Project Finance Modelling

Advanced financial modelling taught using best practice principles

Project Finance Modelling will teach you how to build a financial model to evaluate equity returns and secure non-recourse debt (known as project finance). On completing the course, you will have built a fully-functional financial model covering the period from the beginning of construction through to the end of the project’s operating period.

After attending the course you will receive access to the online version of the course to help you implement what you learned in the classroom. Online access and post-course support is ongoing.

Our public courses are run in London, Dubai, Rotterdam, Frankfurt, Singapore, Johannesburg, Edinburgh and Toronto. The course is also available live online via tutor-led distance learning.

Book and pay online for your place below, or contact us to request an invoice.

What you will learn?

We will apply general business and non-recourse finance theory to build a cash flow forecast appropriate for the financing of greenfield projects and special purpose vehicles (“SPVs”). You will build a model that evaluates equity returns and may be used to negotiate and secure non-recourse debt through a process of model optimisation.

On completing the course, you will have built for yourself a fully-functional financial model covering the period from the beginning of construction through to the end of the project’s operating period.

Who should attend?

Our Project Finance Modelling training is designed for professionals who need to build, modify and understand financial models associated with project finance and other infrastructure-related transactions (including PPP/PFI projects).

The course is designed for analysts and managers with some modelling experience who have responsibility within their organisations for developing or maintaining project finance models. Many of our participants benefit from completing our Financial Statement Modelling course (either online or in the classroom) in preparation for this more advanced financial modelling course.

If you would like to do the course online, you can find an online-specific brochure and details here.

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Book your course

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All of our courses are now available as Tutor-led Distance Learning; contact us to learn more about this option.

If you’d like to receive special offers and discounts via email let us know.

Date
Format
Location
Duration
Instructor
Price
23 - 24 Sep 2020
Classroom-based
Dubai
2 days
Omar Shaker
£1,500
20, 22, 27 & 29 Oct (BST time zone)
Tutor-led distance learning
live online
30 hours
Andrew Berkley
£995
Any
Video-based
online
30 hours
Andrew Berkley
£595
Dates to follow
Classroom-based
London
2 days
Andrew Berkley
£1,900
Dates to follow
Classroom-based
Antwerp
2 days
Mark Ringrose
£1,900
Dates to follow
Classroom-based
Frankfurt
2 days
Mark Ringrose
£1,900

Course Topics

Construction costs
  • sources and uses of funds
  • construction finance: approaches to debt draw downs
  • concept of funding circularity
Fees during construction
  • financing fees
  • interest during construction
Linking construction and operations
  • conversion of the senior debt from construction debt to term loan
  • term loan calculations
  • accrued interest balances
Debt service cover ratios ("DSCR")
  • 6 month current
  • 12 month backward and forward
  • average: simple vs weighted
  • minimum
Loan life cover ratios ("LLCR")
  • initial
  • rolling
  • testing rolling LLCRs
Project Life Cover Ratio ("PLCR")
  • initial
  • rolling
Term loan
  • principal repayment profiles
  • debt sculpting
  • ratio convergence
Equity returns
  • dual timeline calculations
  • XIRR
Model optimisation
  • model optimisation: concepts and objectives
  • introduction of Visual Basic / macro coding
Debt service reserve account ("DSRA")
  • deposits and withdrawals
  • stress-testing the model with cash shortfalls
Shareholder loans ("SHL")
  • impact on equity returns
  • thin capitalisation cash tests
Revolving credit facility ("RCF")
  • standby facility
  • cash tests
Maintenance reserve account ("MRA")
  • deposits and withdrawals
  • impact on income statement
Find out more:

Our clients

Asset Alliance Group logo
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I use my new found skills on a daily basis and can’t speak highly enough of the course and what it has given myself and my colleague. It has changed how we do all of our modelling in the company and has received really positive feedback from everyone that has used the model or reviewed the model.
Sally Brierley, Financial Modeller, FCC Environment
We were stunned at the difference that a standardised approach made. Our new Excel models can provide information that just isn’t accessible through an ERP.
Philip Whittingham COO (and former FD), Virgin Trains
The course was great. I learned so much and really enjoyed it. I’m looking forward to using it in my own work. I would be very happy to recommend the course.
Eric Eastlund, Head of Analytics, SCIO Capital
From start to finish the team were very professional and demonstrated considerable experience in what they were doing. The end result is an exceptionally powerful tool, which is straightforward to use, and now forms the backbone to our forecasting process. I would have no hesitation in recommending F1F9.
Douglas McArthur, CA Group FD, Asset Alliance
[The instructor] was enthusiastic about the material and the course itself which created good engagement in class. I particularly liked the fact that we were consistently taking part in the course, rather than being "taught" we were facilitated.
Andrew Dias, Finance Business Partner, Stansted Airport
The Enterprise model is great value for money. We compared it to the other standard reporting systems available such as Sage and Oracle but the F1F9 solution was much cheaper and also gave us the flexibility to change the way we report our business as it grows and develops. It has halved the time our month end reporting process takes. We started out wanting a model for budgeting purposes only but when we saw what the model could do we decided to use it for actuals reporting as well as our rolling forecasts.
Charles Carolan, Senior Financial Analyst, Skrill
[The instructor] was absolutely excellent. Everything was extremely clear, the pace of the class was spot on. I thought I would come away being slightly better at reading models but actually now I would feel completely confident starting my own.
Emma Paterson,  SSE/ Beatrice Offshore Windfarm Limited 
The team at F1F9 were responsive, hardworking and helped us upgrade our model to be fit for purpose post acquisition. F1F9 took the time to understand our needs early in the process, met deadlines and were professional in their approach.
Investment Manager, UK Private Equity House
Thanks for the excellent academy which has so boosted my own modest modeling skills. F1F9's strong customer service culture is a big help.
Geoffrey Finch, Resident Adviser for Infrastructure Finance for the US Treasury Office of Technical Assistance - Government of Paraguay, Ministry of Finance
I particularly liked the setup of the online training, and the portions provided in each section. The ability to go back and review and exercise with the models after each training and even after a few training provided an excellent opportunity to really 'learn' the skills. The setup allowed for my own pace of learning and the time I was able to dedicate besides work to complete the training. I highly recommended the training to colleagues.
Hartmut Weissmann
Very useful tips and tricks, certainly helped me a lot in understanding and 'simplifying' the enormous models. Thank you very much!
Julie de Bock, Senior Advisory / Corporate Finance, BDO

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Looking for live online training?
Tutor-led Distance Learning

Any of our courses can be delivered as tutor-led distance learning - to learn more about this interactive and flexible option call Andrew Berkley on +44 20 3239 8534 or email info@f1f9.com.