• Defining project finance
• Taking a look at the reasons for project financing
• Difficult projects to bank
• The difference between limited recourse lending and project finance
  

Second segment
Sponsor considerations

• The role of the sponsor
• Internal rate of return
• Pricing considerations
• Debt versus equity risk
• Tensions between borrowers and lenders

Third segment
Risk

• The concept of risk
• Different types of risk
• Risk analysis
• Risk mitigation
• The Risk Matrix

Fourth segment
Structuring and funding

• Free cash flow and critical ratios
• The Term Sheet and key covenants
• Prime forms of funding

Fifth segment
Processes

• The Financial Model and Due Diligence
• The credit process
• The legal process
• Financial close

17:00 Close of masterclass

About your masterclass presenter
Charles Marais
Partner: Project Finance
Bridge Capital Group, South Africa

Charles Marais is a qualified attorney with postgraduate qualifications in
Income Tax Law and Financial Markets & Instruments. For the 5 years
to the end of March 2003, he was instrumental in the growth of
Project and Export Finance in Absa Corporate & Merchant Bank, South
Africa, to market leader in Africa.

He is a former General Manager of ABSA Corporate & Merchant Bank
where he held the position of Global Head: Project & Export Finance.
He currently holds the position of Partner: Project Finance with the
Bridge Capital Group in Sandton, South Africa where he has been
involved in the advising on and arranging of finance for a mining project
in Spain, electrification projects in Mozambique and South Africa and an
eco-tourism project in Botswana. He also acts as advisor to several
South African project sponsors across the spectrum of economic activity.