THE MECHANICS OF

PROJECT
FINANCE

POST GRADUATE CERTIFICATE

DELIVERED BY DISTANCE LEARNING

OVER 16 WEEKS

Dates:

1st February 2017

19th July 2017

Duration:

16 Weeks

Contact:

www.iff-training.com/pfdl
Tel: +44(0)20 7017 7190
Email: cs@iff-training.com

COURSE
INFORMATION
DELIVERED BY DISTANCE LEARNING
OVER 16 WEEKS

This course offers participants at all levels in the

project finance sector an outstanding opportunity to
improve both their technical and theoretical skills.

The course will enable you to grasp the complexities

of modern project financing and takes you through
everything from the basic concepts of the topic
through to structuring the deal, contracts and the
nuances of the different sectors such as oil and gas
and infrastructure. The revolutionary tool-kit
approach allows you to soak up the practical
components of the course and absorb the information
at a pace that is right for you. Studying this
programme also offers you the option of receiving a
Post Graduate Certificate from the respected
Middlesex University. This is the only project finance
course that offers the chance to get this qualification.
The course takes place over 16 weeks and consists
of eight distance learning units. Every two weeks an
additional unit will be released with the associated
assessment so you can grasp your understanding
before moving on to the next unit. Each unit is
complimented by a 10-20 minute video from the
course director, Steve Mills, taking you through the
components of the course with particular emphasis
on complex areas.

COURSE PROGRAMME

CORE UNITS:
1. An Introduction to Project Finance
2. Qualitative Risk Identification Analysis &
Mitigation (part A)
3. Qualitative Risk Identification Analysis &
Mitigation (part B)
4. Quantitative Analysis, Debt Sizing & Structuring
5. Documenting the Deal
6. Project Finance Time-Line & Project Finance
Security

CHOOSE BETWEEN TWO ELECTIVE PATHS

ELECTIVE UNITS PATH A:
1. Infrastructure Project Finance
2. PPP/PFI Project Finance

HOW YOU WILL LEARN

Through distance learning you can

enjoy the benefits of studying, whilst
minimising disruption to your existing
professional commitments. You can set
the pace at which you learn; applying
the knowledge, skills and expertise
gained from the materials to your work
straight away. Theres also the huge
savings of cost and time by not having
to travel to a training location.

There are two routes of study you can

take: the university-accredited route
and the standard non-accredited route.
Approaching the topics in a modular
format, the course will enable you to
grasp the key concepts in a practical
way and thus helping you build a firm
platform on which to expand your
knowledge.
The course will take you step-by-step
through the different components of
Project Finance. You can study the
units online, save them to your
computer or print them out. You can
also take advantage of the online
forum to meet your fellow participants
and share knowledge, ideas and
information at any time.

At the end of each unit there is a

practical assessment that will allow
you to benchmark your growth in
knowledge and understanding and will
also show you what a tangible ROI
distance learning provides.

Phone
+44 (0)20 7017 7190

Fax
+44 (0)20 7017 7802

Email
cs@iff-training.com

Online
www.iff-training.com/dlprojectfinance

As well as these public training

courses, he has also developed and
delivered tailored in-house workshops
across Europe, in the Middle East and
in the US for a wide range of banks,
project sponsors and other
companies active in limited-recourse
finance. Steves courses have a strong
emphasis on the underlying
mechanics of project finance. Few
banks or project sponsors have the
time or resources to train their staff in
the basic tools of the sector
qualitative risk analysis, debt
structuring and documentation. So
training is essentially carried out on
live projects. Though this can be
effective, it can also be dangerous and
is almost always patchy in its
coverage. In his training, therefore,
Steve aims to distil 30 years of real
deal experience into clear, easilyunderstood units with a strong
emphasis on the toolkit and its
practical application. Delegates
regularly praise the clarity and
thoroughness of his presentations
and, in particular, the value of his
mindmaps and checklists.
Hear from the trainer himself:
www.iff-training.com/VIDPFDL

PREVIEW UNIT ONE FREE OF CHARGE

POST GRADUATE CERTIFICATE

To make your studies more relevant

and valuable, the course is accredited
by the Business School at Middlesex
University at a Post Graduate
Certificate level. For those wishing to
receive a Post Graduate Certificate
from Middlesex University, an
additional marked assignment of 5000
words will need to be submitted, based
on a continuing case study that runs
throughout the duration of the course.

ELECTIVE UNITS PATH B:

1. Oil, Gas & Mining Project Finance

2. Conventional & Renewable Power Project Finance

concentrated on training in the project

finance sector. He has developed and
delivered a number of highly-regarded
public training courses for IFF.

COURSE DIRECTOR STEVE MILLS

Steve Mills is a
career project
financier with 30
years of lending and
advisory experience.
Until 2007 he was
the Head of the oil
and gas project finance team at RBS,
London. Earlier in his career he worked
for HSBC and Sumitomo Bank, as well
as co-founding a corporate finance
boutique firm which specialised in
advisory work for independent project
sponsors. While still occasionally acting
as a consultant, since 2008 Steve has

We are offering you the opportunity

to preview unit one completely free
of charge. This unit will be yours to
work through and assess. After
previewing unit one, there is no
obligation to book on the course. If
you like what you see however, we
will be happy to help you register.

ABOUT IFF

The International Faculty of Finance is

one of the worlds leading specialist
financial training organisations.
Providing participants in the global
financial and energy markets with
intensive technical training
programmes designed to help them
succeed on the global stage.
Established in 1991, we have grown
our business internationally and now
deliver services all over the world.

Our ever-expanding portfolio of two

to five day courses and distance
learning programmes range in
complexity from introductory
programmes for new market
entrants, through to the most
complex subjects in the industry.

COURSE SYLLABUS
UNIT 1
AN INTRODUCTION TO PROJECT
FINANCE
Unit Learning Aims and Objectives

Explain the meaning of the term project

finance and compare and contrast it with
other forms of debt capital especially
corporate borrowing.

Set out the reasons why companies choose

(or do not choose) to use project finance
and explain the contractual structures
typically employed.

Contrast the risk/reward relationship with

the project enjoyed by the sponsor with that
of the banker and how this affects the
lenders attitude to acceptance of risk.

Explore the impact of the credit crisis on

project financing in particular how lenders
attitudes have changed.

UNIT CONTENT

What is Project Finance How Does it Differ

From Other Forms of Lending?

Who Uses Project Finance & Why?

Off-Balance-Sheet lending
Project finance Carve-Outs
Joint ventures/unequal partnerships
Risk sharing
Capital rationing/return maximisation
No Choice

Key Characteristics of Project Finance Corporate Structures & Contractual

Relationships
Usually (not always) limited-liability SPV
Multiple contractual relationships:
Construction contractor(s)
Suppliers
Offtakers
Operators
Insurance providers
Public sector government bodies &
agencies

Disadvantages for Borrowers/Sponsors

Increased complexity (risk
identification/mitigation/allocation)
Need for third-party due diligence reports
Longer time-lines
Higher debt costs interest margins & fees
Supervision by & reporting to lender group
Tighter debt covenants and undertakings
Risk/Reward Relationships of the Players
Lenders & Borrowers/Sponsors
Borrower/sponsor seeks to optimise return
through NPV/IRR/WACC analysis and wide
sensitivity analysis on both upside &
downside
Lender is not exposed to upside in
business of analysing &
managing/mitigating/transferring risk

UNIT 2
QUALITATIVE RISK IDENTIFICATION,
ANALYSIS & MITIGATION (A)
Unit Learning Aims and Objectives

Explain the key qualitative risk factors

analysed by lenders when evaluating a
project financing in this unit particularly
sponsor risk, country/political risk,
completion period issues and operation &
maintenance arrangements.

Explore how these risk factors are perceived

by bankers, mitigated and (where
necessary) allocated to other parties within
or outside the project structure.

UNIT CONTENT

Sponsor Risk A Potential On-Off Switch

Competence & track-record
Management skill-sets
Equity injection capacity & timing
Country/Political Risk Banks are Better at
Accepting Commercial Rather than Political
Risk
What are the risks?
Expropriation, confiscation &
nationalisation risk
Other political perils
War, civil war
Strike, riot & civil commotion
Depreciation & non-convertibility
Mitigating country / political risk
Political risk insurance
Export credit agencies
Multilateral agencies
Risks of the Project Itself (Part One)
Construction/completion risk
Risk areas
~ Time delay
~ Cost overrun
~ Technology
~ Risk mitigants/transfers
~ Transfer to the contractor fixedprice turnkey contracts
~ Transfer to the Sponsor precompletion guarantees & other support
mechanisms
~ Support from the Lender costoverrun facilities
Operation & maintenance risk
Bank preference for robust long-term
arrangements
Alternative types of structure
Key bankability features of O&M
contracts

UNIT 3
QUALITATIVE RISK IDENTIFICATION,
ANALYSIS & MITIGATION (B)
Unit Learning Aims and Objectives

Explain the key qualitative risk factors

analysed by lenders when evaluating a
project financing in this unit particularly
supply risk, reserve risk, sales / offtake
arrangements, approvals / permits issues,
environmental factors and regulatory
considerations.

Explore how these risk factors are

perceived, mitigated and (where necessary)
allocated to other parties within or outside
the project structure.

UNIT CONTENT

Risks of the Project Itself (Part Two)

Supply risks
Split into volume & price
Lender likely to be anxious about
uncovered volume risk
Preference for send-or-pay type of
structure
Price risk analysed through modelling
Reserve risk special type of supply risk
Minerals projects have finite store of
value
Also real sub-surface risks &
uncertainties
Probabilistic vs. deterministic reserve
classification/valuation
Applying banking value to reserves
Sales/offtake risk
Split into volume & price
Lender again likely to be concerned
about uncovered volume risk
Offtake risk mitigation:
~ Take-or-Pay contracts
~ Tolling contracts
~ Marketing agreements
Approvals & permits
Usually transferred to sponsor
Transfer effected through conditions
precedent
Environmental considerations
Of immense & growing importance to
lenders
Impact of environmentally & sociallysensitive projects on lenders
Advent of Equator Principles:
~ Genesis & development
~ Structure & function
~ Impact on:
Project analysis & rating
Credit approval process
Documentation representations &
warranties, undertakings and events
of default
Regulatory risk
Role of the regulator ensuring security
of supply & avoiding abuse of monopoly
Impact of the regulator/regulatory
regime on:
~ Project revenue/cashflow
~ Structure/security

COURSE SYLLABUS
UNIT 4
QUANTITATIVE RISK ANALYSIS AND
DEBT SIZING/STRUCTURING
Unit Learning Aims and Objectives

Examine how an economic model of the

projects projected cash flow is employed to
structure the drawing and repayment of
debt.

Explain the use of Cover Ratios to size

debt, structure the repayment of the
financing, test the debt-servicing capacity
of the project in downside scenarios and
provide command and control
mechanisms during the life of the financing.
Analyse the impact of the debt structure on
the IRR of the sponsor and how the lenders
need for debt-servicing security is balanced
with the objectives of the sponsor.

UNIT 5
DOCUMENTING THE DEAL

Unit Learning Aims and Objectives

Explain the process of documenting a project

financing transaction and the components of
the major documents with particular
reference to the loan agreement itself.

Analyse the purpose and structure of the key

parts of a project loan agreement especially
the control mechanisms incorporated to
protect lenders in periods of weak cash flow or
at the point of default.
Develop an understanding of the way in which
material issues are often resolved and how the
credit crisis has impacted on loan
documentation.

UNIT CONTENT

UNIT CONTENT

The Documentation Process

The lender/borrower/counsel interface
Different approaches to the term sheet
Drafting for completeness with economy

Use of Different Techniques by Borrower to Assess

Project Attractiveness Cashback, NPV, IRR

A Recap on Syndicated Debt Terminology with

Special Reference to Project Finance:
Obligors borrower & guarantor
Use of and access to the funds purpose,
availability & conditions precedent
Loan Economics interest & fees
Repayment &/or prepayment

The Borrower/Sponsor Objectives:

Maximise debt
Minimise/delay equity injections
Maximise/accelerate distributions
Avoid cash-traps

The Bankers Objectives Timely Debt-Service

with an Adequate Cushion
Debt Sizing & Sculpting
The cash flow waterfall in more detail
The Lenders model its structure &
function
Structure of a typical debt unit
Interaction with other parts of the model
Primacy of the cash flow
CFADS the starting point for quantitative
analysis & debt sculpting
Lender ratios for debt calibration & stress
testing
Debt to equity ratio & drawdown control
ADSCR definition & use in the sculpting
of mortgage-style repayment
The NPV-based ratios (LLCR/PLCR) &
sculpting to maintain loan-to-value
Control accounts and other Cash Traps
Debt-service reserve account
Maintenance reserve account
Cash sweeps
Base case design & sensitivity running
Control of input parameters technical &
economic
Calibrating debt & structuring the
repayment methodology/profile
Testing for Weakness bank sensitivity
analysis
Dealing with the toughest issues
accept, mitigate or transfer?
Getting to the optimum debt level
balancing equity against bank funds

The Key Command & Control Mechanisms in

Project Finance Agreements
Control accounts & the cash flow Waterfall
The cash flow waterfall purpose, typical
priority ranking & variations
Types of control account:
~ Disbursement account
~ Revenue/proceeds account
~ Compensation account
~ Debt service reserve account
~ Maintenance reserve accounts
Availability & the debt: equity balance
Conditions precedent
Reps & warranties
Covenants in particular:
Debt & security limitations
Reporting requirements
Restrictions on amending project
documents
Maintenance of ratios
Distribution lock-ups
Events of Default in particular:
Default cover ratios
Default under project documents
Abandonment/cessation of production

Borrower/Sponsor Needs and Hot-Buttons

Access to the loan facility
Limits on operating flexibility & control
Cash-traps & IRR-Killers
Offences against the limited-recourse concept
Pricing margins & fees

UNIT 6
THE PROJECT FINANCE TIME-LINE &
PROJECT FINANCE SECURITYTAKING
Unit Learning Aims and Objectives

Explain in detail the process of

negotiating and documenting a limitedrecourse financing and the way in which
the steps (and their duration) can be
impacted by changes to the economy.

Provide a clear appreciation of the

different instruments typically used by
lenders to acquire a first-ranking security
interest in respect of the project vehicle
company, fixed and current assets,
project contracts and other rights.

UNIT CONTENT

Steps in the Project Financing Process

Pre-feasibility analysis
Financial feasibility analysis using
advisers
Approaching lenders underwriting/best
efforts; financing competitions
The Banks credit process
Due diligence consultants
The documentation process
Reaching financial close
Lender Security-Taking Objectives
Maintaining priority/defeating the pari
passu principle
Maintaining value
Limiting dealings
Negotiating strength
Enforcement/disposal
Relative Value of Different Security Types
Security in Challenging Locations

Key Security Instruments:

Guarantees & indemnities
Bank guarantees & performance bonds
Pledges
Mortgages & charges
Assignments
Security over shares
Credit balances
Direct agreements

EACH DELEGATE TO COMPLETE EITHER

ELECTIVE PATH A OR ELECTIVE PATH B
ELECTIVE PATH A TWO UNITS TO COMPLETE
ELECTIVE UNIT 1
INFRASTRUCTURE PROJECT FINANCE
Unit Learning Aims and Objectives

Set out in detail the qualitative risk analysis and

debt structuring features peculiar to infrastructure
project finance.

ELECTIVE UNIT 2
PPP/PFI PROJECT FINANCE

Unit Learning Aims and Objectives

Provide a clear understanding of the variations in

financing structure and practice seen in key subsectors such as road, rail, port and airports.

Test understanding through a detailed financing

case study requiring risk analysis and the exercise
of judgement on whether a project is bankable and
(if so) optimally structured.

UNIT CONTENT

Sector Background
History of/drivers for infrastructure project finance
Contractual & legal framework
Key project documents the concession & other
government agreements

The Bankers Risk Analysis/Key Structuring & Pricing

Drivers
Local legal issues
Procurement regime
Concession law
Insolvency law
Experience & capacity
Political risk
Concession risk
Awarding authority
Tenor
Revenue basis
Termination
Asset ownership
Security
Penalty regime
Construction issues in infrastructure transactions
Operation & maintenance
Typical risk allocations

Modelling & Structuring Methodology

Base methodology
Sector variants
Roads
Rail/light rail
Ports
Airports

The Infrastructure Project Finance Identikit

Key lender concerns
Typical maturity profile
Likely gearing/leverage levels
Debt sculpting methodology
Pricing
Security structures
Case Study

Set out in detail the qualitative risk analysis

and debt structuring features peculiar to
PPP/PFI project finance, the drivers for the
establishment of the sector and the key
documents which underlie PPP/PFI projects
particularly the concession.

Test understanding through a detailed

financing case study requiring risk analysis
and the exercise of judgement on whether a
project is bankable and (if so) optimally
structured.

UNIT CONTENT

Sector Background
Drivers for PPP/PFI project finance/origins of
the sector
Features of PPPs/contractual and legal
framework
PPP/PFI agreements
The PPP process/public sector involvement
Investor drivers contractors & financial
investors
Impact of credit crunch

The Bankers Risk Analysis/Key Structuring &

Pricing Drivers
Local legal issues
Concession risk
Demand risk who takes it?
Construction issues in PPP transactions
Operation & maintenance
Typical risk allocations
Modelling & Structuring Methodology
Base methodology
Sector variants
Roads
Hospitals
Schools
Prisons
Waste
The PPP Project Finance Identikit
Key lender concerns
Typical maturity profile
Likely gearing/leverage levels
Debt sculpting methodology
Pricing
Security structures

Case Study

ELECTIVE PATH B TWO UNITS TO COMPLETE

ELECTIVE UNIT 1
OIL & GAS/MINING PROJECT FINANCE
Unit Learning Aims and Objectives

Explain the particular challenges faced by lenders

providing limited-recourse finance to projects in the
extractive industries, especially where the bank is to
accept oil/gas/mineral reserve risk.

ELECTIVE UNIT 2
CONVENTIONAL & RENEWABLE
POWER PROJECT FINANCE
Unit Learning Aims and Objectives

Provide a clear understanding of the variations in

financing structure and practice seen in key subsectors such as upstream reserve-based lending,
refinery finance, pipelines and storage, LNG and
petrochemicals.

Test understanding through a detailed financing case

study requiring risk analysis and the exercise of
judgement on whether a project is bankable and (if
so) optimally structured

UNIT CONTENT

Sector Background
The hydrocarbon value chain upstream to downstream
Petroleum geology & reserves the Bare Bones
Mining reserves the Bare Bones
Exploration & development licences, concessions &
other agreements

The Bankers Risk Analysis/Key Structuring & Pricing

Drivers
Upstream oil & gas lending:
Single-field transactions
Portfolio lending
Junior financing products
Refinery finance
Pipeline & storage finance
LNG financing:
Liquefaction
Regasification
Tanker Finance
Petrochemical financing
Financing the extraction & processing of other
minerals

Modelling & Structuring Methodology

Upstream oil debt structuring single & multiple fields
Midstream/downstream debt structuring:
Refineries
LNG
Petrochemicals
Open cast & underground mining

The Oil & Gas and Mining Project Finance Identikit

Key lender concerns
Typical maturity profile
Likely gearing/leverage levels
Debt sculpting methodology
Pricing
Security structures
Case Study

Set out in detail the qualitative risk analysis

and debt structuring features peculiar to
power project finance, the impact of the
power sales arrangements on debt capacity
and structure and the differences between
conventional (gas and coal-fired) projects
and those involving renewable energy
sources.

Test understanding through a detailed

financing case study requiring risk analysis
and the exercise of judgement on whether a
project is bankable and (if so) optimally
structured.

UNIT CONTENT

Sector Background
How power markets work
Financing power projects in emerging
markets
Developed/regulated markets
Base-Load, Mid-Merit or Peaking?
CHP/cogeneration projects
Renewable energy & energy from waste

The Bankers Risk Analysis/Structuring &

Pricing Drivers
Offtake Regime
Power purchase agreements
Tolling projects
Merchant power
Green certificates
Feed-in tariffs
Construction issues in power transactions
Operation & maintenance regime
Typical risk allocations
Modelling & Structuring Methodology
Power purchase agreement transactions
Tolling projects
Merchant power
Renewable power projects
Cogeneration projects
The Power Project Finance Identikit
Key lender concerns
Typical maturity profile
Likely gearing/leverage levels
Debt sculpting methodology
Pricing
Security structures
Case Study

OPTION OF A POST GRADUATE CERTIFICATE

WITH MIDDLESEX UNIVERSITY
We are giving you the unique opportunity to choose
an accredited option for this course and receive a
post graduate certificate on completion. This is a
Middlesex University qualification, jointly developed
by Middlesex University and IFF, and quality assured
by Middlesex University. However, if accreditation
isnt important to you there is still the opportunity to
take the standard non-accredited course.

BENEFITS OF STUDYING FOR A POST

GRADUATE CERTIFICATE WITH US
A MIDDLESEX POST GRADUATE
CERTIFICATE:

WHAT DOES THE CERTIFICATE ENTAIL?

In addition to studying the eight units and passing

eight short self assessment tests after each unit, you
will need to submit a 5000 word assignment at the end
of the course which will be assessed. The assignment
will be a cumulative project that you will work through
and build upon during each stage of the course.

If you wish to book on the certification course there will

be an assessment fee of 300.

ENTRY REQUIREMENTS

Participants wishing to undertake the Post Graduate

Certificate are required to have a degree or equivalent
qualification (or relevant work experience).
Participants wishing to undertake the course but not
receive the Post Graduate Certificate are not required
to have any formal qualifications.

ABOUT OUR PARTNER MIDDLESEX UNIVERSITY

History

Middlesex University is a large London based university

with a history in higher education dating from 1878. In
1992 it was granted the Royal Charter making it a
university. The university offers a broad range of
courses through four academic schools of Arts and
Education; Business; Engineering and Information
Sciences; Health and Social Sciences and their
Institute for Work Based Learning.

Middlesex University has over 34,000 students

studying on its courses worldwide, both at its own
campuses and also with partner institutions, making it
one of the largest providers of British university
education to international students. Middlesex
University has a long history of successful
collaborations with the corporate sector. It was the first
academic institution to develop industry specific MBA
programmes (Shipping & Logistics and Oil & Gas)
delivered 100% by distance learning.

INTERNATIONAL REACH

Middlesex University is committed to meeting the

needs and ambitions of a culturally and internationally
diverse range of students by providing challenging
academic programmes. It has a major international
business school based in London with overseas
campuses in Dubai and Mauritius and a global portfolio
of partnerships delivering high quality accredited
programmes in business and management.
Staff and students come from a wide spectrum of
cultures and backgrounds with a common interest in
executive education that is world class, modern and
applicable. Middlesex University Business School is
proud of its dedicated teachers and its rich range of
learning resources including distance learning and
virtual learning environments.

Is project based and practical

Offers networking opportunities during and

after the course
Provides exceptional teaching staff

Delivers applied learning experiences

Combines academic rigour with individual

support

HOW IS THE COURSE ACCREDITED?

This programme is validated and awarded by

Middlesex University. After successfully
completing your studies you will receive a post
graduate certificate from Middlesex University
which is duly accredited by the British
Government by means of a Royal Charter.
Middlesex University certificates are recognised
worldwide.

QUALITY

The Quality Assurance Agency (QAA) visited

Middlesex in the Spring of 2009 and noted in its
report that its auditors had confidence in the
Universitys current and likely future
management of its academic standards and of
the learning opportunities available to students.

THE UNIVERSITY IS A MAJOR PROVIDER OF

BUSINESS AND MANAGEMENT EDUCATION,
WITH AN IMPRESSIVE TRACK RECORD OF
WORKING IN PARTNERSHIP WITH THE
PUBLIC AND THE PRIVATE SECTOR, AS WELL
AS INTERNATIONAL ORGANISATIONS

FEES
Watch expert trainer Steve Mills introduce the
Project Finance Distance Learning Course

THE MECHANICS OF

PROJECT
FINANCE

POST GRADUATE CERTIFICATE

DELIVERED BY DISTANCE LEARNING OVER 16 WEEKS

Dates:

1st February 2017

19th July 2017

Apply online now

STANDARD PRICE

PG CERT. PRICE

UK Individual or UK Company

2,299 + VAT = 2,758.80

2,599 + VAT = 3,118.80

EU Individual or EU Non-VAT
Registered Company

2,299 + VAT = 2,758.80

2,599 + VAT = 3,118.80

EU VAT Registered Company

(VAT no must be quoted when registering)

2,299 (No VAT to pay)

2,599 (No VAT to pay)

Individual or Company outside the EU

2,299 (No VAT to pay)

2,599 (No VAT to pay)

Click here to see our full terms and conditions

OTHER COURSES IN THE IFF DISTANCE LEARNING PORTFOLIO:

The Mechanics of Corporate Finance

The Mechanics of International Trade Finance
The Mechanics of Loan Documentation
The Mechanics of Derivatives and Financial Products
The Mechanics of Investment Management
The Mechanics of International Financial Reporting Standards
The Mechanics of Credit Risk Analysis
The Mechanics of Risk Management
The Mechanics of Real Estate

Dates:

1st February 2017

19th July 2017

Duration:

16 Weeks

Contact:

www.iff-training.com/pfdl
Tel: +44(0)20 7017 7190
Email: cs@iff-training.com

www.iff-training.com
Tel: +44(0)20 7017 7190
Email: cs@iff-training.com