERSTANDING PPP
- Infrastructure Delivery in Australia
- PPP Contractual Structure
- Financing the SPV
- Distinction between Economic and Social Infrastructure
- Developing a Business Case
- Procurement Strategy
11.45 – 13.00 RISK
- Risk Management
- Risk Identification
- Risk Quantification
- Risk Mitigation
- Risk Allocation
13.00 - 14.00 LUNCH
14.00 - 15.00 RISK CASE STUDY
Preparation of Risk Matrix for projects in different sectors (i.e. trains, prisons, roads, hospitals, renewable energy projects etc).
15.00 – 15.30 COFFEE BREAK
15.30 - 16.00 PRESENTATIONS
16.00 – 17.00 EVOLUTION OF AUSTRALIAN PPP
- Hybrid financing models
- State capital contributions
- State SPV (build, operate, sell)
- Subordinated Debt
- Capital Recycling
- Value Capture
DAY TWO
09.00 - 10.45 PROJECT DOCUMENTS
- Project / Concession Agreement
- Design & Construction Agreement
- Operations & Maintenance Agreement
10.45 - 11.15 COFFEE BREAK
11.15 – 13.00 PUBLIC PROCUREMENT PROCESS
- Public Sector Comparator
- Procurement stages
- Evaluation methodology
- Events Post Contract
- Monitoring construction
- Performance – Benchmarking, market testing & Penalties
- Force Majeure events
- Disputes with the SPV
- Contract termination
13.00 – 14.00 LUNCH
14.00 – 15.15 TRAFFIC ANALYSIS CASE STUDY
- In this workshop delegates will split into teams and review the practical steps to analyse the traffic risk and discuss ways to manage this risk to finance a PPP in the transport sector; the case study will look at it from sponsor, banking and government viewpoints.
15.15 – 15.45 COFFEE BREAK
15.45 – 17.00 CONSTRUCTION
- Types of Construction
- Delays
- Cost Overruns
- Technology
- Design Risk
- Cashflow Management
DAY THREE
09.00 – 11.00 FINANCING
In depth analysis of concepts introduced in Day 1 and examination of how the various components work together to manage risk.
- Sources of finance – equity and debt
- Debt Structures and Refinance risk
- Key financial ratios
- Due diligence
- Term Sheet
- Special Purpose Entities
- Reserve Accounts
- Distribution Tests and cash waterfalls
11.00 – 11.20 COFFEE BREAK
11.20 – 13.00 FINANCING DOCUMENTS
- Loan Agreement
- Inter creditor Agreement
- Direct Agreements
- Security documents
- Force Majeure
- Step-in and Step-out
13.00 – 14.00 LUNCH
14.00 – 15.00 WORKSHOP THREE
In this session delegates will review selected case studies of completed projects in a range of sectors to illustrate best practice in project finance; healthcare, education, and transportation (roads, rail,).
15.00 – 15.30 COFFEE BREAK
15.30 – 16.00 CASE STUDY DISCUSSION
16.00 - 17.00 APPLYING PROJECT FINANCE TO OTHER SECTORS
- Energy
- Oil & Gas
17:00 - END OF COURSE
FEES
IPFA Member/ Public Sector rate: A$2,500
Non IPFA Member: A$3,000
GST is not applicable and will not be charged.
Early bird rate – 20% discount to expire on Friday 10th July.
Fees include all documentation, lunch and refreshments but does not include accommodation.
Discounts are available for multiple bookings and are processed as follows:
- For two delegates a 10% discount will be applied to the total fee
- For three delegates a 15% discount will be applied to the total fee
- For four or more delegates a 20% discount will be applied to the total fee
REGISTRATION
Please complete the online booking form below to register for the course. Once your registration has been received, an invoice will be raised and sent to you in Australian Dollars. Confirmation of your attendance along with joining instructions will be sent upon receipt of payment.
For registration enquiries, please contact events@ipfa.org.