Advanced Project Finance Modelling

2 day duration

Master the advanced modelling techniques required to drive the analysis of complex projects and transactions across a broad range of industries. Successful execution of project finance transactions requires comprehensive modelling and debt analysis.

Advanced Project Finance Modelling enables you to extend your debt modelling capabilities as a mechanism to drive the transaction process. Bankers, sponsors and investors all benefit from the powerful techniques for debt sizing, covenant monitoring and development of financial statements. With a continuous focus on robustness and flexibility, and analytical techniques, this course is guaranteed to boost your project finance career and give you all the tools to reach financial close. You will learn the modelling principles and structured approach that are applicable across a range of industries including; Infrastructure, Mining, Oil & Gas, Power, Renewable Energy, Utilities and Real Estate.

This advanced project finance modelling course will enable you to

  • Extend your project finance modelling skills to allow you to take a transaction from screening to financial close
  • Develop required techniques for debt sizing, covenant monitoring and advanced debt structures including lock-up mechanisms and debt sculpting
  • Gain a complete understanding of the modelling of Debt Service Reserve Accounts (DSRA)
  • Extend your toolkit to include alternative debt repayment methods for increased flexibility
  • Achieve consistent and accurate outputs with a proven best practice modelling approach

Who should attend this advanced financial modelling course?

This course is suitable for anyone who needs to extend their modelling skills and understand the advanced aspects of project finance models. Typical attendees include Analysts, Managers, Senior Managers and Associate Directors. An existing thorough understanding of best practice modelling and project finance analysis is assumed.

Pre-requisites: Some financial modelling experience required.

Recommended addition to the following courses: Best Practice Project Finance Modelling

If you are interested in a course in financial modelling but in a different field other than project finance, then you may benefit from the valuation financial modelling training course, or the LBO financial modelling course.


Tuesday 6th June 2023

Digital, Europe, Middle East, Africa

Tuesday 6th June 2023

Digital, Americas

Tuesday 13th June 2023

New York, Americas

Wednesday 21st June 2023

Tokyo, Asia-Pacific

Wednesday 21st June 2023

Madrid, Europe, Middle East, Africa

Wednesday 12th July 2023

Perth, Asia-Pacific

Tuesday 18th July 2023

Toronto, Americas

Tuesday 18th July 2023

London, Europe, Middle East, Africa

Wednesday 19th July 2023

Sydney, Asia-Pacific

Wednesday 26th July 2023

Singapore, Asia-Pacific

Monday 7th August 2023

Digital, Europe, Middle East, Africa

Monday 7th August 2023

Digital, Americas

Wednesday 23rd August 2023

Dubai, Europe, Middle East, Africa

Course Agenda

Day one

Re-examine the main principles underpinning our financial modelling methodology

Share insights into effective modelling of refinancing analysis for rapid and robust analysis:

  • Discuss the mechanics of a refinancing – amount, timing, fees and repayment
  • Learn different ways to treat the refinance fee
  • Discuss the concept of sequential refinancing

Learn powerful techniques for alternative repayment methods for debt sculpting:

  • Understand how to effectively model debt sculpting
  • Build in switches to allow different structures to be rapidly analysed
  • Develop a Debt Service Reserve Account (‘DSRA’) from first principles
  • Integrate the DSRA into the financial statements and reinforce the purpose of the cashflow waterfall

Build working capital forecast and integrate it into a developed model

  • Model debtor and creditor accounts
  • Discuss common errors and pitfalls

Day two

Learn a structured approach to comprehensive depreciation calculations:

  • Remove the need for cumbersome tables
  • Incorporate switches for multiple depreciation methods
  • Easily replicate calculations for accounting and tax depreciation
  • Build out a maintenance capex programme that can be easily incorporated into depreciation calculations
  • Produce easily replicable tax calculations for geared and ungeared taxation and incorporate the tax losses into the taxable income

Understand how financial statements are constructed and how to identify common problems:

  • Master the structure of completed three way financial statements
  • Learn how to continuously test and debug the integrated statements
  • Incorporate all of the debt components into integrated statements
  • Develop checks to automate error checking within the model and discuss the importance of these when developing complex financial models

Understand critical concepts and techniques in debt sizing to support debt structuring discussions:

  • Single factor optimisation via maximum gearing or minimum DSCR to vary debt size to achieve target cover ratios
  • Discuss dual factor optimisation to achieve target cover ratios and returns

Use advanced Excel techniques for rapid and accurate multi-dimensional sensitivities:

  • Develop simple macros to avoid common circularities inherent in project finance calculations
  • Become familiar with the VBA environment and understand some core functionality
  • Discuss common errors when starting to develop macros and how to make macros more efficient
  • Use VBA to control data tables so they do not adversely affect calculation speed

Contact us to find out more