À propos de ce cours
4.8
518 notes
167 avis
Learn how debt and equity can be used to finance infrastructure investments and how investors approach infrastructure investments! According to the OECD, the global infrastructure investment requirement by 2030 for transport, electricity generation, transmission & distribution, and water & telecommunications totals to 71 trillion dollars. This figure represents about 3.5% of the annual World GDP from 2007 to 2030. The European Commission estimated, that by 2020, Europe will need between 1.5 - 2 trillion Euros in infrastructure investments. Between 2011 and 2020, about 500 billion Euros will be required for the implementation of the Trans-European Transport Network (TEN-T) program, 400 billion Euros for Energy distribution networks and smart grids, 200 billion Euros on Energy transmission networks and storage, and 500 billion Euros for the upgrade and construction of new power plants. An additional 38 - 58 billion Euros and 181 - 268 billion Euros in capital investment will be needed to achieve the targets set by the European Commission for broadband diffusion. Traditionally investments in infrastructure were financed using public sources. However, severe budget constraints and inefficient management of infrastructure by public entities have led to an increased involvement of private investors in the business. The course focuses on how private investors approach infrastructure projects from the standpoint of equity, debt, and hybrid instruments. The course concentrates on the practical aspects of project finance: the most frequently used financial techniques for infrastructure investments. The repeated use of real life examples and case studies will allow students to link the theoretical background to actual business practices. In the end of the course, students will be capable of analyzing a complex transaction, identifying the key elements of a deal, and suggesting proper solutions for deal structuring from a financial advisor's perspective. Course Format The course will consist of lecture videos, readings, and talks given by guest speakers. Although we do hope you will attend the entire course, it is possible to just focus on single topics. Suggested Readings The course is designed to be self-contained, there are no obligatory readings that must be acquired outside of the course. For students interested in additional study material, you may refer to: • Gatti Stefano, "Project Finance in theory and practice", Academic Press, 2nd edition, 2012....
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Clock

Approx. 16 hours to complete

Recommandé : 6 weeks of study, 1-2 hours/week...
Comment Dots

English

Sous-titres : English...

Compétences que vous acquerrez

Capital BudgetingRisk AnalysisProjectFinance
Globe

Cours en ligne à 100 %

Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Calendar

Dates limites flexibles

Réinitialisez les dates limites selon votre disponibilité.
Clock

Approx. 16 hours to complete

Recommandé : 6 weeks of study, 1-2 hours/week...
Comment Dots

English

Sous-titres : English...

Programme du cours : ce que vous apprendrez dans ce cours

Week
1
Clock
2 heures pour terminer

Project Finance and the Network of Contracts

Module 1 explores the nature of project finance as a nexus of contracts. We will analyze the nature of the SPV (Special Purpose Vehicle) as an empty shell and the key contracts surrounding it (project contracts and financial contracts). ...
Reading
9 vidéos (Total 50 min), 5 lectures, 1 quiz
Video9 vidéos
1.1 - Project Finance and the Network of Contracts Introduction3 min
1.2 - What Is Project Finance?8 min
1.3 - Financial Contracts: Shareholder6 min
1.4 - Financial Contracts: Lenders4 min
1.5 - Metro 5 #15 min
1.6 - Industrial Contracts6 min
1.7 - Metro 5 #28 min
1.8 - Module 1 Takeaways2 min
Reading5 lectures
Additional Material10 min
Grading Policy10 min
SLIDE SET WEEK 110 min
About Quizzes - Read Carefully10 min
Quiz 1 - ProjectCo Case10 min
Quiz1 exercice pour s'entraîner
Project Finance and the Network of Contracts20 min
Week
2
Clock
1 heure pour terminer

Syndicate

Module 2 analyzes the relationship between the SPV and its lenders. We will start from the introduction of what a syndicate is looking at the different roles performed by banks in a syndicate and the options available to organize such a syndicate. We will also look at the cost paid by the SPV for the organization of the financing and reflect on how the recent financial crisis has reshaped the syndicated loans market....
Reading
7 vidéos (Total 56 min), 1 lecture, 1 quiz
Video7 vidéos
2.2 - What Is a Syndicate?10 min
2.3 - What Roles Do Banks Perform?7 min
2.4 - Which Syndication Strategy Can Be Used?10 min
2.5 - How Much Does the Customer Pay?15 min
2.6 - How Has the Financial Crisis Reshaped the Market?7 min
2.7 - Takeaways2 min
Reading1 lecture
SLIDE SET WEEK 210 min
Quiz1 exercice pour s'entraîner
Syndicate20 min
Week
3
Clock
1 heure pour terminer

Risk Analysis

Module 3 introduces the topic of risk in infrastructure financing. We will introduce a possible risk taxonomy (pre-, post-, and both pre- and post-completion risks) useful for analyzing risk as a preliminary step for its allocation to the parties best able to manage and control risk. Our final learning outcome will be the preparation of a risk matrix for an infrastructure project....
Reading
6 vidéos (Total 40 min), 1 lecture, 1 quiz
Video6 vidéos
3.2 - Risk Taxonomy8 min
3.3 - Pre-Completion Risks6 min
3.4 - Post-Completion Risks7 min
3.5 - Risks Common to Both Phases9 min
3.6 - The Risk Matrix and Takeaways6 min
Reading1 lecture
SLIDE SET WEEK 310 min
Quiz1 exercice pour s'entraîner
Risk Analysis20 min
Week
4
Clock
1 heure pour terminer

Capital Budgeting

Module 4 introduces capital budgeting of infrastructure deals. Firstly, we will present the key elements making up the budget of the construction phase and the sources of finance used for the construction of said infrastructure. We will then move on with the analysis of the budgeting of the operational phase pointing our attention to the sources and uses of funds. Special care will be given to the analysis of the system of reserve accounts of the SPV. ...
Reading
7 vidéos (Total 53 min), 1 lecture, 1 quiz
Video7 vidéos
4.2 - Setting Up The Construction Phase Budget9 min
4.3 - How to Finance Construction6 min
4.4 - Exercise #1: Construction Phase Budgeting10 min
4.5 - Setting up the Operational Phase Budget8 min
4.6 - Exercise #2: Operational Phase Budgeting12 min
4.7 - Takeaways2 min
Reading1 lecture
SLIDE SET WEEK 410 min
Quiz1 exercice pour s'entraîner
Capital Budgeting20 min
4.8
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Meilleurs avis

par CYNov 3rd 2017

Great course and great professor! I think this really helps me to understanding the fundamental knowledge of project finance. I think the additional study materials are really worth reading!

par JMOct 5th 2016

Excellent course !!! Provides useful insights into the Infrastructure/Project Finance. Professor has dealt the subject in such a lucid and measured way that it was heart filling experience.

Enseignant

Stefano Gatti

Director
Full Time MBA, SDA Bocconi School of Management

À propos de Università Bocconi

Our ambition is to develop students' potential and foster knowledge in Business, Economics and Law through innovative learning and research activities in a multicultural environment. Bocconi is a community that constantly innovates teaching and learning technologies and that strongly believes in the power of life-long learning and networking. Now available online....

Foire Aux Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

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