Project Finance

Managing interest rate risk, inflation risk, foreign exchange risk, and refinancing risk in project finance. Covers hedging with swaps, caps, and collars, plus swap breakage costs and hedge documentation.

Learn how debt sculpting optimizes project finance repayments to maintain constant DSCR across variable cash flows.

Learn how export credit agencies (ECAs) and development finance institutions (DFIs) support project finance with loans, guarantees, and political risk coverage for emerging market infrastructure.

Comprehensive guide to project finance model structure, inputs, outputs, and uses. Covers CFADS, cover ratios, sensitivity analysis, and Banking Case vs Base Case.

Learn how debt:equity ratios work in project finance, from 90:10 for availability-based PPPs to 50:50 for merchant power. Covers cover ratio constraints, equity timing optimization, Equity-Bridge Loans, and contingency financing.

Learn about PLCR, how it differs from LLCR, the Debt Tail concept, and why lenders require extra project life for security in project finance.

How governments support infrastructure projects through viability gap funding, minimum revenue guarantees, credit guarantees, and policy bank lending.

Understand the contractual architecture of project finance: Project Agreements, EPC contracts, Direct Agreements, security packages, and loan documentation.

Learn how project companies and SPVs work in project finance — ring-fencing, legal structures, JV arrangements, and holding companies.

Political risk in project finance covers expropriation, change in law, currency restrictions, and government contract repudiation. Learn mitigation strategies including government support agreements and political risk insurance from MIGA and bilateral agencies.

Learn how to calculate LLCR in project finance – the NPV-based debt coverage ratio that lenders use to size loans, set covenants, and assess credit risk for infrastructure projects.

Understand the key project finance contract structures: BOT, BTO, BOOT, concession agreements, PFI availability-based contracts, and offtake contracts.