Project Finance Modeling

Course details

Project finance modeling

In this session, project finance and project finance modeling are discussed in depth using a full project finance model which analyses a project in depth. The construction phase, operating phase and financing are discussed in detail and include complex issues such as dealing with real and nominal forecasting, maintenance capital expenditure and deferred tax. This prepares participants to be able to effectively and efficiently build any complex project finance model. Debt considerations, credit metrics, project valuation and investor returns are also modelled, discussed and examined.

Learning Outcomes

• Project finance transaction considerations and structure
• Core mechanics of project finance models
  • Construction phase
  • Operating phase
  • Financing with multiple debt tranches
  • Interest during construction
• Financial statement analysis
  • Three statement model
  • Cash sweep and cash flow available for debt service
  • Real and nominal cash flows
  • Full capital expenditure analysis
  • Deferred tax considerations
• Credit analysis
  • An overview of project finance terms
  • Covenants in project finance
  • Market risk and contract risk in project finance
• Investor considerations
  • Returns analysis
  • Project finance valuation
  • Use of project finance model
• Risk and analytical failures
  • Sensitivity analysis
  • Model error checking and best practice

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