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Schedule of ADFIMI Seminar on 'Overview of Project Finance vis á vis Corporate Finance'

January 18, 2013

SCHEDULE OF ADFIMI SEMINAR

Date & Time	Topic	Faculty
DAY 1: 19 November 2012
8.30 – 9.00	Registration
9.00 - 9.30	Welcoming speech

Setting the Stage
Session 1 9.30 - 11.00	Overview of Project Finance Definition and applications Major Participants Risk sharing mechanism Project finance vs. corporate finance History of large project financing Project finance in modern times Advantages and disadvantages	Dr. M. Fouzul Kabir Khan
11.00 - 11.15	Tea Break
Session 2 11.15 – 12.30	Government’s perspective Role of government at pre-bid stage Competitive bidding vs. direct negotiation Steps of project development process Levelized tariff calculation Impact of discounting rate Sponsor’s perspective Purpose of developing a project privately Stages of project development Early stage of development Second stage of development Advanced stage of development	Dr. M. Fouzul Kabir Khan
12.30 – 12.45	Quiz 1
12.45 – 13.45	Lunch Break
Session 3 13.45 – 15.15	Sources of Finance Types of financing Sources of financing Comparison of financing sources Special consideration for project financing in developing countries	Mr. Nazmul Haque
15.15 – 15.30	Tea Break
Project Agreements
Session 4 15.30 – 17.00	Project Agreements Basic document structure Financability of project agreements Risk and mitigation Organizational Documents Key agreements Concession agreement Off-take agreement Cost based contracts EPC contract Input supply contract O&M contract	Mr. Nazmul Haque

DAY 2: 20 November 2012
Session 5 9.00 – 10.30	Financial Modeling Purpose and Uses of Financial Model Introduction to MS Excel Defining cells Depreciation schedule Annuity Amortization Goal seek function Architecture of a financial model Important concepts of Financial Model Annuity and level principal debt profile Grace/Moratorium Up-front, monitoring, & commitment fees All-in-rate	Mr. Nazmul Haque
10.30 – 10.45	Tea Break
Session 6 10.45 – 12.30	Financial Modeling (contd.) Important concepts of Financial Model (contd.) Using logical functions Minimum, Maximum, Average and Rank E-function Net present value (”NPV”) Internal rate of return (”IRR”) Return on equity (“ROE”) Switch Developing a Financial Model Golden rules Input / assumption sheet Calculation sheets Sensitivity analysis	Mr. Nazmul Haque
12.30 – 12.45	Quiz 2
12.45 – 13.45	Lunch Break
Session 7 13.45 – 15.15	Credit Enhancements Credit risk Guarantees Credit enhancements provided by private parties Source of guarantees Guarantees: host country Force majeure Guarantees: multilateral institutions Insurance	Dr. M. Fouzul Kabir Khan
15.15 – 15.30	Tea Break
Finance Documents
Session 8 15.30 – 17.00	Security and Finance Documents Designing Security Package Principal objectives of security Typical components of a security package Definition of legal terms Layered Finance Debt subordination concept Objectives of the two classes of lenders “Deeply” vs. “Standard” subordination Global practice of subordination Inter-creditor agreement Measuring borrowing capacity of the project	Dr. M. Fouzul Kabir Khan

DAY 3: 21 November 2012
Session 9 9.00 - 10.30	Layered Finance Debt subordination concept Objectives of the two classes of lenders “Deeply” vs. “Standard” subordination Global practice of subordination Inter-creditor agreement Measuring borrowing capacity of the project	Dr. M. Fouzul Kabir Khan
10.30 – 10.45	Tea Break
Session 10 10.45 – 12.15	Case Study	Mr. Nazmul Haque
12.15 – 13.00	Evaluation & Certificate Ceremony
13.00 – 14.00	Lunch
14.00 – 17.00	Social Programme