Infrastructure Finance in Asia - Final Brochure

7/30/2019 Infrastructure Finance in Asia - Final Brochure

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Infrastructure Finance in AsiaSingapore - 26, 27 and 28 November 2013

InfraPPPWorldS.L.+34661249763

[email protected]

www.infrappptraining.com

Government executives Project finance professionals Commercial, investment and

corporate bankers Contractors Consultants

Course Director: Andrew Kinloch+20 years experience arranging debt and advising on project finance dealsWho should attend?

Investment Analysts Project Sponsors and PPP developers Engineers Accounting and Legal Practices Export Credit Agencies

The market for Project Finance in Asia is potentially huge -according to the ADB, $8trillion worth of infrastructure needs to be financed by 2020 and only a fraction of thiswill come from host governments. The governments recognize this and are looking to

foreign Export Credits and the private sector to help plug the gap with Project Finance.But much needs to be done if this potential is to be converted into actual deals signed.

This course introduces the superior risk assessment and focus on allocation ofresponsibilities and rewards which are fundamental to Project Finance. It explores thetechniques used by Project Finance to control cash flows in a wide range of outcomesand to incentivize performance by counterparties in transactions which are high profile,high value, long dated, much needed yet politically sensitive.

Using recent case studies from across the region, the course spans all infrastructuresectors across Asia where opportunities vary considerably according to size and depthof markets, readiness of host governments, commitment of local sponsors, ambition ofexporters and a cast of commercial banks which has changed completely in recentyears. It does so by learning lessons both from deals which were successful and thosewhich needed reworking and by drawing on the Course Directors first - handexperience of equity, debt and public sector perspectives both in Australia and the U.K.where many Project Finance concepts were first developed then, for the past fifteen

years, in the very different markets of Asia.

Course Overview

Course Director


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Day One1. INTRODUCTION Objectives Course Director introduction Delegate introductions: why you should use

Infrastructure Finance with your organization Evolution of Infrastructure Finance into todays

sectors

Deal snapshot: IPM Eagle, global Sources of Infrastructure Finance: sovereign, SOE,

equity, capital markets, bank debt, MLAs / ECAs and

when to use whichCase study: BP Amoco merger, globalDeal snapshot: Tangguh, Indonesia Distinguishing features of Infrastructure Finance:

concepts of limited recourse lending and riskallocation

The Infrastructure Finance market in Asia Privatisation, single asset corporations and project

financeDeal snapshot: Privatization of the Singapore powergeneration market Bond market characteristics Similarities: Project Financing and Islamic FinancingDeal snapshot: Manjung Island Energy, Malaysia Project Finance metrics Sources2. TYPICAL STRUCTURES BY SECTOR Project agreements and financing agreements Power generation Natural resources

omarket price risk: metals and mining, oiland LNG

o with feedstock: refining and petrochemicalsDeal snapshots: Icthys LNG, AustraliaNanhai Petchem, China Infrastructure

o market volume risk: road, rail, airports,ports and water

o availability risk: prisons, schools, defence,hospitals

Illustration of effectiveness of Project Finance: UK

Private Finance Initiative / Public Private Partnershipsexperience 1992 2006 versus a change of appetitesince then

Telecomso fixed line, mobile and cable

Deal snapshot: C2C, regional Leisure

o casinos, theme parks and stadia3. THE IDEAL LIFE CYCLE Inception Bidding Award Negotiate financing Due diligence Syndication Construction and operation RepaymentCase studies: Philippines BOT LawMarubeni / Tepco purchase of Mirant4. RISK MITIGATIONClass discussion: Mundra UMPP Completion of construction Revenues With Offtaker

o Market price risko Market volume risko Market price and volume risko Fuel supply and reserves risk

Operating Technical Interest rates Equity Force majeure Environmental and reputational Foreign exchange Approvals Tax and regulatory Legal Corruption PoliticalClass discussion: Sports Hub, Singapore

Agenda I


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Day TwoCase studies: North Luzon Expressway, PhilippinesAsia Container Terminal, Hong Kong5. POLITICAL RISKExercise in identification of political risk: Theun Hinbounexpansion, Laos

The risks Preemption The mitigants The players

o Multilateralso Bilateralso Private Insurers

Alternative dispute resolution Mitigation benefits and policy issuesCase studies: Lihir Gold, PNGManila airport terminal 3, Philippines6. PROJECT FINANCING CHARACTERISTICS Finance Agreements Cash flow control waterfall Ratio definitions

Flexible payback of debt Flexible returns on debt Equity considerations Project life tail Credit enhancement Lenders involvement in project Dispute resolution Default Ancillary banking products Nature of Sponsors Accounting treatment by Sponsors

Day ThreeCase studies: Hong Kong Tel CoCBK Power, Philippines7. FINANCING PLAN Sources of finance and sufficiency of funding Standby facilities Contingent equity Tax effectiveness and leasing Base Case cash flows and sensitivitiesCase study: typical road financial aspects8. GOVERNMENT AGENDA Appetite for private sector infrastructure Control of monopoly asset Credit support for State Owned Enterprises Powers of eminent domain Restrictions on foreign nationals Control of investor returns Accounting treatment by Governments Government appetite for Private Sector participationDeal snapshot: South Korea9. PROJECT FINANCE OUTCOMES Commentary Moodys re project finance loans performance 1983

2011 Political climate around AsiaDeal snapshots: Star refinery, ThailandReliance Infras Delhi airport metro,IndiaCase study: Paiton Energy, Indonesia10. CONCLUSION

The course will be held in a 4 5 star hotel, chosen for its location, facilities and service.

You can be assured of a comfortable, convenient learning environment throughout theduration of the course.

Due to the variation in delegate numbers, we will send confirmation of the venue to youapproximately 6 weeks before the start of the course.

Agenda II

Venue


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Andrews training focusses on contemporary market practice in Asia. He is able to

bring the perspective of debt, equity, host government and bilateral / multilateralagencies in these markets drawing on case studies which have both succeeded andfailed because his mainstream business is advising on:

government policy e.g. the MOF in Indonesia re its support for some $15 billion ofcapex in the power and transport sectors; also Bappenas / Ministry of Public Workson the $235 million Umbulan Springs water supply project, also in Indonesia;

investor strategy e.g. an Australian superannuation fund on how to invest in Asianinfrastructure;

raising new funds for new projects; acting in distressed situations e.g. as an expert witness in arbitrations involving the

$425 million Manila airport terminal 3 and a power plant in Cambodia.

He is regularly published in the specialist press and contributed the chapter onIndonesia to Principles of Project Finance, a 500+ page textbook published by GowerAshgate in 2012. He is a guest lecturer at Hong Kong University and Rotterdam Schoolof Managements international project.

This advice is based on 20+ years Lead Arranging and advising on project, export andstructured financings in Sydney with Westpac; in London with IBJ/Mizuho and UBS;and in Hong Kong where he ran Global Structured Finance, APAC for WestLB when it

was in the top five Lead Arrangers of Project Finance globally and where he wasresponsible for a 2.5 billion loan book and 30 professionals. He was a board memberof the only Asia - based aircraft lessor, now Bank of China Aviation. He spent 2010 atthe ADB as Head of PPP Advisory Services before returning to the private sector.

He originally worked with KPMG in London and Hong Kong then with PWC in Sydney.

He is based in Hong Kong. He first arrived there in 1982 and returned in 1998.

For more details, please visit www.logiegroup.com

TrainerANDREW KINLOCH - LOGIE GROUP LIMITEDAndrew set up as Logie Group in 2003 to offer specialist advice oninfrastructure finance in Asia.

His business includes writing and running training programmes inproject / energy / infrastructure finance for a number of public andprivate providers as well as in - house courses for, amongst others,the Asian Development Bank (ADB).


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3 easy ways to register Web: www.infrappptraining.com/ Email: [email protected] Telephone: +34 661249763

How to register

Payment Methods Credit card - Online Direct Transfer: Please quote Infrastructure Finance Asia with the remittance advise

Account Name: InfraPPP World S.L.

Bank name: ING Direct Account Number: 1900014434 Swift Code: INGDESMMXXX IBAN: ES06 1465 0120 3619 0001 4434

All bank charges to be borne by payer. Please ensure that InfraPPP World S.L. receive the full invoiced amount.

Prices

* All prices include VAT, if applicable.

Cancellation policyIf any registered delegate cannot attend our course, a replacement is always welcome. Cancellations must be made in writing (letter)with InfraPPPs acknowledgement. Written cancellations must reach this office 30 days before the programme commences. A full refund

less an administration charge of US$150 will be given. For any written cancellation requests that reach us less than 30 days before theevent, no refunds will be given.

Flights and hotel accommodation should only be purchased when our logistics team contact you to confirm the course venue. Theattendee is solely responsible for their flight and accommodation arrangements and costs. In the unlikely event InfraPPP should have tocancel an event it will not be responsible for any costs incurred by attendees. InfraPPP therefore recommends that clients purchase fullyrefundable air tickets and accommodation.

DisclaimerInfraPPP World S.L. (InfraPPP) reserves the right to alter any part of the published programme or faculty. In the event of coursecancellation by InfraPPP due to unforeseen circumstances, InfraPPP limits its liabilities to refunding the tuition fee of the course.

Fee includes tuition, documentation, lunch and refreshments. Delegates are responsible for their own flights and accommodation. Aninvoice will be sent upon receipt of registration form.

Group discounts 2 delegates: 10 % discount 3 delegates: 15 % discount 4 delegates: 20 % discount

AFTERSEPT.20THUPTOSEPT.20TH

FULLEARLYBIRD

US$2,899 US$3,299

Infrastructure Finance in Asia - Final Brochure

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