Project Finance Debt Restructuring

IFF Training

How long?

  • 3 days
  • in person

What are the topics?

IFF Training

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About the course

Defaults are inevitable in today's markets. This course will help you spot the trigger events and take steps to find a resolution. You will learn strategies to prevent a default and what to do when one of your project finance transactions does default.

Any transaction that gets into difficulty will affect all parties involved. By looking in detail at where deals have gone wrong, your understanding of the mechanics and benefits of project finance structuring will be significantly improved, leading to fewer defaults and reduced losses.

After this course, you will have a new understanding of both the restructuring process and each of the counterparty’s positions. This appreciation will lead you to conduct an improved, more efficient negotiation process, where you will recover the transaction faster... and be able to move onto your next deal.

What You Will Learn

  • Default statistics, by industry and region
  • Project Finance Monitoring and red flags
  • What causes default
  • The formal process of default and re-structuring
    • trigger event
    • event of default
    • reservation of rights
    • standstill agreements
    • information gathering
    • restructuring proposals
    • negotiation

Main exercise - VICTORIA HYDRO POWER (VHP) You will examine the descent to default and beyond via the perspective of different project parties;

  • Project company/sponsor
  • Lenders
  • EPC contractors
  • Offtaker/government

Agenda Summary

  • Project Finance Introduction
  • Project Finance Default Statistics
  • Restructuring
  • Monitoring & Red Flags

Core exercise – Victoria Hydro Power (VHP) - looking at a hydro-power project in a fictitious West African country

  • The Brief
  • Role Allocation
  • Project Progress Reports - VHP Information Sheets

The course will also be supported by a range of case studies to illustrate the key structural protections that are built into any project finance transaction, including:

  • The Channel Tunnel
  • Drax and the Merchant Power bust in 2002-3
  • Paiton Energy
  • AES Maritza

Experts

Neil Edmonds

Neil Edmonds has worked in the banking industry for over 35 years. Over the last few years, Neil has worked in the Loan Syndications team at Standard Chartered Bank focusing on Structured Finance transactions. Neil’s involvement in the Power and Utility sectors dates back to the privatisation of...

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Project Finance Debt Restructuring at IFF Training

From  3599 GBP$4,675

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