Project Finance Documentation Masterclass

Learn how to identify, understand and negotiate the key provisions in project and finance documentation which tend to provoke most debate between sponsors and lenders; avoid the various traps lying in wait for less-experienced practitioners.

This course is designed to provide participants with a practical framework for analysing project risks and identifying and overcoming the “hot buttons” which tend to be a feature of most project finance document negotiations.

Starting with a session on the bankability of project documents, with a particular focus on construction phase risk, participants are guided through the lenders’ approach to analysing  project risks and understanding the various mitigation strategies, including the different types of pre-completion support.  Participants will receive and review extracts from a project finance glossary of terms and a sample EPC contract.

The second half of the course starts with a focus on the dozen or so ”hot buttons” which underpin all project finance transactions and, in each case, the participants will learn what options are available and the likely lender requirements.  The course will also cover broader lender requirements, e.g. in relation to intercreditor arrangements, direct agreements, insurance and security.

The course wraps up with a finance term sheet case study in which the participants play the role of advisers to lenders, responding to a sponsor-generated term sheet (these roles can be reversed).

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

  • The bankability of project documents and lenders’ approach to construction risk;
  • The different options for completion support and lenders’ approach to EPC contract review;
  • Risk allocation & mitigation techniques, including force majeure;
  • The key negotiation points or “red buttons” in PF documentation, including lenders’ and sponsors’ approaches to these points
  • Lender requirements in relation to intercreditor arrangements, insurance, direct agreements and security.

The course is run as a one day classroom tutorial or as two half day live webinar sessions and 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.