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Advanced Project Finance Modelling

Duration: 2 days

Master the advanced modelling techniques required to drive the analysis of complex projects and transactions across a broad range of industries. Successful execution of project finance transactions requires comprehensive modelling and debt analysis.

Advanced Project Finance Modelling enables you to extend your debt modelling capabilities in order to drive the transaction process. Bankers, sponsors and investors all benefit from the powerful techniques for debt sizing, covenant monitoring and development of financial statements. With a continuous focus on robustness and flexibility, and analytical techniques such as multi-asset modelling, this course is guaranteed to boost your project finance career and give you all the tools to reach financial close. You will learn the modelling principles and structured approach that are applicable across a range of industries including Mining, Oil & Gas, Power, Renewable Energy, Real Estate and Infrastructure.

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This course will enable you to
  • Extend your project finance modelling skills to allow you to take a transaction from screening to financial close
  • Develop required techniques for debt sizing, covenant monitoring and advanced debt structures including lock-up mechanisms and debt sculpting
  • Gain a complete understanding of the modelling of Debt Service Reserve Accounts (DSRA)
  • Extend your toolkit to include alternative debt repayment methods for increased flexibility
  • Achieve consistent and accurate outputs with a proven best practice modelling approach – SMART
Who should attend this course?

This course is suitable for anyone who needs to extend their modelling skills and understand the advanced aspects of project finance models. Typical attendees include Analysts, Managers, Senior Managers and Associate Directors. An existing thorough understanding of best practice modelling and project finance analysis is assumed.

Pre-requisites: Some financial modelling experience required. Recommended addition to the following courses: Best Practice Project Finance Modelling

Course outline

Day one

Learn powerful techniques for alternative repayment methods for debt structuring

  • Understand how to effectively model debt sculpting
  • Build in switches to allow different structures to be rapidly analysed
  • Develop a Debt Service Reserve Account (‘DSRA’) from first principles

Understand critical concepts and techniques in debt sizing to support debt structuring discussions

  • Single factor optimisation to vary debt size to achieve target cover ratios
  • Dual factor optimisation to achieve target cover ratios and returns
  • Solve using both data tables and Visual Basic

Extend your debt modelling capabilities with Cash Sweep and Lock-Up Account functionality

  • Learn and discuss how cash sweeps work
  • Understand what components to model and how to test the mechanics
  • Use binary flags to set up conditions for lock-up and release

Share insights into effective modelling of refinancing analysis for rapid and robust analysis

  • Discuss the mechanics of a refinancing – amount, timing, fees and repayment
  • Learn different ways to treat the refinance fee
  • Discuss the concept of sequential refinancing
Day two

Learn a structured approach to comprehensive depreciation calculations

  • Remove the need for cumbersome tables
  • Incorporate switches for multiple depreciation methods
  • Easily replicate calculations for accounting and tax depreciation

Understand how financial statements are constructed and how to identify common problems

  • Master the structure of completed three way financial statements
  • Learn how to continuously test and debug the integrated statements
  • Incorporate all of the debt components into integrated statements

Use advanced Excel techniques for rapid and accurate multi-dimensional sensitivities

  • Produce geared and ungeared tax calculations to analyse the value of interest tax shelter
  • Explore surfaces of dual variables as they impact upon a key metric
  • Use VBA to control data tables so they do not adversely affect calculation speed

Increase your capabilities in efficient multi-asset / portfolio modelling techniques

  • Understand the differences between modelling single and multiple assets
  • Learn how to set up multi-asset calculations
  • Make changes across multiple sheets – know the easy mistakes and how to avoid
Register

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Australasian course bookings: +61 2 9229 7400
EMEA / South American / US & Canada course bookings: +44 20 7947 4019


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