Live Webinar from 9.00am to 12.30pm (UK)
February 28th 2025
£495 (plus VAT if applicable)
REGISTER HERE
This course has been designed to introduce participants with little or no prior knowledge of infrastructure and PPP projects to the fundamental requirements for raising project financings in the transportation, water and waste, and social infrastructure sectors.
The course will set out the wide range of potential projects in this broad market segment including transportation (airports, roads, rail and ports), water and waste,and social infrastructure and explain how projects in the sesectors can be delivered as PPPs, concessions or entirely private venture sand have, as a result, very different risk profiles. After this broad introduction, participants will review the different debt structures that have been developed to finance infrastructure and PPP projects before being guided through the lender’s approach to analysing the risks and mitigants inherent in these financings. Lastly, the course will examine the increased importance of ESG considerations as well as the growth of green and sustainability-linked finance in the project finance world.
The half-day course (3½hours), which is delivered by live webinar, is led by Ashley Blows, who shares his knowledge gained from over 30 years’ experience leading and advising on project finance transactions with a particular focus on the transportation, water and waste, and social infrastructure sectors including various PPP markets as well leading multiple green and sustainability-linked financings.
The Infrastructure & PPP Markets
- Transportation (roads, airports, rail & ports)
- Water & waste
- Social infrastructure (hospitals, schools, housing & more…)
- PPPs v Concessions v Private Operation
- Varied range of project revenue streams & associated volatility
Fundamentals of Financing Volume-Based Projects
- Exposure to traffic/volume forecast risk
- Difficulty of project-financing green field, volume-based transportation projects
- Debtsizing based off conservative downside forecasts
- Higher pricing, lower coverratios & financings of ten short-term
- Well-established volume-based projects can be akin to utilities
- Waste sector financings more challenging when based on volumes-arising rather than contracted volumes
- Caution re technology(e.g. waste, EV charging, etc)
Fundamentals of PPP Project Financing
- Generally the provision of lower risk assets and services in return for availability-based government cashflows
- Higher leverage than most other project financings
- Commoditised project finance structures and often low pricing & long tenors
- Greater prevalence of institutional lenders
- Essential and politically-sensitive services
- Increased focus on end of concession hand-back
Overview of Risk Identification & Mitigation
- Sponsor Risk–motivations, strengths & limitations
- Country/Government Risk
- Form of Operation: Private v Concession v PPP
- Construction & Technology Risk
- Supply & Offtake Risks
- Refinancing Risk
- Operation & Maintenance Risk
- Environmental, Social & Governance Risk