Project financing

The main objective of the course is to provide students with the necessary theoretical and conceptual tools for financial analyses and decision-making in relation to Financial analysis of the international projects. The elective is designed for students pursuing careers in the corporate sector in treasury, corporate finance or business development functions, those in investment banking, consulting or engineering, and those involved in debt or equity investment decisions. It is particularly appropriate for students with an interest in medium to large-scale investments or projects. The course is especially appropriate for students with an interest in either emerging markets or structured finance.

The course provides a solid grounding in the techniques of Financial analysis of the international projects and the key issues in its practice by providing a balanced mix between technical readings and specialized case studies. Strong emphasis is placed in covering important legal documentation issues and in providing students with the opportunity to undertake project evaluation.

The course syllabus will focus on studying how lenders evaluate credit ratings in project-financed transactions and build alternate financing structures including bridge loans, construction and portfolio financing.

The audience for this course includes: students of finance who wish to be fully knowledgeable concerning the techniques modern financiers are using to finance large-scale projects.

At the end of the course students are able to: 

• explain the organisation and structure of international capital markets and its agents;
• explain major concepts and to calculate determinants of asset prices and interest rates;
• describe the functionality of international money markets and to name selected instruments;
• outline the structure of international equity markets and to explain the principles of IPOs;
• explain the structure of international bond markets and credit derivatives as well as to conduct selected calculations;
• analyse interest rate risk, to develop basic hedging strategies and to conduct calculations in the context of interest rate derivatives;
• analyse international portfolio investments and to conduct corresponding calculations;
• explain the functionality of asset securitisation and corresponding structured finance as well as to appraise different structural features and credit enhancement techniques;
• give examples and to describe the mechanics of financial distress, contagion and crises.

Contacts: Zenkina Elena Vyacheslavovna