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Project Financial Modelling Masterclass

5 Day Training

Dates: 08 – 12 July | 09 – 13 September 2024

Locations: Johannesburg, South Africa

Platform: Available In-Class / Online

Price: Available on request

Course Introduction

This five -day Project Financial Modelling interactive and comprehensive Masterclass explores PPP, project finance, relevant financial modelling and PPP project management and utilises case studies and exercises to illustrate the theory in practice. Further topics covered include how to make a PPP project work; how to model the role of debt, debt covenants, cash waterfalls, inter-creditor relations, restructuring and rescheduling of debt; how to model risk and the role of equity and its potential rewards.

 

Delegates will gain a detailed understanding of project management, as well as a thorough background as to how project finance and PPP works, both from the strategic perspective of Government and from the standpoint of the numerous other participants, especially banks and the sponsors who are responsible for delivering the projects. With private finance increasingly being mobilised to deliver infrastructure projects in South Africa and the region, this Masterclass meets a real need. On completing the four-day Masterclass, you will have built a fully functional financial model covering the period from the beginning of construction through to the end of the project’s operating period.

Course Objectives

  • Understand how to put together a Project Finance transaction including the documentation required.

  • Apply analytical strategies to assess the degree of risk and benefits of specific project financing.

  • Read and understand project finance models built using best practice modelling standards.

  • Create a dynamic, 3-financial statement model from a zero-balance sheet position.

  • Apply your knowledge and understanding to the process of optimising a model to meet the requirements of key stakeholders in the project; and

  • Develop a checklist with take-aways for immediate application at your institution.

Who should attend?

Chief Financial Officers and Finance Managers.

  • Project Officers and Project Managers.

  • Accountants and Business Managers

  • Bank Relationship Managers and SME Officers.

  • Heads of Treasury and Chief Risk Officers.

  • Risk Managers and Auditors; and

  • Professionals who need to build, modify, and understand financial models associated with project finance and other infrastructure-related transactions (including PPP / PFI projects)

Finance Courses

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Module 1: Overview of Project Finance in Africa

  • What is Project Finance?

  • How does Project Finance create value?

  • Project evaluation

  • Stages in the deal

  • Industry players in Project Finance

  • Role of government in Project Finance

Case Study: Constraints on project finance in contemporary Africa

Group Discussion: the contribution of project finance to economic development in Africa

Group Exercise: Putting together a project finance deal.

Module 2: Funding, Project Finance Documentation & Risk Analysis

  • Sources of funding

  • Bank lending

  • Project Finance Documentation

  • Due diligence assessment and Risk

  • Analysing Risks

Group Exercise: Presenting a project finance proposal to a bank.

Case Study: Infrastructure investment funds in Africa

Case Study: FIDIC contracts

Case Study: Evaluating a World Bank/IFC proposal.

Module 3: Introduction to Modelling

  • Introduction to the Case Study

  • How to build a financial model

  • Modelling standards

  • Excel shortcut tricks

  • Recap on common modelling functions

Module 4: Project Finance Theory

  • Increasing modelling productivity

  • Timeline development

  • Construction costs

  • Construction funding

  • Financing fees

Module 5: Modelling financial statements.

  • Revenue and operating costs

  • Taxes

  • Working capital

  • CAPEX

  • Debt financing

  • Equity

  • Dividends

Module 6: Project Financing Modelling Ratios

  • Cover ratios

  • Debt sculpting

  • Debt service reserve account

  • Maintenance reserve account

  • Revolver

  • Shareholder loans

  • Macros to break circularities.

  • NPV

  • IRR

  • Scenario Analysis

Module 7: Advanced Project Finance Topics

  • Equity First Funding Method

  • Debt Sizing Macros

  • DSRA Macros

  • Scenario Analysis automation

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