Dates                                                                                 
 
25 November 2008
23 April 2009
21 October 2009

 Course Overview

The course will provide participants with a thorough understanding of the key aspects of PPP/PFI transactions and will also provide guidance on the practical application of those aspects from the perspective of all parties involved in those transactions including: Sponsors, Financiers, Accountants, Solicitors and those employed in the various Public Sector organisations involved in PPP/PFI transaction (e.g. Health Care, Local Authorities and other governmental departments).

The topics and materials are illustrated by two real-life case studies which examine the critical aspects of these types of transactions which have been devised in conjunction with parties involved in these transactions.

Each participant will be required to bring a laptop running Microsoft Office with a USB Port to the seminar.

 Course Content

Background to PPP
History and development
Current position, future trends and developments
Rationale and objectives of PPP
Benefits and drawbacks of using PPP

Case Study: Nottingham Trent University

The three basic structures in PPP/PFI projects
BOT (Built Operate Transfer)
BOOT (Build Own Operate Transfer)
DFBO (Design Build Finance Operate)
DCMF (Design Construct Manage and Finance)
BLT (Built Lease Transfer)
BOO (Build Own Operate)
Leasing

Case Study: Scottish PP Projects

Overview of Risk and Risk Allocation
Risk evaluation and types of risk
Allocation and mitigation of risk

Case Study: IT for Magistrates’ Courts

Key Issues in PPP/PFI
Achieving design quality
Appointing and managing advisers
Appointing and working with preferred bidders
Public sector comparators (use, selection, construction and application)
Managing long-term delivery of PFI
Case Study: The UK experience with Jarvis
Sources and types of Funding
Potential financiers
Types of funding: terms and tenors (senior debt, bonds, junior debt,
   equity)

Case Study: HM Treasury Small Project Funding

Refinancing

Case Study: Norwich Hospitals NAO Study

The Credit Enhancement
The role of monocline insurance and wraps
Guarantees and other forms of credit enhancement

Case Study: European Toll Road Funding