Università Bocconi
Financing and Investing in Infrastructure
Università Bocconi

Financing and Investing in Infrastructure

Taught in English

Some content may not be translated

58,048 already enrolled

Course

Gain insight into a topic and learn the fundamentals

Stefano Gatti

Instructor: Stefano Gatti

4.8

(1,925 reviews)

10 hours to complete
3 weeks at 3 hours a week
Flexible schedule
Learn at your own pace

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Assessments

7 quizzes

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There are 7 modules in this course

Module 1 explores the nature of project finance as a nexus of contracts. We will analyze the nature of the SPV (Special Purpose Vehicle) as an empty shell and the key contracts surrounding it (project contracts and financial contracts).

What's included

9 videos5 readings1 quiz

Module 2 analyzes the relationship between the SPV and its lenders. We will start from the introduction of what a syndicate is looking at the different roles performed by banks in a syndicate and the options available to organize such a syndicate. We will also look at the cost paid by the SPV for the organization of the financing and reflect on how the recent financial crisis has reshaped the syndicated loans market.

What's included

7 videos1 reading1 quiz

Module 3 introduces the topic of risk in infrastructure financing. We will introduce a possible risk taxonomy (pre-, post-, and both pre- and post-completion risks) useful for analyzing risk as a preliminary step for its allocation to the parties best able to manage and control risk. Our final learning outcome will be the preparation of a risk matrix for an infrastructure project.

What's included

6 videos1 reading1 quiz

Module 4 introduces capital budgeting of infrastructure deals. Firstly, we will present the key elements making up the budget of the construction phase and the sources of finance used for the construction of said infrastructure. We will then move on with the analysis of the budgeting of the operational phase pointing our attention to the sources and uses of funds. Special care will be given to the analysis of the system of reserve accounts of the SPV.

What's included

7 videos1 reading1 quiz

Module 5 covers whether an infrastructure project is doable or not from the dual perspective of the shareholders and lenders. We will answer this question in the module by analyzing the criteria for measuring the profitability for project sponsors and lenders. We will also look at measurements of financial sustainability and the key role played by cover ratios in disciplining the performance of the SPV.

What's included

7 videos1 reading1 quiz

Module 6 looks at a number of subjects that share the need for creditors to protect themselves against pathological situations of the infrastructure. We will analyze the standard security package offered by the SPV to its creditors, together with an in-depth look at the system of covenants assisting the credit agreement. We will then look at the methods used to amortize a base facility in project finance.

What's included

7 videos1 reading1 quiz

Here you can find the lectures on the business cases and the final quiz

What's included

2 videos1 quiz

Instructor

Instructor ratings
4.8 (482 ratings)
Stefano Gatti
Università Bocconi
3 Courses58,138 learners

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4.8

1,925 reviews

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SJ
5

Reviewed on Aug 29, 2023

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Reviewed on Jul 7, 2017

BJ
5

Reviewed on Aug 3, 2021

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