PROJECT FINANCE

Singapore, 30 May - 1 Jun 2016

Also available:

Singapore, 22-24 Aug 2016

COURSE AGENDA

Accurate as of 07 April 2016. Always refer to website for latest information.

 Get To Grips With Project Finance Modelling

At the 3 Day MBA in Project Finance Modelling, you will adopt a hands-on approach to get to
know the key concepts and apply them immediately through the use of live sector-specific
case studies, in areas such as LNG, power, oil, telecoms, rail, airports and mining.

You will use practical templates and stories from the field to illustrate the relevant points.
You will receive models which are ready-to-use and sharpen your analytical capabilities. You
will take away more than 400 pages of documentation and materials. This is your ideal, single-
source desktop manual to getting answers to real-life modelling and implementation problems.

An existing thorough understanding of best practice modelling and project finance is assumed.

What you will learn in just 3 days...

Apply global best-practice techniques to build your project finance and cash flow models
on key scenarios
Learn how to conduct sensitivity and break-even analysis
Avoid the 6 killers in project finance, i.e. risk factors that can lead to failed or distressed
financing
Build and assess your project cash flow, liquidity, debt covenants and equity IRRs
Learn how to implement essential documentation and legal structures
Find out how to spot the weaknesses in your project: select the best structure to get you
to a financial close
Work out which funding market to approach next
Find out the latest in Public Private Partnerships

Accurate as of 07 April 2016. Always refer to website for latest information.

 COURSE SCHEDULE

Day 1: Project Finance Modelling Fundamentals

Project Finance The Analytical Task
Essential ingredients of limited recourse financings
Risk identification, quantification and management
Objectives of the various constituencies involved
The Financier Perspective
Solvency and debt serviceability
Project dynamics
The cashflow waterfall
Lockup covenants
Financial covenants LLCR, PLCR, ADSCR
Amortisation structures
Cash sweeps
The role of the project finance model
Modelling differences between infrastructure and other projects.
The Sponsor Perspective
Valuation without project finance
Changes if limited recourse is adopted
Sponsor IRR
The drivers of the Sponsor IRR
The Different Types of Financial Modelling
valuation models
transaction structuring models
statistical probability modelling
data manipulation models
Model Design
the layout of the model
designing the Analysis worksheet
planning the functionality of the model
organisation of model inputs
the logic flow throughout the model
the status worksheet, debugging the model
the log, maintaining model discipline
Modelling Best Practice

Accurate as of 07 April 2016. Always refer to website for latest information.

 model efficiency
the importance of consistent timelines
consistent formulae across columns
hard coding in formulae
which circular references are permissible, which not
best practice for macros
Setting up the Model (practical work)
Structuring the worksheets
Protecting timelines
Flags and masks

Day 2: Analysis & Concepts

Pre-Completion (practical work)
review of the construction stage of the project
liquidated damages
performance bonds
completion guarantees
interest during construction
multiple trnache drawdons
Practical - building the construction phase worksheet
Financing Worksheets (practical work)
the cashflow profile of different project financing sectors
modelling annuity-bassed amortisation
modelling straightline amortisation with dynamic capability
modelling cash sweeps
IRR and NPV
the defects of the IRR and NPV functions in excel
comparing and contrasting IRR, MIRR, XIRR and XMIRR
which method of calculation should be used in project finance models
the importance of semi-annual timelines for structured financings
illustration of implementations.
Reviewing Models
procedures upon receiving a model supplied by others
identifying the model's architecture
tracing the logic flow
the use of audit software

Accurate as of 07 April 2016. Always refer to website for latest information.

 Day 3: Applying the concepts
Particular Modelling Challenges
Some of these topics will be practical implementations, some will be walk-through
illustrations the choice depending on time availability and priorities of the attending
participants.
the modelling of currency exposures;
multiple financing tranche drawdowns;
interest during construction;
the modelling of depreciation;
modelling of the cashflow waterfall;
implementing the Loan Life Cover Ratio and ADSCR;
the Analysis worksheet:
for sensitivity analysis;
for scenario analysis;
for breakeven analysis.
Walk-Through of a Project Finance Model
The walk-through involves a careful explanation of the business logic and the
implementation methodology
The Revenue Worksheet
modelling offtake agreements volumes and prices
modelling concession terms
elasticity of demand calculations
The Operating Costs Worksheet
explanation of the origins of cashflow volatility
determining the cost drivers
modelling the cost profiles
estimating the changes in structure when the scenarios are altered
differential escalation of costs
The Tax Worksheet
the generic issues pertaining to tax [tax is jurisdictionally specific]
assessable income vs accounting income
Accounting Reconciliations Worksheet
terms of trade
accounting depreciation using VDB function
Financing Worksheet

Accurate as of 07 April 2016. Always refer to website for latest information.

 different types of amortisation
Financial Statements Worksheet
Cashflow Waterfall Worksheet

Accurate as of 07 April 2016. Always refer to website for latest information.

 MEET YOUR TRAINER

Richard Capps is a world-renowned project nance practitioner and

consultant with more than 25 years of project nance industry experience.
Prior to becoming a full-time consultant, Richard was the Chief Financial
Ofcer of a major conglomerate, involved in resort / hotel development, media
and entertainment. During his 6-year tenure, Richard undertook the
management of 23 equity raisings ($1.3 billion), 14 acquisitions, and major
complex nancings (aggregating $3.2 billion).

PRICING

THE EARLIER YOU BOOK, THE MORE YOU SAVE

Before 22 Apr 2016 Before 13 May 2016 After 13 May 2016

SGD $5,995 SGD $6,295 SGD $6,595

Save SGD $600 Save SGD $300

INHOUSE TRAINING

Need to get your whole team up to speed? We can come to you. For groups of six or more, our
trainers will design a bespoke programme to meet your business needs, including a lesson pack
with examples, models, user-driven content, custom case studies everything you need to keep
learning on your own time.

In-house training is the most cost-effective and convenient option for teams, so get in touch
today and let us customise your training experience.

For futher information please refer to: http://www.terrapinntraining.com/in-house-training

Accurate as of 07 April 2016. Always refer to website for latest information.

Accurate as of 07 April 2016. Always refer to website for latest information.
 CONTACT US

Terrapinn Training - Asia Pacific

Terrapinn Pte Ltd

1 HarbourFront Place
#18-01/06 HarbourFront
Tower 1
Singapore
098633

Telephone: +65 6322 2712

Email: priti.kalra@terrapinn.com

LINKS

www.terrapinntraining.com
www.terrapinntraining.com/training/454/3-Day-Masterclass-in-Project-Finance-Modelling/

Register at:

https://secure.terrapinn.com/v5/step1.aspx?E=8477

Accurate as of 07 April 2016. Always refer to website for latest information.