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Financing and Investing in Infrastructure
  • Level Foundation
  • Duration 11 hours
  • Course by Università Bocconi
  • Offered by

About

Learn how debt and equity can be used to finance infrastructure investments and how investors approach infrastructure investments! According to the OECD, the global infrastructure investment requirement by 2030 for transport, electricity generation, transmission & distribution, and water & telecommunications totals to 71 trillion dollars. This figure represents about 3.5% of the annual World GDP from 2007 to 2030. The European Commission estimated, that by 2020, Europe will need between 1.5 - 2 trillion Euros in infrastructure investments. Between 2011 and 2020, about 500 billion Euros will be required for the implementation of the Trans-European Transport Network (TEN-T) program, 400 billion Euros for Energy distribution networks and smart grids, 200 billion Euros on Energy transmission networks and storage, and 500 billion Euros for the upgrade and construction of new power plants. An additional 38 - 58 billion Euros and 181 - 268 billion Euros in capital investment will be needed to achieve the targets set by the European Commission for broadband diffusion. Traditionally investments in infrastructure were financed using public sources. However, severe budget constraints and inefficient management of infrastructure by public entities have led to an increased involvement of private investors in the business. The course focuses on how private investors approach infrastructure projects from the standpoint of equity, debt, and hybrid instruments. The course concentrates on the practical aspects of project finance: the most frequently used financial techniques for infrastructure investments. The repeated use of real life examples and case studies will allow students to link the theoretical background to actual business practices. In the end of the course, students will be capable of analyzing a complex transaction, identifying the key elements of a deal, and suggesting proper solutions for deal structuring from a financial advisor's perspective. Course Format The course will consist of lecture videos, readings, and talks given by guest speakers. Although we do hope you will attend the entire course, it is possible to just focus on single topics. Suggested Readings The course is designed to be self-contained, there are no obligatory readings that must be acquired outside of the course. For students interested in additional study material, you may refer to: • Gatti Stefano, "Project Finance in theory and practice", Academic Press, 2nd edition, 2012.

Modules

INTRODUCTION

    • 1 Videos
    • 2 Readings
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1 Videos

  • Course Overview

2 Readings

  • Additional Material
  • Grading Policy

LECTURES

    • 8 Videos
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8 Videos

  • 1.1 - Project Finance and the Network of Contracts Introduction
  • 1.2 - What Is Project Finance?
  • 1.3 - Financial Contracts: Shareholder
  • 1.4 - Financial Contracts: Lenders
  • 1.5 - Metro 5 #1
  • 1.6 - Industrial Contracts
  • 1.7 - Metro 5 #2
  • 1.8 - Module 1 Takeaways

STUDY MATERIAL

    • 1 Readings
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1 Readings

  • SLIDE SET WEEK 1

REVIEW

    • 2 Readings
    • 1 Assignment
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1 Assignment

  • Project Finance and the Network of Contracts

2 Readings

  • About Quizzes - Read Carefully
  • Quiz 1 - ProjectCo Case

LECTURES

    • 7 Videos
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7 Videos

  • 2.1 - Syndicate Introduction
  • 2.2 - What Is a Syndicate?
  • 2.3 - What Roles Do Banks Perform?
  • 2.4 - Which Syndication Strategy Can Be Used?
  • 2.5 - How Much Does the Customer Pay?
  • 2.6 - How Has the Financial Crisis Reshaped the Market?
  • 2.7 - Takeaways

STUDY MATERIAL

    • 1 Readings
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1 Readings

  • SLIDE SET WEEK 2

REVIEW

    • 1 Assignment
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1 Assignment

  • Syndicate

LECTURES

    • 6 Videos
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6 Videos

  • 3.1 - Introduction - The Need of Risk Management
  • 3.2 - Risk Taxonomy
  • 3.3 - Pre-Completion Risks
  • 3.4 - Post-Completion Risks
  • 3.5 - Risks Common to Both Phases
  • 3.6 - The Risk Matrix and Takeaways

STUDY MATERIAL

    • 1 Readings
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1 Readings

  • SLIDE SET WEEK 3

REVIEW

    • 1 Assignment
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1 Assignment

  • Risk Analysis

LECTURES

    • 7 Videos
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7 Videos

  • 4.1 - Project Finance and the Set up of Capital Budgeting
  • 4.2 - Setting Up The Construction Phase Budget
  • 4.3 - How to Finance Construction
  • 4.4 - Exercise #1: Construction Phase Budgeting
  • 4.5 - Setting up the Operational Phase Budget
  • 4.6 - Exercise #2: Operational Phase Budgeting
  • 4.7 - Takeaways

STUDY MATERIAL

    • 1 Readings
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1 Readings

  • SLIDE SET WEEK 4

REVIEW

    • 1 Assignment
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1 Assignment

  • Capital Budgeting

LECTURES

    • 7 Videos
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7 Videos

  • 5.1 - Introduction
  • 5.2 - Profitability for Shareholders
  • 5.3 - Profitability for Creditors
  • 5.4 - From Profitability to Financial Sustainability
  • 5.5 - Cover Ratios
  • 5.6 - Cover Ratio Calculation
  • 5.7 - Takeaways

STUDY MATERIAL

    • 1 Readings
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1 Readings

  • SLIDE SET WEEK 5

REVIEW

    • 1 Assignment
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1 Assignment

  • The Financial Sustainability of an Infrastructure Project

LECTURES

    • 7 Videos
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7 Videos

  • 6.1 - Introduction
  • 6.2 - Security Package
  • 6.3 - Covenants of the Credit Agreement
  • 6.4 - How to Use Cover Ratios to Monitor the Borrower
  • 6.5 - Loan Amortization Methods
  • 6.6 - Application of Different Amortization Methods
  • 6.7 - Takeaways

STUDY MATERIAL

    • 1 Readings
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1 Readings

  • SLIDE SET WEEK 6

REVIEW

    • 1 Assignment
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1 Assignment

  • How Can Creditors Protect Themselves?

ADDITIONAL VIDEOS

    • 2 Videos
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2 Videos

  • 7.1 - CASE STUDY: Bonollo Energia
  • 7.2 - CASE STUDY: Port De Paita

FINAL REVIEW

    • 1 Assignment
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1 Assignment

  • Final

Auto Summary

"Financing and Investing in Infrastructure" is a foundational course in Business & Management, led by expert instructors on Coursera. It delves into the use of debt and equity to fund infrastructure projects, emphasizing private investment strategies. The course covers practical project finance techniques, supported by real-life examples and case studies. Learners will gain the skills to analyze complex transactions and structure deals effectively. The content includes lecture videos, readings, and guest talks, with no mandatory external readings. The course spans approximately 660 minutes and offers a starter subscription, making it ideal for beginners interested in infrastructure finance.

Stefano Gatti
Instructor

Stefano Gatti