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A very good course to get a strong knowledge and foundation in the Project Finance sector. Very useful videos!

Odysseas Eliopoulos, National Bank of Greece

The Mechanics of

PROJECT FINANCE
POST GRADUATE CERTIFICATE
DELIVERED BY DISTANCE LEARNING OVER 16 WEEKS
Commences: 17 October 2012
In partnership with Middlesex University Business school, this cutting edge course represents a new paradigm in project finance education. Comprised of six core units and two elective units (chosen from two potential elective paths) it offers participants at all levels in the project finance sector an outstanding opportunity to improve both their technical and theoretical skills.

COURSE PROGRAMME
Core Units: 1. An Introduction to Project Finance 2. Qualitative Risk Identification Analysis & Mitigation (part A) 3. Qualitative Risk Identification Analysis & Mitigation (part B) 4. Quantitative Analysis, Debt Sizing & Structuring 5. Documenting the Deal 6. Project Finance Time-Line & Project Finance Security

Choose between Elective Path A or Elective Path B:


Elective Units Path A: 1. Infrastructure Project Finance 2. PPP/PFI Project Finance Elective Units Path B: 1. Oil, Gas & Mining Project Finance 2. Conventional & Renewable Power Project Finance Here from the trainer himself: http://new.iff-training.com/VIDPFDL

SPECIAL OFFER:
For a limited time, download Unit One of the programme free before the course commences.

For further information: Tel +44 (0)20 7017 7190 Fax: +44 (0)20 7017 7802 Email: cs@iff-training.com Web: www.iff-training.com/dlprojectfinance

THE ADVANTAGES OF STUDYING BY DISTANCE LEARNING


Until now if you wanted to experience one of IFFs world leading project finance courses, you would either have to travel to London to attend one of our public programmes or your organisation would sponsor an in-company programme. Now, regardless of your geographical location, you can experience the same level of quality as our public or incompany course offers but you can study at home, in the office or even on the move. Theres also the huge savings of cost and time by not having to travel to the training location. To make your studies even more relevant and valuable, the course in now accredited by the Business School at Middlesex University at a Post Graduate Certificate level, making it the only academically recognised distance learning course on the topic of Project Finance in existence. We all face more pressure in our business lives. Finding time to attend courses can prove very difficult and well-meaning plans are too often put aside due to lack of time. If youve had to put training and personal development on the back burner owing to other commitments, this essential distance learning course is exactly what youve been waiting for. Through distance learning you can enjoy the benefits of studying, whilst minimising disruption to your existing commitments. You can set the pace at which you learn, applying the knowledge, skills and expertise gained from the materials to your work straight away. The course is accessed online, giving you the flexibility and freedom to download the content from anywhere in the world, wherever you have internet access and at a time convenient to you. You can read the units on-line, save them to your computer or print them out. At the end of each unit there is an online test for you to check your understanding and get instant feedback on your results. For those who choose to gain the Post Graduate Certificate from Middlesex University, you will be required to complete an additional 2000 word assignment based on a continuing casestudy that runs throughout the duration of the course.

The Mechanics of

PROJECT FINANCE
DELIVERED BY DISTANCE LEARNING OVER 16 WEEKS

Dear Colleague ,
What you have in your hands represents a new era in the world of project finance education. You can now choose to study the only academically accredited distance learning project finance course delivered exclusively online. Operating at an intensive level and taught by one of the worlds most respected project finance educators, it is now possible to gain a post graduate certificate from Middlesex University. And, as we know certification is important to some people but isnt to others, we now offer two routes to complete the course, the university accredited route, or the standard non-accredited route that has been enjoyed by so many of our delegates in the past. With the global appetite for project finance set to continue unabated, we set out to create the ultimate learning resource for those in the industry looking to develop their skills and knowledge and gain a formal qualification. The IFF suite of project finance courses is already recognised as being the best project finance training that money can buy and now we have taken that a step further with a brand new course delivered exclusively via distance learning. Now you can receive industry leading training at a time, pace and location that suits you. The course has been structured to enable students to grasp the complexities of modern project financing and takes you through everything from the basic concepts of the topic through to structuring the deal, contracts and the nuances of the different sectors such as oil and gas and infrastructure. The revolutionary toolkit approach allows you to soak up the practical components of the course and absorb the information at a pace that is right for you. At the end of each unit there is an assessment that will allow you to benchmark your growth in knowledge and understanding and will also show you what a tangible ROI distance learning provides. For those wishing to receive a Post Graduate Certificate an additional marked assignment of 2000 words will also need to be submitted. IFF is excited to open up this new frontier in Project Finance education and our partnership with Middlesex University makes this course even more invaluable. Interest in this course has been phenomenal already, and as a special introductory offer, we are giving you the opportunity to preview the first unit completely free of charge, giving you the chance to experience the quality of the course before signing up to the full programme. I look forward to welcoming you on the course.

Jeff Hearn General Manager The International Faculty of Finance

Well worth doing! The first four modules provided an excellent overview and summary of project finance
David Swarbrick, Balfour Beatty Capital

Tel +44 (0)20 7017 7190 Fax: +44 (0)20 7017 7802 Email: cs@iff-training.com Web: www.iff-training.com/dlprojectfinance

COURSE DIRECTOR Steve Mills


Steve Mills is a career project financier with 30 years of lending and advisory experience. Until 2007 he was the Head of the oil and gas project finance team at RBS, London. Earlier in his career he worked for HSBC and Sumitomo Bank, as well as co-founding a corporate finance boutique firm which specialised in advisory work for independent project sponsors. While still occasionally acting as a consultant, since 2008 Steve has concentrated on training in the project finance sector. He has developed and delivered a number of highly-regarded public training courses for IFF. These courses - designed for beginners and junior/intermediate team members in banks, sponsor companies, legal firms and other professions active in the project finance field have consistently received strong praise for their comprehensiveness, clarity and practical approach. Steve also teaches a seminar in project finance documentation which has been recognised by its participants as filling an important gap in training in the sector. As well as these public training courses, he has also developed and delivered tailored in-house workshops across Europe, in the Middle East and in the US for a wide range of banks, project sponsors and other companies active in limited-recourse finance. Steves courses have a strong emphasis on the underlying mechanics of project finance. Few banks or project sponsors have the time or resources to train their staff in the basic tools of the sector qualitative risk analysis, debt structuring and documentation. So training is essentially carried out on live projects. Though this can be effective, it can also be dangerous and is almost always patchy in its coverage. In his training, therefore, Steve aims to distil 30 years of real deal experience into clear, easily-understood units with a strong emphasis on the toolkit and its practical application. Trainees regularly praise the clarity and thoroughness of his presentations and, in particular, the value of his mindmaps and checklists. This distance learning course employs exactly the same approach as Steves taught courses and is a natural extension of his other training work. It has been specifically designed for professionals who cannot attend taught courses, or who prefer to train in this way, fitting their professional development into the other demands of their schedule.

SPECIAL OFFER PREVIEW UNIT ONE FREE OF CHARGE NOW


We are offering you the opportunity to preview Unit One free before comitting to the course. This unit will be yours to work through and assess. After completing unit one, should you decide not to continue with the rest of the course, there will be no further obligation.

WHO WILL BENEFIT?


The flexibility of learning in your own time and environment means you can be part of a broad range of people who will benefit from studying this course. Whether you are new to project finance or you already have experience in some aspects of the sector this course has a lot to offer. Its also designed to be of value to those working in related industries looking to understand project finance better. It will be of particular benefit to:
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WHAT MAKES THIS COURSE UNIQUE?


Aside from its distance learning format, its the modular tool-kit approach that really makes this course stand out. It will equip you with the perfect synergy between theoretical knowledge and detailed practical understanding that you can implement immediately. The modular nature allows you to grasp all the important concepts before moving onto the next section of content. The material will also prove invaluable after you have completed the course and will act as an essential reference guide in your future project finance activity. In essence, weve taken all the key benefits of our existing courses and combined them to create this unique distance learning programme. Additionally, this is the first course of its kind to be accredited by a leading UK University.

HOW IS THE COURSE STUCTURED?


The course takes place over sixteen weeks and comprises of six core units, followed by two elective pathways which you need to choose between. Every two weeks the next unit will be released and the associated assessment must be completed before the end of the course. The beauty of this form of learning is the investment of time is really up to you. You can simply read each unit, complete the assessment and move on to the next or take more time to fully digest the topic, re-read the units and read around the subject by taking full advantage of the recommended complimentary reading list. For students wishing to receive the Post Graduate Certificate, you will be required to submit a 2000 word assignment based on an on-going case study that runs throughout the duration of the course. This assignment will be independently assessed and if you meet the required pass parameters, you will be awarded a Post Graduate Certificate in Project Finance by Middlesex University.
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business development, portfolio management and credit function staff in lending banks staff in companies in the energy, mining, infrastructure and PFI/PPP sectors legal professionals with limited knowledge of limitedrecourse finance accountants serving the project finance community as advisors / auditors public sector employees from oversight / regulatory organisations insurance brokers and advisors ECA and multilateral agency staff

NEW VIDEO CONTENT


Each unit is now complimented by a 10-20 minute video by the course director, Steve Mills, taking you through the pertinent components of each unit while also explaining in more detail any areas he feels you may find tricky to grasp. With the use of graphical illustrations when required, Steve ensures that he brings you all into the classroom with him to help reinforce your knowledge and guarantee a comprehensive learning experience.

ABOUT IFF DISTANCE LEARNING


The International Faculty of Finance is one of the worlds leading specialist financial and training organisations, providing participants in the global financial markets with intensive technical training programmes designed to help them succeed on the global stage. Established in 1991 we have grown our business internationally and now deliver services in virtually every corner of the globe. Our ever expanding portfolio of two to five day courses and distance learning programmes range in complexity from introductory programmes for new market entrants through to the most complex subjects in the industry.

Tel +44 (0)20 7017 7190 Fax: +44 (0)20 7017 7802 Email: cs@iff-training.com Web: www.iff-training.com/dlprojectfinance

The Mechanics of

PROJECT FINANCE
DELIVERED BY DISTANCE LEARNING OVER 16 WEEKS

COURSE SYLLABUS
Unit 1
An Introduction to Project Finance
Unit Learning Aims and Objectives Explain the meaning of the term project finance and compare and contrast it with other forms of debt capital especially corporate borrowing. Set out the reasons why companies choose (or do not choose) to use project finance and explain the contractual structures typically employed. Contrast the risk/reward relationship with the project enjoyed by the sponsor with that of the banker and how this affects the lenders attitude to acceptance of risk. Explore the impact of the credit crisis on project financing in particular how lenders attitudes have changed.

Unit 2
Qualitative Risk Identification, Analysis & Mitigation (A)

Unit Learning Aims and Objectives Explain the key qualitative risk factors analysed by lenders when evaluating a project financing in this unit particularly sponsor risk, country/political risk, completion period issues and operation & maintenance arrangements. Explore how these risk factors are perceived by bankers, mitigated and (where necessary) allocated to other parties within or outside the project structure.

UNIT CONTENT
What is Project Finance How Does it Differ From Other Forms of Lending? Who uses Project Finance & Why?
Off-Balance-Sheet lending Project finance Carve-Outs Joint ventures/unequal partnerships Risk sharing Capital rationing/return maximisation No Choice

UNIT CONTENT
Sponsor Risk A Potential on-off Switch
Competence & track-record Management skill-sets Equity injection capacity & timing

Country/Political Risk Banks are Better at Accepting Commercial Rather Than Political Risk
What are the risks? Expropriation, confiscation & nationalisation risk Other political perils War, civil war Strike, riot & civil commotion Depreciation & non-convertibility Mitigating country / political risk Political risk insurance Export credit agencies Multilateral agencies

Key Characteristics of Project Finance - Corporate Structures & Contractual Relationships


Usually (not always) limited-liability SPV Multiple contractual relationships: Construction contractor(s) Suppliers Offtakers Operators Insurance providers Public sector government bodies & agencies

Risks of the Project Itself (Part One)


Construction/completion risk Risk areas ~ Time delay ~ Cost overrun ~ Technology ~ Risk mitigants/transfers ~ Transfer to the contractor fixed-price turnkey contracts ~ Transfer to the Sponsor pre-completion guarantees & other support mechanisms ~ Support from the Lender cost-overrun facilities Operation & Maintenance Risk Bank preference for robust long-term arrangements Alternative types of structure Key bankability features of O&M contracts

Disadvantages for Borrowers/Sponsors


Increased complexity (risk identification/mitigation/allocation) Need for third-party due diligence reports Longer time-lines Higher debt costs interest margins & fees Supervision by & reporting to lender group Tighter debt covenants and undertakings

Risk/Reward Relationships of the Players Lenders & Borrowers/Sponsors


Borrower/sponsor seeks to optimise return through NPV/IRR/WACC analysis and wide sensitivity analysis on both upside & downside Lender is not exposed to upside in business of analysing & managing/mitigating/transferring risk

The Impact of the Credit Crunch on Project Finance Markets

Tel +44 (0)20 7017 7190 Fax: +44 (0)20 7017 7802 Email: cs@iff-training.com Web: www.iff-training.com/dlprojectfinance

Unit 3
Qualitative Risk Identification, Analysis & Mitigation (B)

Unit 4
Quantitative Risk Analysis and Debt Sizing/Structuring

Unit Learning Aims and Objectives Explain the key qualitative risk factors analysed by lenders when evaluating a project financing in this unit particularly supply risk, reserve risk, sales / offtake arrangements, approvals / permits issues, environmental factors and regulatory considerations. Explore how these risk factors are perceived, mitigated and (where necessary) allocated to other parties within or outside the project structure.

Unit Learning Aims and Objectives Examine how an economic model of the projects projected cash flow is employed to structure the drawing and repayment of debt. Explain the use of Cover Ratios to size debt, structure the repayment of the financing, test the debt-servicing capacity of the project in downside scenarios and provide command and control mechanisms during the life of the financing. Analyse the impact of the debt structure on the IRR of the sponsor and how the lenders need for debtservicing security is balanced with the objectives of the sponsor.

UNIT CONTENT
Risks of the Project Itself (Part Two)
Supply risks Split into volume & price Lender likely to be anxious about uncovered volume risk Preference for send-or-pay type of structure Price risk analysed through modelling Reserve risk special type of supply risk Minerals projects have finite store of value Also real sub-surface risks & uncertainties Probabilistic vs. deterministic reserve classification/valuation Applying banking value to reserves Sales/offtake risk Split into volume & price Lender again likely to be concerned about uncovered volume risk Offtake risk mitigation: ~ Take-or-Pay contracts ~ Tolling contracts ~ Marketing agreements Approvals & permits Usually transferred to sponsor Transfer effected through conditions precedent Environmental considerations Of immense & growing importance to lenders Impact of environmentally & socially-sensitive projects on lenders Advent of Equator Principles: ~ Genesis & development ~ Structure & function ~ Impact on: Project analysis & rating Credit approval process Documentation representations & warranties, undertakings and events of default Regulatory risk Role of the regulator ensuring security of supply & avoiding abuse of monopoly Impact of the regulator/regulatory regime on: ~ Project revenue/cashflow ~ Structure/security

UNIT CONTENT
The Borrower/Sponsor Objectives:
Maximise debt Minimise/delay equity injections Maximise/accelerate distributions Avoid cash-traps

Use of Different Techniques by Borrower to Assess Project Attractiveness Cashback, NPV, IRR The Bankers Objectives Timely Debt-Service with an Adequate Cushion Debt Sizing & Sculpting
The cash flow waterfall in more detail The Lenders model its structure & function Structure of a typical debt unit Interaction with other parts of the model Primacy of the cash flow CFADS the starting point for quantitative analysis & debt sculpting Lender ratios for debt calibration & stress testing Debt to equity ratio & drawdown control ADSCR definition & use in the sculpting of mortgage-style repayment The NPV-based ratios (LLCR/PLCR) & sculpting to maintain loan-to-value Control accounts and other Cash Traps Debt-service reserve account Maintenance reserve account Cash sweeps Base case design & sensitivity running Control of input parameters technical & economic Calibrating debt & structuring the repayment methodology/profile Testing for Weakness bank sensitivity analysis Dealing with the toughest issues accept, mitigate or transfer? Getting to the optimum debt level balancing equity against bank funds

Tel +44 (0)20 7017 7190 Fax: +44 (0)20 7017 7802 Email: cs@iff-training.com Web: www.iff-training.com/dlprojectfinance

Unit 5
Documenting the Deal
Unit Learning Aims and Objectives Explain the process of documenting a project financing transaction and the components of the major documents with particular reference to the loan agreement itself. Analyse the purpose and structure of the key parts of a project loan agreement especially the control mechanisms incorporated to protect lenders in periods of weak cash flow or at the point of default. Develop an understanding of the way in which material issues are often resolved and how the credit crisis has impacted on loan documentation.

Unit 6
The Project Finance Time-Line & Project Finance Security-Taking

Unit Learning Aims and Objectives Explain in detail the process of negotiating and documenting a limited-recourse financing and the way in which the steps (and their duration) have been impacted by the Credit Crisis. Provide a clear appreciation of the different instruments typically used by lenders to acquire a first-ranking security interest in respect of the project vehicle company, fixed and current assets, project contracts and other rights.

UNIT CONTENT
The Documentation Process
The lender/borrower/counsel interface Different approaches to the term sheet Drafting for completeness with economy

UNIT CONTENT
Steps in the Project Financing Process
Pre-feasibility analysis Financial feasibility analysis using advisers Approaching lenders underwriting/best efforts; financing competitions The Banks credit process Due diligence consultants The documentation process Reaching financial close

A Recap on Syndicated Debt Terminology with Special Reference to Project Finance:


Obligors borrower & guarantor Use of and access to the funds purpose, availability & conditions precedent Loan Economics interest & fees Repayment &/or prepayment

Lender Security-Taking Objectives


Maintaining priority/defeating the pari passu principle Maintaining value Limiting dealings Negotiating strength Enforcement/disposal

The Key Command & Control Mechanisms in Project Finance Agreements


Control accounts & the cash flow Waterfall The cash flow waterfall purpose, typical priority ranking & variations Types of control account: ~ Disbursement account ~ Revenue/proceeds account ~ Compensation account ~ Debt service reserve account ~ Maintenance reserve accounts Availability & the debt: equity balance Conditions precedent Reps & warranties Covenants in particular: Debt & security limitations Reporting requirements Restrictions on amending project documents Maintenance of ratios Distribution lock-ups Events of Default in particular: Default cover ratios Default under project documents Abandonment/cessation of production

Relative Value of Different Security Types Security in Challenging Locations Key Security Instruments:
Guarantees & indemnities Bank guarantees & performance bonds Pledges Mortgages & charges Assignments Security over shares Credit balances Direct agreements

Borrower/Sponsor Needs and Hot-Buttons


Access to the loan facility Limits on operating flexibility & control Cash-traps & IRR-Killers Offences against the limited-recourse concept Pricing margins & fees

Tel +44 (0)20 7017 7190 Fax: +44 (0)20 7017 7802 Email: cs@iff-training.com Web: www.iff-training.com/dlprojectfinance

Each delegate to complete either ELECTIVE PATH A or ELECTIVE PATH B ELECTIVE PATH A TWO UNITS TO COMPLETE
Elective Unit 1
Infrastructure Project Finance
Unit Learning Aims and Objectives Set out in detail the qualitative risk analysis and debt structuring features peculiar to infrastructure project finance. Provide a clear understanding of the variations in financing structure and practice seen in key sub-sectors such as road, rail, port and airports. Test understanding through a detailed financing case study requiring risk analysis and the exercise of judgement on whether a project is bankable and (if so) optimally structured.

Elective Unit 2
PPP/PFI Project Finance
Unit Learning Aims and Objectives Set out in detail the qualitative risk analysis and debt structuring features peculiar to PPP/PFI project finance, the drivers for the establishment of the sector and the key documents which underlie PPP/PFI projects particularly the concession. Test understanding through a detailed financing case study requiring risk analysis and the exercise of judgement on whether a project is bankable and (if so) optimally structured.

UNIT CONTENT
Sector Background
History of/drivers for infrastructure project finance Contractual & legal framework Key project documents the concession & other government agreements

UNIT CONTENT
Sector Background

The Bankers Risk Analysis/Key Structuring & Pricing Drivers


Local legal issues Procurement regime Concession law Insolvency law Experience & capacity Political risk Concession risk Awarding authority Tenor Revenue basis Termination Asset ownership Security Penalty regime Construction issues in infrastructure transactions Operation & maintenance Typical risk allocations

Drivers for PPP/PFI project finance/origins of the sector Features of PPPs/contractual and legal framework PPP/PFI agreements The PPP process/public sector involvement Investor drivers contractors & financial investors Impact of credit crunch

The Bankers Risk Analysis/Key Structuring & Pricing Drivers


Local legal issues Concession risk Demand risk who takes it? Construction issues in PPP transactions Operation & maintenance Typical risk allocations

Modelling & Structuring Methodology


Base methodology Sector variants Roads Hospitals Schools Prisons Waste

Modelling & Structuring Methodology


Base methodology Sector variants Roads Rail/light rail Ports Airports

The PPP Project Finance Identikit


Key lender concerns Typical maturity profile Likely gearing/leverage levels Debt sculpting methodology Pricing Security structures

The Infrastructure Project Finance Identikit


Key lender concerns Typical maturity profile Likely gearing/leverage levels Debt sculpting methodology Pricing Security structures

Case Study

Case Study

Tel +44 (0)20 7017 7190 Fax: +44 (0)20 7017 7802 Email: cs@iff-training.com Web: www.iff-training.com/dlprojectfinance

Each delegate to complete either ELECTIVE PATH A or ELECTIVE PATH B ELECTIVE PATH B TWO UNITS TO COMPLETE
Elective Unit 1
Oil & Gas/Mining Project Finance
Unit Learning Aims and Objectives Explain the particular challenges faced by lenders providing limited-recourse finance to projects in the extractive industries, especially where the bank is to accept oil/gas/mineral reserve risk. Provide a clear understanding of the variations in financing structure and practice seen in key sub-sectors such as upstream reserve-based lending, refinery finance, pipelines and storage, LNG and petrochemicals. Test understanding through a detailed financing case study requiring risk analysis and the exercise of judgement on whether a project is bankable and (if so) optimally structured.

Elective Unit 2
Conventional & Renewable Power Project Finance
Unit Learning Aims and Objectives Set out in detail the qualitative risk analysis and debt structuring features peculiar to power project finance, the impact of the power sales arrangements on debt capacity and structure and the differences between conventional (gas and coal-fired) projects and those involving renewable energy sources. Test understanding through a detailed financing case study requiring risk analysis and the exercise of judgement on whether a project is bankable and (if so) optimally structured.

UNIT CONTENT
Sector Background
The hydrocarbon value chain upstream to downstream Petroleum geology & reserves the Bare Bones Mining reserves the Bare Bones Exploration & development licences, concessions & other agreements

UNIT CONTENT
Sector Background
How power markets work Financing power projects in emerging markets Developed/regulated markets Base-Load, Mid-Merit or Peaking? CHP/cogeneration projects Renewable energy & energy from waste

The Bankers Risk Analysis/Key Structuring & Pricing Drivers


Upstream oil & gas lending: Single-field transactions Portfolio lending Junior financing products Refinery finance Pipeline & storage finance LNG financing: Liquefaction Regasification Tanker Finance Petrochemical financing Financing the extraction & processing of other minerals

The Bankers Risk Analysis/Structuring & Pricing Drivers


Offtake Regime Power purchase agreements Tolling projects Merchant power Green certificates Feed-in tariffs Construction issues in power transactions Operation & maintenance regime Typical risk allocations

Modelling & Structuring Methodology Modelling & Structuring Methodology


Upstream oil debt structuring single & multiple fields Midstream/downstream debt structuring: Refineries LNG Petrochemicals Open cast & underground mining Power purchase agreement transactions Tolling projects Merchant power Renewable power projects Cogeneration projects

The Power Project Finance Identikit


Key lender concerns Typical maturity profile Likely gearing/leverage levels Debt sculpting methodology Pricing Security structures

The Oil & Gas and Mining Project Finance Identikit


Key lender concerns Typical maturity profile Likely gearing/leverage levels Debt sculpting methodology Pricing Security structures

Case Study Case Study

Tel +44 (0)20 7017 7190 Fax: +44 (0)20 7017 7802 Email: cs@iff-training.com Web: www.iff-training.com/dlprojectfinance

OPTION OF A POST GRADUATE CERTIFICATE WITH MIDDLESEX UNIVERSITY


We are giving you the unique opportunity to choose an accredited option for this course and receive a post graduate certificate on completion. This is a Middlesex University qualification, jointly developed by Middlesex University and IFF, and quality assured by Middlesex University. However, if accreditation isnt important to you there is still the opportunity to take the standard non-accredited course.

BENEFITS OF STUDYING FOR A POST GRADUATE CERTIFICATE WITH US A MIDDLESEX POST GRADUATE CERTIFICATE:
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What Does the Certificate Entail?


In addition to studying the eight units and passing eight short self assessment tests after each unit, you will need to submit a 2,000 word assignment at the end of the course which will be assessed. The assignment will be a cumulative project that you will work through and build upon during each stage of the course. If you wish to book on the certification course there will be an assessment fee of 300.

Is project based and practical Offers networking opportunities during and after the course Provides exceptional teaching staff Delivers applied learning experiences Combines academic rigour with individual support

Entry Requirements
Participants wishing to undertake the Post Graduate Certificate are required to have a degree or equivalent qualification (or relevant work experience). Participants wishing to undertake the course but not receive the Post Graduate Certificate are not required to have any formal qualifications.

ABOUT OUR PARTNER MIDDLESEX UNIVERSITY

HOW IS THE COURSE ACCREDITED?


This programme is validated and awarded by Middlesex University. After successfully completing your studies you will receive a post graduate certificate from Middlesex University which is duly accredited by the British Government by means of a Royal Charter. Middlesex University certificates are recognised worldwide.

QUALITY
History
Middlesex University is a large London based university with a history in higher education dating from 1878. In 1992 it was granted the Royal Charter making it a university. The university offers a broad range of courses through four academic schools of Arts and Education; Business; Engineering and Information Sciences; Health and Social Sciences and their Institute for Work Based Learning. Middlesex University has over 34,000 students studying on its courses worldwide, both at its own campuses and also with partner institutions, making it one of the largest providers of British university education to international students. Middlesex University has a long history of successful collaborations with the corporate sector. It was the first academic institution to develop industry specific MBA programmes (Shipping & Logistics and Oil & Gas) delivered 100% by distance learning.

The Quality Assurance Agency (QAA) visited Middlesex in the Spring of 2009 and noted in its report that its auditors had confidence in the Universitys current and likely future management of its academic standards and of the learning opportunities available to students.

International Reach
Middlesex University is committed to meeting the needs and ambitions of a culturally and internationally diverse range of students by providing challenging academic programmes. It has a major international business school based in London with overseas campuses in Dubai and Mauritius and a global portfolio of partnerships delivering high quality accredited programmes in business and management. Staff and students come from a wide spectrum of cultures and backgrounds with a common interest in executive education that is world class, modern and applicable. Middlesex University Business School is proud of its dedicated teachers and its rich range of learning resources including distance learning and virtual learning environments.

The university is a major provider of business and management education, with an impressive track record of working in partnership with the public and the private sector, as well as international organisations

Tel +44 (0)20 7017 7190 Fax: +44 (0)20 7017 7802 Email: cs@iff-training.com Web: www.iff-training.com/dlprojectfinance

A P P L I C AT I O N F O R M

Brilliant course for introducing project finance It was extremely relevant to my job
Eamon Marais, Gauteng Funding Agency

The Mechanics of

PROJECT FINANCE
DELIVERED BY DISTANCE LEARNING OVER 16 WEEKS

A state of the art modular guide to the world of modern project financing

Commences: 17th October 2012 (Course code FLF2366)

Click here to PREVIEW Unit 1 FREE

Click here to REGISTER for the full 16 week programme

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Copyright IIR Limited 2012. All rights reserved.
The course materials are protected by international copyright laws. The course materials are only for the use of course participants undertaking this course. Unauthorised use, distribution, reproduction or copying of the course materials in any shape or form is strictly forbidden without prior written consent of IIR Limited.

ways to contact us
1 2 3 4 5 Tel: Fax: Email: Web: Mail: +44 (0)20 7017 7190 +44 (0)20 7017 7802 cs@iff-training.com www.iff-training.com/ dl/projectfinance
Customer Service Manager International Faculty of Finance 6th Floor, 29 Bressenden Place London SW1E 5DR

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