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Petrichtche Commodity and Project Finance July07
Petrichtche Commodity and Project Finance July07
July 2007
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Target Audience
The course is relevant for those working or planning to work in commodity
corporations or in banking (especially in structured commodity finance, project
finance, and credit and risk management). We will interchangeably look at the
financing issues from the perspectives of the borrowers and the lenders (you will get
used to the idea that one is a mirror image of the other). Please note, this is not a
course on Risk Management and Equity Valuation (although we will briefly discuss
these issues in application to commodity business, these will not be the core of this
course, and students with specific interest in those areas are urged to register for
another course).
Pre-requisites
Corporate Finance and Capital Markets are in theory pre-requisites (but I would be
flexible to admit those students who have not even completed the fundamental
courses). Familiarity with topics from Options & Futures would be helpful for some
topics we will be discussing, but not essential; we will develop what we need in class.
Instructor
The course will be taught by Andrey Petrichtche, who has more than 10 years of
experience in asset-backed, structured commodity, and project finance with top
international banks and commodity firms. In the past, Andrey worked for
Westdeutsche Landesbank, Goldman Sachs, European Bank for Reconstruction and
Development, and Anglo American (FTSE-100 mining and metals conglomerate).
Andrey is currently pursuing PhD at Insead and advising Russian and international
companies on issues of corporate financial strategy and project financing.
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Recommended Reading
Unfortunately, there is no single textbook ideally suited for this course. Below is a list
of recommended reading, which will nicely complement our discussions in class.
Lecture notes will be distributed for each class (which will be sort of “dry residual”).
Remember that the area is developing fast, and any good book is likely to be out-of-
date even before it is published. Therefore, students, who want to keep abreast of
what is happening in the market today, are encouraged to read the business press
regularly (e.g., Commodity Markets columns in FT and The Wall Street Journal).
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Summary of Course Schedule
Note: Cases marked with a (*) require a written write-up/report. When there are
two cases assigned for any session, you are expected to write only one report
(i.e. you may chose between those two), even though for class discussion you
are expected to prepare both.
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