PUBLIC PRIVATE PARTNERSHIPS & PROJECT FINANCE

for infrastructure development and service innovation

Dates

11 - 15 September 2017


Value Drivers

Infrastructure matters. It brings services to citizens and companies. It is a crucial part of economic development and growth and it offers a potential asset class for investors.
Across the world in the last thirty years, public private partnerships (PPP), project finance and private finance have played key roles in infrastructure development and service innovation.
Such arrangements have been facilitated by large-scale divestiture of national utilities. However governments, often in the circumstance of curtailed budgets, have also looked to PPPs as a means of attracting private capital into parts of the infrastructure sector in which privatization has been regarded as politically or operationally undesirable.
The infrastructure sector is now attracting considerable interest from a new range of investors, such as pension funds, life insurance companies and sovereign wealth funds, many of which are attracted to the long maturities and stable returns associated with infrastructure-related financial securities.
This program is a unique opportunity to learn the complex dynamics of PPP and project finance transactions. Such knowledge plays a key role in successful design and implementation of such complex contracts for public and private sector professionals alike.
Thanks to the strong academic background of the faculty and their professional experience, alongside the perspectives and insights of public authorities, private investors and developers across the world, this focused program allows participants to gain the understanding needed to face the challenges of PPPs and project finance.
The program’s practice-oriented nature makes it a good option not only for those who are approaching the topic for the first time but also for professionals who need to advance in their career and enhance skills developed on the field.


Participants

Executives working in:

  • Central Governments and Agencies, regional and local Authorities in charge of regulation, technical support, structuring, executing and monitoring contracts;
  • International organizations and development banks
  • Industrial operators (EPC and O&M contractors)
  • Financial investors
  • Consultants

The program is also suitable for those who are approaching the sector for the first time, with no previous experience in the field.


Contents

Framing the PPP/infrastructure policy and lobbying strategies

  • The circular economy of PPP
  • The microeconomic and macroeconomic rationale beyond PPP and private finance
  • Experience across the world

Trends in infrastructure finance & project finance

  • Infrastructure as an asset class
  • The rise of new investors
  • Public policies across the world to attract investors: credit enhancement, grants, availability payment, mezzanine financing, equity facilities

Designing the PPP contract: models and payment schemes used across the world:

  • DBF, O&M, DBFO, BOT
  • Risks and the optimal risk allocation among parties
  • How to shape the operating risks in concessions (according to EU directive 23/2014)
  • Payment mechanisms: demand based or availability based
  • Incentives and penalties
  • Defining service level agreements following a performance management approach
  • The off – balance sheet treatments

Measuring Value for Money: identify and measuring the risk

  • Structuring an unbiased VfM analysis
  • Choosing the more suitable discount rate
  • Measuring risks and social outcome

Assessing the project feasibility and bankability

  • PPP/Infrastructure project cash flow statements: how to perform a sound financial analysis
  • The optimal capital structure and cover ratios
  • Financing a deal: funding sources
  • Understanding the cost of the equity

Legal issues in PPPs and infrastructure development

  • PPP in the European Union framework
  • Legal issues in the common law and civil law jurisdictions
  • Dealing with flexible procedures in PPP/Infrastructure development
  • Unsolicited proposals

Monitoring contracts

  • Contract affordability
  • Dealing with contract renegotiation
  • Assessing the affordability of an early termination

Sectors covered in the program: healthcare and social sector; education; defence; transportation; waste management; water purification and distribution; energy and renewables; broadband; culture and heritage management; smart cities and urban facilities.


Faculty

  • Veronica Vecchi
    Professor of Public Management and Business Government Relations at SDA Bocconi, advisor to Governments, International Institutions and private operators on PPP
  • Mark Hellowell
    Senior Lecturer at Edinburgh University on business-government relations, advisor to governments, legislatures, international financial institutions and private operators involved in the PPP industry
  • Stefano Gatti
    Professor of Banking & Finance at SDA Bocconi, advisor to International Institutions, Investors and private operators on Project Finance and Infrastructure finance
  • Velia Leone
    Lawyer, SDA Bocconi external faculty, advisor to Governments, International Institutions and private operators on public procurement, PPP, infrastructure development Longer bios and selected publications and experineces

Learning Model

Leveraging faculty experience in custom executive programs and international advisory, the program is designed to provide participants the opportunity to learn from successful and critical cases selected to cover all the program’s contents and prepared in a way to facilitate and optimize the learning process.
Guest lecturers from International Institutions as well as public, private and financial sectors will be involved to expose participants to the most significant cases and experiences and to provide them with the opportunity to expand their professional network.


Enrollment procedure

Please complete the enrollment request form, available soon on this web page, and mail or fax to:
SDA Bocconi School of Management
fax +39 02 5836.6833
email: pilar.aguero@sdabocconi.it
Please see details in the enrollment form.
The final deadline for enrollment is 22 August 2017.  Enrollment requests are reviewed on a rolling basis, those received after the final deadline may not be accepted. Please see details in the enrollment form (available soon).


Participation fee

€ 4.500 + VAT (if required)


Special Payment Terms

A 10% reduction on the program fee is offered to applications sent in by 13 July 2017.

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Price:

€ 4500.00 + IVA