COURSE

Finance Documents Masterclass

This course guides you through the full range of finance documents, i.e. legal agreements to which the lenders are party, and provides participants with a detailed explanation of how they fit together and a close examination of their project-specific provisions.

This course is designed to provide participants with a thorough examination of all finance documents comprised in a typical project finance transaction.

Starting with a refresher session on the principles of project finance, the course dives straight into a case study of a real-life international project finance transaction, examining the structure and contractual matrix.  After a detailed review of key provisions in the credit agreement and accounts agreement, the course covers financial covenants and cover ratios used in the finance documents.

The second half of the course starts with an analysis of an intercreditor agreement term sheet from a multi-sourced project financing and proceeds to cover other key lender documentation, including completion support, direct agreements and security.

The practicality of the course is demonstrated by the four case studies included.

On completion of the course, participants will be equipped with a clear understanding of:

  • The purpose and key provisions of all finance documents used in PF transactions;
  • How the finance documents support and interact with the underlying project documentation, particularly in the area of risk mitigation;
  • The key negotiation points in finance documents, including lenders’ and sponsors’ approaches to these points;
  • Lender requirements in relation to intercreditor arrangements, direct agreements and security.

The course is led by Calvin Walker, who shares his knowledge  gained  from over 25 years’ experience at two major international law firms , where he advised as lead partner on multiple international project finance transactions.