Strategy and Execution

Address Key Issues

Understand the implications of Covid-19 for PPP and infrastructure projects

Gain A Full Understanding

Gain insights into the industry from a veteran with 30+years industry experience

Key Takeaways

Best practices in PPP and infrastructure finance

The A-Z of private finance

Budgetary constraints, changing populations, and political demands for economic development and renewal, and now the colossal impact of Covid-19 have produced a continued appetite for private capital to provide much needed infrastructure and social development projects; ranging from airports and ports, roads and railways, to schools and hospitals. These are the largest, most challenging, and important investment opportunities anywhere in the world.

Globally, there are now a plethora of different investment routes to PPP as well as a wide range of different financial structures. Attend this course to understand how private finance is and will continue to be used for infrastructure – the logic, financial structure, risk analysis, legal background, contracts, and scope of projects are examined in great depth with a range of relevant local case studies and plenty of group work and participation.

IN JUST 3 DAYS YOU WILL:

  • Learn how countries mobilise private finance for infrastructure
  • Appreciate the implications of Covid-19 for infrastructure projects and PPP
  • Compare a range of different PPP projects and be able to appreciate the different structures for PPP and other styles of private finance investment
  • Review PPP financing structures, tax and valuation by examining PPP contracts and financial models in detail
  • Place PPP projects in their global context and evaluate the future structure, challenges, and prospects for the PPP market

MEET YOUR TRAINER

After having worked on a range of commodity and energy derivative contracts for the London Commodity Exchange, in the 1990s he set up his own consultancy, developing particular expertise in infrastructure development, where he has advised institutions including banks, developers and governments worldwide. He has also published a number of technical books, including on financial modelling, derivatives, and forecasting.

He regularly presents seminars on a range of topics, with a particular interest in developing country infrastructure, renewable and project finance, modelling and valuation, to international firms, banks, and public-sector agencies including ministries, central banks and sovereign wealth funds.

Organisations that will benefit:

  • Governments
  • Regulators
  • Sponsor and Construction Companies
  • Legal and Accountancy Firms
  • Investment Banks
  • Retail Banks
  • Consultancies
  • Equity Sponsors
  • Corporates
  • Investors

Who will attend:

  • Directors
  • Accountants
  • Lawyers
  • Trade Finance Managers
  • Portfolio Management Personnel
  • Credit Function Staff
  • Business Development Executives
  • Offtakers
  • Policymakers

COURSE AGENDA

Day 1: Background and Future of Infrastructure Finance ⇓

  • Current position, future trends, and developments
  • Covid-19 and the future of infrastructure finance
  • Case Study: Comparison of infrastructure project decision-making during Covid-19
  • Financing Options
  • Why have PPP schemes stalled in the UK?
  • Case Study: Replacing PPP with regulated utilities – how viable?
  • The convergence of real estate, infrastructure, and PPP markets
  • Structures in PPP Projects
  • Case Study: The Arnhem A12/A15 motorway (VIA15)
  • Comparative PPP Procedures – the Framework for Public-Private Partnerships
  • Lessons from PPP Experience worldwide
  • Case Study: The European Development Bank and the role of the private sector
  • Case Study: key legal points for infrastructure financeKey Issues in PPP
  • Case Study: Putting a PPP bid together – the essentials
  • Public sector comparators (use, selection, construction, and application)
  • Managing long-term delivery of PPP
  • Case Study: Comparing Costings in a PPP versus conventional procurement – how to evaluate value for money in a PPP

Day 2: Finance and the Law ⇓

  • Sources and Types of Debt Funding
  • Contract length and size
  • Whole lifecycle costing
  • Syndicated Debt – secondary market
  • Debt and inter-creditor issues
  • Case Study: Basel, Solvency II, liquidity regulations and Infrastructure capital requirements
  • Special Purpose Vehicles – SPVs
  • Ratings and Ratings companies – Fitch, S&P and Moody’s
  • Case Study: Rating analysis of infrastructure projects – international comparisons of projects
  • Case Study: Review of financing guidance and codes in PPP Projects, focusing on social infrastructure, water, power and transport projects
  • Sources and Types of Equity (“Sponsor”) Funding
  • Case Study: The Foresight Infrastructure Fund
  • Cross-border equity investment and passporting after Brexit
  • Case Study: Evaluating the financial model of a PPP transaction – assessing debt, equity and risk
  • Overview of Risk and Risk Allocation
  • Alteration in government policy and the law
  • Case Study: The impact of Covid-19 on PPP risk eventuation
  • Additional Factors in PPP Project Implementation
  • Case Study: Land, land pricing and the evolution of PPP
  • Case Study: Managing existing international PPP contracts after Covid-19
  • Case Study: Transport concession analysis– modelling demand and pricing
  • PFI / PPP Contracts
  • Review of UK, Australian and European PPP contracts
  • Case Study: Blended structures – a review of Indian highway concession and pipeline PPP contracts
  • Future Prospects – the challenge of infrastructure in an indebted world
  • Case Study: Scotland, Wales and other devolved sub-sovereigns – individual pathways (such as the Mutual Investment Model) to PPP and infrastructure funding
  • Case Study: Review of the future size and scope planning for PPP projects in the post Covid-19 world

Day 3: Building a PPP model ⇓

  • Based on a real example, provided by an equity investor in a PPP transaction, delegates will construct and use a model for the transaction. The exercise will include:
    • Project Review
    • Analysing the inputs
    • Dealing with input priorities
    • Data plausibility
    • Cashflow Projections
    • Loan assessment
    • IRR NPV and other valuation analysis
    • Risk Analysis using sensitivity, scenario and Monte Carlo
    • Issues of local application
  • Course conclusion

For further information please call: +44 (0)1372 308547

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