This training course is now fully booked. To join the waiting list please email training@ipfa.org
IPFA Training: Sydney: Understanding Project Finance & PPPs
Introduction to Project Finance for Australian PPP’s covers everything from procurement, risk management (from government and private sector perspective) through to cashflows and finance structure. Through discussion of project contractual structures, and risk management techniques used in Project Finance and PPP projects, participants will gain a comprehensive understanding of PPP procurement process and current trends, how risks are managed and allocated in a PPP project, the commercial structuring of PPPs, the role of the SPV and counterparties, and basic financial modeling principles and debt term sheets.
The course will be facilitated by Ian Greer and Martin Locke leading practitioners in the project finance market and will include detailed course materials, interactive discussions, working groups and case studies. Each delegate will also receive a Certificate on satisfactory completion of the course, plus 18 CPD points. Full details of our course instructors can be found via our website.
The course is beneficial a range of participants;
- Those new to the industry wanting an understanding of the overall process,
- Practitioners who have been involved in a specialist role and want to understand the broader aspects of the PPP process, and
- Experienced practitioners who are new to PPPs or seeking a refresh.
Organisations that have sent staff on the course have included:
- Government agencies including PPP units from Victoria, New South Wales, ACT, Western Australia, New Zealand, and Department of Infrastructure and Regional Development;
- Legal firms – Gilbert & Tobin, Norton Rose, Ashurst, Baker McKenzie, Allens
- Investors, lenders, financial advisers and insurers – PWC, EY, Pacific Partnerships, Plenary, MUFG, Capella, Amber Infrastructure, SMBC, Investec, AMP Capital, Marsh, ANZ
- Technical advisers, operators, equipment suppliers and construction firms such as Cushman Wakefield, Metro Trains, SNC Lavalin and Mitsibushi.
The course will be held over three days – the full programme and course fees are set out below. To register your place, please complete the online booking form.
TESTIMONIALS
‘An excellent course well presented by Ian and Martin’ John Bergatino, SNC Lavalin
‘Both Martin and Ian are very knowledgeable and took great pains to ensure everyone was comfortable with the information. The collegiate atmosphere made everyone comfortable to take part and 'have a go' without feeling intimidated. I thoroughly recommend this course to all aspiring private finance and PPP professionals from whichever aspect they come from.’ Sean Kelly, Spotless
‘Unique course, which attracted professionals from all PPP typical parties, and actively engaged participants who had variant level of project finance understanding.’ Najeeb Abdelhadi, PwC
DAY ONE
09.00 - 09.30 INTRODUCTION TO COURSE
09.30 - 10.45 INTRODUCTION TO AUSTRALIAN PPP PROJECT FINANCE
- Provide an overview of a typical Australian PPP Project Finance Structure
- Qualitative Risk Analysis and the importance of Counterparty
- Typical financial structure and quantitative risk analysis
- The Sponsor, limited recourse and bankability
- Due Diligence
- Risk Management Tools
10.45 - 11.00 COFFEE BREAK
11.00 - 12.15 UNDERSTANDING PPPs
- Infrastructure Funding/Financing
- Why PPPs
- Financing the SPV
- Distinction between Economic and Social Infrastructure
- Developing a Business Case
- Economic/Financial Appraisal
12.15 - 13.15 LUNCH
13.15 - 14.45 RISK
- Risk Management
- Risk Structuring Workshop – Hospital Precinct
14.45 - 15.00 COFFEE BREAK
15.00 - 16.00 CONSTRUCTION
- The builder and counterparty risk
- Construction risk transfer and management
- Selected case studies examining risk transfer and counterparty failure
16:00 - 17.00 PUBLIC PROCUREMENT PROCESS
- Public Sector Comparator
- Procurement strategy
- Market Soundings
- Evaluation methodology
- Contract Management
- Procurement Workshop
DAY TWO
09.00 - 10.30 PROJECT DOCUMENTS
- Payment Mechanism
- Risk Protection
- Key Commercial Clauses
- D&C/O&M
10.30 - 11.00 COFFEE BREAK
11.00 - 12.00 FINANCE STRUCTURE
- Capital structure – debt, subordinated debt, equity
- Refinance risk management
- Cashflow controls – waterfall, reserves, liquidity management
12.00 - 12.30 TRAFFIC ANALYSIS CASE STUDY
Using traffic study and its actual outcome the session will provide an introduction to the analysis of traffic risk with a view to managing this risk through finance.
12.30 - 13.30 LUNCH
13.30 - 15.30 COMMERCIAL STRUCTURING WORKSHOP
In this workshop delegates will be split into teams to review specific commercial problems and explore potential solutions.
15.30 - 16.00 COFFEE BREAK
16.00 - 17.00 HOST SESSION
An aspect of Australian Project Finance market
17.00 - 18.00 COCKTAIL RECEPTION
DAY THREE
9.00 - 10.30 CASHFLOW ANALYSIS & FINANCE MODELS
- Interpreting Financial Models
- Debt Sizing
- Interpreting financial ratios
- Sensitivity & Scenario Analysis
10.30 - 11.00 COFFEE BREAK
11.00 - 12.30 FINANCE DOCUMENTATION
Using a Term Sheet groups will work through the quantitative risk examination and how the various components work together to manage risk.
- Structure and key terms in finance documents
- Creating the SPV
- Documenting cashflow management
12.30 - 13.30 LUNCH
13.30 - 15.00 STRUCTURING TO MANAGE RISK
Using the Traffic forecast from the previous day discuss ways to apply the course to manage the project risk.
15.00 - 15.30 COFFEE BREAK
15.30 - 16.30 EVOLUTION OF AUSTRALIAN PPP
- Hybrid financing models
- State capital contributions
- State SPV (build, operate, sell)
- Subordinated Debt
- Capital Recycling
- Value Capture
- Operator-led PPPs
16.30 - 17:00 – WRAP-UP
MULTIPLE BOOKINGS
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
(please note these discounts will be reflected on the invoice)
