Wondershare EdrawMind
MindMap Gallery Engineering project financing
- 15
Engineering project financing
Engineering project financing mind map, the project company starts from its own operating status and capital utilization, and makes scientific predictions and decisions based on the company's future business strategy and development needs.
Edited at 2019-01-05 14:38:06
- bacteria
This is a mind map about bacteria, and its main contents include: overview, morphology, types, structure, reproduction, distribution, application, and expansion. The summary is comprehensive and meticulous, suitable as review materials.
- Plant asexual reproduction
This is a mind map about plant asexual reproduction, and its main contents include: concept, spore reproduction, vegetative reproduction, tissue culture, and buds. The summary is comprehensive and meticulous, suitable as review materials.
- Reproductive development of animals
This is a mind map about the reproductive development of animals, and its main contents include: insects, frogs, birds, sexual reproduction, and asexual reproduction. The summary is comprehensive and meticulous, suitable as review materials.
Engineering project financing
- bacteria
This is a mind map about bacteria, and its main contents include: overview, morphology, types, structure, reproduction, distribution, application, and expansion. The summary is comprehensive and meticulous, suitable as review materials.
- Plant asexual reproduction
This is a mind map about plant asexual reproduction, and its main contents include: concept, spore reproduction, vegetative reproduction, tissue culture, and buds. The summary is comprehensive and meticulous, suitable as review materials.
- Reproductive development of animals
This is a mind map about the reproductive development of animals, and its main contents include: insects, frogs, birds, sexual reproduction, and asexual reproduction. The summary is comprehensive and meticulous, suitable as review materials.
- Recommended to you
- Outline
Engineering project financing
6. Capital cost and Funding structure
1. Capital cost
1. Overview of capital costs
(1) The concept of capital cost
1. Fund raising fee
2. Fund occupation fee
(2) The role of capital costs
1. Capital cost is an important basis for project financing decisions
2. Capital cost is the main indicator for evaluating investment decisions.
3. Capital cost is an important measure of performance
(3) Calculation of capital costs
2. Individual capital costs
(1) Bank borrowing capital cost
(2) Bond capital cost
(3) Capital cost of preferred shares
(4) Capital cost of common shares
1. Capital asset pricing model
2. Dividend growth model
3. Bond return risk adjustment model
(5) Capital cost of retained earnings
(6) Capital cost of financial leasing
3. Comprehensive capital cost
5. Marginal cost of capital
(1) Cut-off point for calculating total financing amount
(2) Calculate the marginal cost of capital for each range of total financing
2. Leverage principle
1. Operating leverage
(1) Operating leverage effect
(2) Operating leverage coefficient and its calculation
2. Financial leverage
(1) Financial leverage effect
(2) Financial leverage coefficient and its calculation
3. Comprehensive leverage
(1) Comprehensive leverage effect
(2) Comprehensive leverage coefficient and its calculation
3. Project Funding Structure and its optimization
1. The concept of capital structure
2. Factors affecting capital structure
(1), expected sales level
(2) Asset structure
(3) Business risks
(4) Debt ability
(5) Control of the project
(6) Attitude of the project manager
(7) Attitudes of lenders and credit rating agencies
(8), other factors
3. Optimal capital structure
4. Determining the optimal capital structure
(1) Comparative capital cost method
(2) Indifference point method of profit after tax per share
7. Basic mode
1. Design
1. Basic principles of project financing model design
(1) Principle of limited recourse
(2) Principles of reasonable sharing of project risks
2. Common problems in project financing model design
(1) Investors’ full financing expectations
(2) Off-balance sheet financing requirements of investors
(3) Handle the relationship between financing and the market well
(4) Coordination of recent financing and forward financing
(5) Tax planning and financing costs
3. Basic structural characteristics of project financing models
(1) Loan form
(2) Credit guarantee
(3) Loan issuance
2. Basic mode
1. Direct Financing Model
(1) Meaning
(2) Advantages
(1) It is relatively flexible to choose financing structure and financing methods
(2) The debt ratio arrangement is relatively flexible
(3) Ability to flexibly utilize the sponsor’s reputation in the business community
(4), can reduce financing costs to a certain extent
(3) Disadvantages
(4) How to operate
1. Centralized form
2. Decentralized form
(5) Scope of application
2. Project Company Financing Model
(1) Single project subsidiary form
(2) Form of joint venture project company
(3) Characteristics of the project company’s financing model
(4) Variations on the basic financing model of project companies
3. Classic mode
1. Facility usage agreement model
(1) Concept and scope of application
1. Concept
2. Scope of application
(2) Operation method
(1) Sign a "Facility Use Agreement"
(2) Establish a project management company
(3) Public bidding to select project engineering companies
(4) Construct a credit guarantee framework for project financing
(3) Main features
2. Product payment agreement model
(1) Concept and scope of application
(2) Characteristics
1. Unique credit guarantee structure
2. Financing from lending banks can easily be arranged in the form of wireless recourse or limited recourse.
3. The financing period for product payment should generally be shorter than the expected economic production period of the project.
4. Loan banks in product payment generally only provide financing for project construction and capital costs.
5. Establish a special financing intermediary agency—the project company
(3) Operation process
(4) Another way of product payment agreement-production loan
3. Leveraged lease financing model
(1) The meaning of leveraged leasing
(2) Advantages of leveraged lease financing model
(1) The project company still has control over the project
(2) Achieve 100% financing requirements
(3) Lower financing model cost
(4) Enjoy the benefits of pre-tax leasing
(3) The complexity of the leveraged lease financing model
1. Complexity of structural design
2. There are more participants in the leveraged lease financing model than in other financing models.
(1) Debt participants
(2) Project asset lessee
(3) Leverage leasing managers
3. In actual operation, the management of the financing structure of leveraged leasing projects is more complicated than other project financing models.
(4) The operation process of leverage leasing financing model
(5) Characteristics of leveraged lease financing model
(1) The financing model is relatively complex
(2) Debt repayment is more flexible
(3) Leveraged lease financing has a wide range of applications
8. Typical model
1. BOT mode
1. The origin of the BOT project financing model
2. The connotation of BOT project financing model
(1) Definition
(2) Characteristics
(3) Functions of BOT mode
(1) Functional financing
(2), construction function
(3), business functions
(4) Transfer function
3. Advantages and disadvantages of BOT model
(1) Advantages of BOT model
(1) Utilization of funds
(2) Risk transfer
(3) Project operation efficiency
(4), technical and management level
(2) Disadvantages of the BOT model
4. Participants in the BOT model
(1) Project sponsor
(2) Product buyers or service recipients
(3) Creditors
(4) Construction sponsors
(5) Insurance companies
(6) Equipment and material suppliers
(7) Operator
(8) Government
5. Risk sharing in the operation mode of BOT model
6. Execution program of BOT mode
(1) Project establishment stage
(2) Bidding stage
(3) Bidding stage
(4) Negotiation stage
(5) Contract performance stage
7. Risks of BOT model
(1) Political risk
(2) Market risk
(3) Technical risks
(4) Financing risks
8. Risk response measures of BOT model
2. BOT mode of derived mode
1. BT mode
(1) Background of the BT model
(2) Development status of BT model
(3) Basis of BT model
(4) The significance of BT model
(5) The subject in BT magic
(1) Project owner
(2), BT investment and construction party
(3) Loan banks or other relevant units
(6) Operation process of BT mode
(1). Project determination stage
(2) Preparation stage of the project
(3) The contract determination stage of the project
(4) Construction stage of the project
(5) Project handover stage
(7) Characteristics of BE model
(8) Risks and avoidance of models
2. BOOT mode
3. BOO mode
4. TOT mode
(1) Operating procedures of TOT mode
(1) Formulate a TOT plan and submit it for approval
(2) The project sponsor establishes SPV or SPC
(3) TOT project bidding
(4) The transferor uses the funds obtained
(5) New projects are put into use
(7) After the project expires, the transferred project will be recovered
(2) Advantages of TOT model
(1) Comparison with TOT project financing model
(2) Compared with borrowing from banks and other financial institutions
(3) Comparison with joint venture and cooperative financing methods
(4) Comparison with internal contracting or physical lease financing methods
(5) Comparison with financial leasing model
(6) Compared with road hatchbacks or other land development rights as compensation methods
(3) The impact of the TOT model
(4) Issues that should be paid attention to when implementing the TOT model
(1) Pay attention to the benefits of new projects
(2) Pay attention to the price of transferred infrastructure
(3) Strengthen the evaluation of state-owned assets
(4) The maintenance and transformation content of the project for which the operating rights are transferred should be clearly defined
(5) Further improve the legal environment for investment in the TOT model
3. PFI mode
1. History of PFI
2. Characteristics of PFI
(1). Single project theme
(2) Development of project management methods
(3) Implement a comprehensive agency system
(4) Flexible handling of project operation rights after the contract expires
3. Types of PFI
1. Providing services to the public sector
2. Fee-based independent type
(3) Joint venture type
4. The difference between PFI and traditional financing models
5. Basic structure of PFI project
1. Project Agreement
2. Construction contract
3. Operation and maintenance subcontracting agreement
4. Other professional subcontracts
5. Incidental guarantee or direct agreement with the contractor
6. Application and innovation of PFI project financing model in urban infrastructure
4. ABS mode
1. Characteristics of ABS
2. The operation process of ABS
3. Advantages of ABS
(1) Attractive income
(2), higher credit rating
(3) Diversification and diversification of investment
(4) Predictable cash flow
(5). Small event risk
4. Comparison between ABS mode and BOT mode
1. Differences in complicated and simplified operating procedures and financing costs
2. Differences in investment risks
3. Differences in project ownership and operation rights
4. Differences in project funding sources
5. Differences in scope of application
5. Development Prospects of ABS Model
5. PPP model
1. Definition of PPP model
2. Main connotations of the PPP model
3. Advantages of PPP model
(1) Eliminate cost overruns
(2) Conducive to transforming government functions and reducing financial burdens
(3) Promote the diversification of investment entities
(4) Government departments and the private sector can learn from each other’s strengths and offset their weaknesses.
(5) Integrate all parties involved in the project to form a strategic alliance
(6) Reasonable risk allocation
(7), wide range of applications
4. Structural characteristics of the PPP model
PP
(1) Common points between BOT model and PPP model
(2) The difference between BOT model and PPP model
1. Different organizational settings
2. Different operating procedures
6. Comparison of the applicability of PPPT and BO financing models
7. Practical application of PPP model
5. Method
1. Capital structure
1. Definition of the concept of capital structure of project financing
2. Selection of the ratio of equity capital to debt capital
1. Funding requirements
2. Investors’ judgment on project cash flow and risks
3. Investors’ ability to raise equity capital
4. Capital supply and demand and competition in the capital market
5. Lending bank’s ability to bear risks
3. Selection of sources of equity capital
1. Availability from various sources
2. Judgment of capital cost
3. Requirements of the lending bank
4. Selection of sources of debt funds
1. Availability from various sources
2.Interest rate comparison
3. Fund usage period
2. Debt market Financing
1. Overview of Bond Financing
(1) Definition of bond financing
(2) Basic elements of bonds
1. Bond face value
2. Bond issue price
3. Bond repayment period
4. Bond coupon rate
(3) Types of bonds
1. Classification by issuing entity
(1) Government bonds
(2), local bonds
(3) Financial bonds
(4) Corporate bonds
(5), project bonds
2. Classification according to the length of repayment period
3. Classification according to whether the bond face value is registered or not
4. Classification according to whether the bonds are mortgaged or guaranteed
5. Classification according to whether you can participate in company dividends
6. Classification by method of raising
7. Classification by investor’s income
8. Other bond types
(1) Repayment of bonds in installments
(2) One-time principal repayment bonds
(3), Annuity bonds
(4) Notification bonds
(5) Repayment of capital bonds
(6) Convertible corporate bonds
(4) Characteristics of bonds
1. Repayment
2. Liquidity
3. Security
(1) Credit risk
(2) Market risk
4.Profitability
(1) Interest income
(2) The difference and loss between the purchase price and the repayment price
(3) Income from interest reinvestment
(5) Advantages and Disadvantages of Bond Investment
1. Advantages of bond financing
(1), lower capital cost
(2) Guarantee control rights
(3) Can exert financial leverage
2. Disadvantages of bond financing
(1) High financing risk
(2) Many restrictions
(3). Financing amount is limited
2. Bond issuance conditions
(1) Legal conditions for issuing bonds
(2) Objective conditions for issuing bonds
1. Constraints on the social environment of bond issuance
(1) Influence of political and economic situation
(2) Huge amount of social hot money provides guarantee
(3) The emergence of new credit forms and financial products provides the possibility for bond issuance
(4) Constraints of financial and taxation policies
2. Continuously strengthening public financial awareness
3. Bond issuance procedures
(1) Preparation for bond issuance
1. Credit rating of bonds
2. Set up a special team to familiarize yourself with and master the work that must be done
3. Comprehensive research and formulation of necessary written information regarding bond issuance
4. Conduct comprehensive research on the bond market
(2) Application for bond issuance
1. Application for bond issuance
2. Documents required when applying for bond issuance
(3) Review of bond issuance
(4) Issuance of bonds
1. Determination of issuance form and issuance price
2. Decisions on bond issuance
(1) Decision on issuance amount
(2) Decision-making of bond interest rates
(3) Decision on bond issuance period
(4) Decision on issuance method
4. Issue price
(1) Bond price
(2) Factors affecting bond issuance prices
1. Face value of the bond
2. Coupon interest rate
3. Market interest rate
4. Interest calculation method
5. Discount method
(1) Simple interest and compound interest
(2), discount interest rate
5. Repayment of Bonds
(1) Repayment time of bonds
1. Early repayment
2. Repay in installments
3. One-time repayment
(2) Repayment form of bonds
1. Use cash to repay bonds
2. Exchange old bonds with new bonds
3. Use common stock to repay bonds
(3) Relevant provisions on bond repayment
3. Stock market Financing
1. The meaning of stocks
2. Classification of stocks
1. Classification based on the rights and obligations of shareholders
2. Classification according to whether the face value of the stock is registered or not
3. Classification based on face value of stocks
4. Classified by issuance objects and listing regions
3. Issuance of shares
1. Purpose of stock issuance
(1) Establishing a new joint-stock company
(2) Expand business scale
(3), other purposes
2. Conditions for stock issuance
3. Basic procedures for stock issuance
4. Listing of stocks
1. Conditions for stock listing
2. Direct listing financing and indirect listing financing of stocks
3. Suspension and termination of stock listing
5. Common stock financing
(1) The concept of common shares
(2) Rights of ordinary shareholders
(3) Advantages and disadvantages of common stock financing
1. Advantages of common stock financing
(1) There is no fixed interest burden
(2) There is no fixed expiration date
(3) Low financing risk
(4), can enhance the company’s credibility
(5) Few financing restrictions
2. Disadvantages of common stock financing
(1) High capital costs
(2) Easily disperse control rights
6. Preferred stock financing
(1) The concept of preference shares
(2) Nature of preference shares
(3) Advantages and disadvantages of preferred shares
1. Advantages of preferred stock financing
(1) The financial burden is lighter than issuing bonds
(2) Financially flexible
(3) Maintain common shareholders’ control over the company
(4) Conducive to enhancing the company’s credibility
2. Disadvantages of preferred stock financing
(1) High financing costs
(2) Many financing restrictions
(3) Heavy financial burden
4. Syndicated loans
1. Overview of syndicated loans
1. Direct syndicated loan
2. Indirect syndicated loans
2. Syndicate composition and division of labor
1. Leading Bank
2. Agent bank
3. Participate in the trip
3. Characteristics of syndicated loans
1. Ability to raise huge amounts of funds
2. There is a wide choice of loan currencies
3. Ability to spread risks
4. Withdrawal and repayment methods are flexible
4. Interest rates and fees for syndicated loans
1. Syndicated loan interest rate
2. Syndicated loan charges
3. Other expenses
5. Syndicated loan term and repayment method
1. Repay once upon maturity
2. Repay in installments
6. Main terms and texts of the syndicated loan agreement
5. Financial leasing
1. The concept of financial leasing
2. Forms of financial leasing
1. After-sales leasing
2. Direct leasing
3. Leverage leasing
3. Characteristics of financial leasing
4. Risks of financial leasing
1. Product market risk
2. Financial risks
3. Trade risks
4. Technical risks
5. General operating procedures for financial leasing business
1. Lease application
2. Acceptance of leasing business
3. Review of leasing projects
6. Determination method of finance lease rent
1. Composition of finance lease rent
2. Calculation of finance lease rent
(1) Calculation method of floating interest rate
(2) Equal-amount annuity method
7. Advantages and Disadvantages of Financial Leasing Financing
1. Advantages of financing leasing
(1) Fast fundraising speed
(2) Few restrictions
(3) The risk of equipment obsolescence is small
(4) Reduction of tax burden
(5) Low tax risk
2. Disadvantages of financial leasing financing
4. Investment structure
I. Overview
1. The meaning of project investment structure
2. Factors affecting project investment structure
(1) Project risk sharing and project debt isolation requirements
(2) Supplementary capital injection flexibility requirements
(3) Requirements for the degree of utilization of tax incentives
(4) Requirements for financial processing methods
(5) Product distribution form and difficulty of profit extraction
(6) Convenience of financing
(7) Flexibility of investment transfer
(8) Decision-making methods and procedures of project management
2. Corporate system investment model
1. How the corporate investment structure operates
2. Advantages of corporate investment structure
(1) The shareholders of the company bear limited liability
(2) Financing arrangements are relatively easy
(3) Investment transfer is relatively easy
(4) The relationship between shareholders is clear
(5) Non-company liability financing structures can be arranged
3. Disadvantages of corporate investment structure
4. Variation of corporate investment structure
3. Partnership investment model
1. Basic concepts of general partnership investment structure
2. Limited partnership investment structure
(1) Meaning
(2) Advantages of limited partnership investment structure
(1) Simple procedures
(2) To a certain extent, it avoids the joint liability problems of general partnership
(4) Tax arrangements are relatively flexible
(3) Application of limited partnership investment structure in project financing
4. Non-corporate investment structure
1. The operation and characteristics of non-corporate investment structures
(1) How the non-corporate investment structure operates
(2) Main characteristics of non-corporate investment structures
2. Advantages of non-corporate investment structures
(1) Investors bear limited liability in the investment structure
(2) Flexible tax arrangements
(3) Financing arrangements are relatively flexible
3. Disadvantages of non-corporate investment structures
(1) Uncertainty factors in structural design
(2) The investment transfer procedure is complicated
(3) The management procedures are relatively complex
5. Trust funds structure
1. Components of the trust fund structure
(1) Trust contract
(2) Trust fund trustee
(3) Trust unit holders
(4) Trust fund manager
2. Advantages and Disadvantages of Trust Fund Structure
(1) Advantages of trust fund structure
(1), limited liability
(2) Comparison of financing arrangements
(3) It is relatively easy to control project cash flow
(2) Disadvantages of the trust fund structure
(1) Low flexibility in tax structure
3. Application examples of trust fund structure
6. In the investment agreement main terms
1. Business scope of investment projects
2. Initial investment injection form terms
3. Uncertain Capital Supplementary Terms
4. Investors’ rights and interests in investment projects
5. Project management and control terms
6. Project Budget Approval Process
7. Terms of handling of breach of contract
(1) Dilution of the rights and interests of the defaulting party
(2) Confiscation of the rights and interests of the defaulting party
(3) The non-defaulting party’s right to take over the defaulting party’s responsibilities
(4) The non-defaulting party’s right to deal with the defaulting party’s products
(6) Partial equity losses of the defaulting party
(7) Punitive interest
8. Financing Arrangement Terms
9. Right of first refusal clause
10. Terms and Conditions for Dealing with Project Decision-Making Impasses
3. Feasibility of the project and Bankability analysis
1. Project feasibility study
1. Development of feasibility studies
(1) Development of feasibility studies abroad
(2) The development of feasibility studies in my country
2. Stage division of feasibility study
(1) Investment opportunity research stage
(2) Preliminary feasibility study stage
(3) Detailed feasibility study stage
(4) Evaluation and decision-making stage
3. The role of project feasibility study
(1) As the basis for establishing project construction
(2) As a basis for raising funds for project construction
(3) As a basis for preparing design documents
(4) As a basis for applying to the local government and environmental protection department for the start of construction procedures
(5) As a basis for supplementing basic information for project construction
(6) As a basis for signing contracts or agreements between the proposed project and relevant collaborative units
(7) As a basis for the development plan of new technologies and new equipment
(8) As a basis for post-project evaluation
4. Steps of Feasibility Study
(1) Accept the commission
(3) Plan selection and optimization
(4) Financial evaluation and Overview
(5) Preparation feasibility study report
5. Preparation of feasibility study report requirements and content
(1) Requirements for preparing feasibility study reports
1. Objectivity and impartiality
2. Content and format specification
3. Requirements of report preparation unit Have basic qualifications
(2) Contents of the feasibility study report
1. Overview
2. Market demand forecast and proposed scale
3. Supply of main resources and raw materials required for the project
4. Infrastructure conditions
5. Project location plan
2. Financial benefits and cost estimation
(1) Basic financial evaluation data and participation selection
1. Financial price
(1), fixed price
(2), changing prices
2. Taxes
3. Interest rate
4. Exchange rate
5. Project Calculation period
6. Production load
7. Financial benchmark rate of return set up
(2) Estimation of sales revenue and costs
1. Sales revenue estimation
2. Cost estimate
(1) Total cost estimate
①Production cost plus period cost estimation method
②Production factor estimation method
(2) Operating cost estimation
(3), fixed costs and Variable cost estimates
(4) Preparation costs Estimate sheet
6. Technical solutions
7. Environmental protection
8. Project investment financing
9. Project financial analysis and national economic analysis
10. Project investment risks
11. Project implementation plan and organization management
12. Conclusion
2. Project Finance evaluate
1. Concept, content and steps of financial evaluation
(1) The concept of financial evaluation
(2) Contents of financial evaluation
(3) Steps of financial evaluation
3. Project profitability analysis
(1) Profitability analysis report
1. Cash flow statement
(1) Project investment cash flow statement
(2) Capital financial cash flow statement
(3) Financial cash flow statements of all investors
2. Project total investment use plan and fund raising table
3. Profit and profit distribution statement
(2) Profitability analysis indicators
1. Financial internal rate of return
(1). Project financial internal rate of return
(2) Internal rate of return on capital
(3) Internal rate of return of all investors
2. Financial net present value
3. Investment recovery period
4. Investment profit rate
5. Net profit rate of project capital
4. Debt solvency analysis
(1) Solvency analysis report
1. Fund source and application table
2. Loan principal and interest payment schedule
3. Balance sheet
(2) Solvency analysis indicators
1. Loan repayment period
2. Interest reserve ratio
3. Debt service reserve ratio
4. Asset-liability ratio
5. Financial Viability Analysis
(1) Financial plan cash flow statement
1. Analyze whether there is sufficient net cash flow to maintain normal operations
2. It is a necessary condition for financial sustainability that the accumulated surplus funds in each year do not have a negative value.
(2) Issues that should be paid attention to in financial viability analysis
6. Uncertainty Analysis
(1) Break-even analysis
(2) Sensitivity analysis
1. Steps of single-factor sensitivity analysis
(1) Determine sensitivity analysis indicators
(2) Select the uncertain factors that need to be analyzed
(3) Set the variation range of uncertain factors
(4) Determine sensitivity factors
2. Sensitivity analysis method
(1) Relative determination method
(2), absolute determination method
3. National Economy evaluate
1. The necessity of national economic evaluation
2. The relationship between national economic evaluation and financial evaluation
1. Similarities
(1), the evaluation method is the same
(2) The basic work of evaluation is the same
2. Differences
(1) Different perspectives of evaluation
(2) The meaning and division range of costs and benefits are different
(3) Different price systems adopted
(4) The parameters used are different
(5) The content of the evaluation is different
(6) Different uncertainty analysis methods applied
3. Identification of national economic benefits and costs
1. Direct benefits and direct costs
2. Indirect benefits and indirect costs
3. Transfer payment
(1) National and local government taxes
(2) Domestic bank loan interest
(3) Subsidies provided by national and local governments for projects
4. Shadow price
1. Shadow price of market-priced goods
(1) Shadow prices of foreign trade goods
(2) Shadow prices of non-foreign trade goods
2. Shadow prices of goods controlled by the government
(1) Electricity price serves as the shadow price of government inputs
(2) Railway freight rate serves as the shadow price of project inputs
(3) Water price serves as the shadow price of project inputs
3. Shadow prices of special inputs
(1), shadow wages
(2) Land shadow price
(3) Shadow price of natural resources
5. Preparation of national economic evaluation reports
1. Prepare the national economic benefit cost flow statement based on financial evaluation
(1) Eliminate transfer payments
(2) Calculate external benefits and external costs
(3) Adjust construction investment
(4) Adjust working capital
(5) Adjust operating expenses
(6) Adjust the foreign exchange value
2. Directly prepare the national economic benefit cost flow statement
6. Calculation of national economic evaluation indicators
1. Economic internal rate of return
2. Economic net present value
7. National Economic Evaluation Parameters
1. Social discount rate
2. Shadow exchange rate
3. Shadow wages
4. Project Bankability analysis
1. The connotation of project bankability
(1) Strikes or other industrial actions
(2) War or other armed struggle
(3) Blockade or embargo leading to interruption of supply or transportation
(4) Unfavorable natural phenomena
(5), epidemic
(6), radiation and chemical pollution, etc.
(7) Changes in laws and regulations
(8) Events that are temporarily beyond the control of others, etc.
2. Application of “Exemption Treaty”
(1) Restrictions on various authorization contracts
(2) Restrictions on shareholders’ agreements and distribution of owners’ equity
(3) Restrictions on franchise agreements
(4) Restrictions on construction contracts
(5) Restrictions on operation and maintenance contracts
1. The connotation of project bankability
2. Application of “Disclaimer Clause”
(1) Strikes or other industrial actions
(2) War or other armed struggle
(3) Blockade or embargo leading to interruption of supply or transportation
(4) Unfavorable natural phenomena
(5), epidemic
(6), radiation and chemical pollution, etc.
(7) Changes in laws and regulations
(8) Events that are temporarily beyond the control of others, etc.
3. Necessary conditions for project bankability
(1) Restrictions on various authorization contracts
(2) Restrictions on shareholders’ agreements and distribution of owners’ equity
(3) Restrictions on franchise agreements
(4) Restrictions on construction contracts
(5) Restrictions on operation and maintenance contracts
2. Organizational structure
1. Organizational form
1. Participants in project financing
1. Project organizer
2. Project company
3. Borrower
4. Loan bank
5. Contractor
6. Suppliers
7. off-takers
8. Guarantee trustee
9. Insurance company
10. Financial consultant
11. Expert
12. Lawyer
13. International financial institutions
14. Host country government
2. Organizational form of project financing
1. Financing of new project legal entities
2. Legal person financing of existing projects
2. Operation process
1. Preparation of project proposals
1. Project owner
2. Pre-investment research
3. Preliminary planning and negotiation
4. Research projects Preliminary Terms and Conditions
2. Sign a project memorandum of understanding
3. Signing a franchise agreement or intention
4. Project Arrangement and Organization
5. Project construction stage
6. Project operation stage
7. Facility handover stage
3. Implementation procedures
1. Investment decision-making stage
2. Financing decision-making stage
3. Financing structure analysis stage
4. Financing negotiation stage
5. Execution stage
4. Structural model
1. Project investment structure
2. Project financing structure
3. Project funding structure
4. Project credit guarantee structure
5. Source of funds
1. Own funds and equity capital raising
(1) Raising self-owned funds for company financing
(2) Equity capital raising for project financing
1. Structural design of the project
(1) Asset and liability structure
(2) Equity structure
2. Sources of equity capital
3. Form of investment in equity capital
4. Arrangement and investment of equity capital
(3) Financing costs of equity capital
2. Debt financing
(1) Sources of debt funds
1. Domestic sources of debt funds
(1), bank loan
(2) Bond financing
(3) Trust investment company loan
(4) Lease financing
2. Foreign sources of debt funds
(1), International trade medium and long-term export loans
1), seller’s credit
2), buyer’s credit
3), mixed loans
(2) Government loans
(3) World Bank Group loan
1), International Bank for Reconstruction and Development
2), International Development Association
3), International Finance Corporation
(4), Asian Development Bank loan
1), hard loan
2), soft loan
3), joint financing
3. International project financing
(2) Analysis of debt funds Main points
1. Basic elements of debt funds
(1), time and quantity
(2) Investigation and research
(2) Financing costs
(3) Payment of interest during the construction period
(4) Additional conditions
(5) Responsibility for using foreign debt
2. Debt guarantee
I. Overview
1. Overview
1. Definition
1. Non-recourse project financing
2. Project financing with limited recourse
2. Traditional loans and Comparison of financing methods
2. Characteristics
1. Project financing feature
1. Project orientation
2. Limited recourse
3. Risk sharing
4. Non-corporate debt financing
5. Diversification of credit structure
6. High financing costs
7. Able to take advantage of tax structure
2. Project financing Disadvantages
1. The complexity of risk allocation
2. Increased risks for lenders
3. Excessive supervision by lenders
4. Higher interest and fee burdens
3. Scope of application
1. Strong financing ability, able to solve financing problems of large-scale engineering projects more effectively
2. Financing methods are flexible and diverse, which can reduce the financial burden of the government
3. Realizing project risk dispersion and risk isolation can improve the possibility of project success.
4. Origin and development
1. Reasons for the rise of project financing
1. Acquisition of funds
2. Accounting treatment “off balance sheet”
3. Risk sharing
4. Tax benefits
5. Borrowing restrictions
2. Development of modern project financing
1. Project financing before the 1980s was mainly used in resource development projects
2. Project financing after the 1980s developed towards the infrastructure field
3. Project financing gradually develops into multiple countries and industries
3. Project financing in China Current situation and development prospects
5. Practical significance
1. Engineering project financing general meaning
2. Project financing The significance of project construction in my country
1. Conducive to accelerating the pace of urban infrastructure
2. Conducive to reducing the financial burden of the government
3. Conducive to improving the investment structure
4. It is conducive to learning from successful foreign experience and improving the level of project construction management.
6. Conditions for success
1. Earnestly complete the project evaluation and risk analysis work
2. Ensure that the legal structure of project financing is rigorous and correct
3. Determine the funding sources of the project early
4. Ensure the rationality of the project management structure
5. Make full use of the pursuit and enthusiasm of each project participant for project interests
9. Risks
1. Risk Overview
1. Risks
(1) Definition of risk
1. Lost opportunities and lost opportunities
2. Uncertainty of loss
(2) Causes of risks
(1) Limitations of the ability to understand objective things
(2) The lag of information itself
(3) Attributes of risks
1. Objectivity of risks
2. Randomness of risk
3. Relativity of risks
4. Risk variability
5. Predictability of risks
(4) Classification of risks
1. Classification according to the nature of risks
2. Classification according to risk objects
3. Divide according to the causes of risks
4. Classification according to the nature of risks
5. Divide according to the tolerance of risk event subjects
2. The concept of project risk
3. Characteristics of engineering project risks
(1) Objectivity and universality of engineering project risks
(2) Uncertainty of project risks
(3) Variability of engineering project risks
(4) Engineering project risks have certain regularity and predictability
(5) Potential risks of engineering projects
(6) Stages of project risks
(7) Behavioral correlation of engineering project risks
(8) Dual results of engineering project risks
(9) Comprehensiveness of project risks
4. Risks of all parties involved in project construction
(1) Risks of project owners
1. Risks of decision-making
2. Project organization and implementation risks
(2) Contractor’s risks
1. Risk of wrong decision-making
2. Risks in contract conclusion and performance
3. Liability risks
(3) Risks of engineering consultants
1. Risks from owners
2. Risks from the contractor
3. Professional liability risks
2. Risk factors
1. Political risks
1. War and civil strife
2. Nationalization, confiscation and expropriation
3. Refusal to pay debts
4. Sanctions and embargoes
5. External relations
2. Economic risks
1. Inflation
2. Foreign exchange risk
3. Protectionism
4. Tax discrimination
5. Owner’s poor ability to pay
6. Customs clearance procedures are complicated
8. Subcontracting risks
9. Risks of issuing a letter of guarantee
10. Risks of capital contracting
3. Technical risks
1. Ground geology
2. Hydrology and climate
3. Supply of materials and equipment
4. Technical specifications
5. The design drawings are not provided in time.
6. Engineering changes
7. Transportation issues
4. Public relations risks
1. Relationship with owners
2. Relationship with engineers
3. Relationships between parties within the joint venture
4. Relationship with the local department where the project is located
5. Management risks
1. Wrong bidding and quotation
2. Risks of contract terms
3. Lack of management knowledge and experience
4. Other management risks
3. Risk identification
1. Risk classification of engineering project financing
(1) Divide according to the chronological order of project implementation
1. Risks during project construction and development stage
2. Risks during the trial production phase of the project
3. Risks during the project production and operation stage
(2) Divide risks according to their controllability
1. Controllable risks
(1) Completion risk
(2) Production risks
(3) Market risk
(4) Environmental risks
2. Uncontrollable risks
(1) Financial risks
(2) Political risks
(3) Risk of force majeure
2. Technology for identification of engineering project financing risks
(1), Checklist
(2) Project work breakdown structure
(3) Common sense, experience and judgment
(4) Experiment or test results
(5) Sensitivity analysis
(6) Fault tree analysis
(7) Expert scoring method
(8), MC method
4. Risk management
1. Project Financing Risk Assessment
(1) Technical evaluation
(2) Economic evaluation
(3) System management evaluation
(4) Financial evaluation
2. Project Financing Risk Prevention
(1) Prevention of political risks
1. Franchise
2. Insure
3. Multilateral cooperation
(2) Prevention of completion risks
1. Use contract forms to avoid completion risks to the greatest extent
2. Use guarantees to avoid project completion risks
3. Prevention of market risks
4. Prevention of financial risks
(1) Interest rate swap
(2), forward foreign exchange contract
(3), options
(4), date selection
(5), fixed exchange rate
(6) Financing currency
(7) Exchange rate change insurance
5. Prevention of production risks
10. Credit guarantee
1. Overview of guarantee
1. Basic concept of guarantee
2. The main role of guarantees in engineering projects
3. Legal form of guarantee
(1) Guarantee of property
1. Mortgage
2. Guarantee
(2) Personal guarantee
4. Legal Characteristics of Guarantee
(1) The guarantee contract is supplementary and subordinate
(2) The guarantor’s liability under the guarantee contract is secondary payment liability.
(3) Consideration is the basis of this type of guarantee
2. Project Guarantor
1. Project investors
2. Commercial guarantor
(1) Basic methods of commercial guarantee
(2) Guarantee is an obligation that project investors must bear in project financing.
3. Third parties with interests related to the project
1. Commercial organizations with direct interests in the project
2. Government agencies
3. International financial institutions
3. Project guarantee Scope and type
1. Scope of project guarantee
(1) Political risks
(2) Business risks
1. Completion guarantee
2. Production cost control
3. Product market arrangement
(3) Commercial political risks
2. Types of project guarantees
(1) Direct guarantee
(2) Indirect guarantee
(3) Intent guarantee
(4), or guaranteed
1. Risks caused by force majeure
2. Political risk
3. Project environmental risks
(5) Credit guarantee
1. Subordinate guarantee
2. Independent guarantee
4. Project guarantee form
1. Property rights guarantee
(1) Real estate guarantee and movable property guarantee
1. Real estate guarantee
2. Chattel guarantee
(2) Fixed guarantees and floating guarantees
1. Fixed guarantee
2. Floating guarantee
2. Credit guarantee
1. "Payment is required regardless of whether the goods are picked up or not" agreement
2. "Pickup and Payment" Agreement
3. Transportation Volume Agreement
4. “Supply and Payment” Agreement
3. Other forms of guarantee
(1) Quasi-guaranteed transactions
1. Financial leasing
2. Sale and leaseback
3. Sale and repurchase
4. Ownership reserved
(2) Government support of the host country
(3) Negative guarantee clauses
(4) Subordinate debts
5. Project guarantee legal document
1. Basic documents
2. Financing documents
1. Loan Agreement
2. Guarantee documents and mortgage documents
3. Supporting documents
3. Main terms of guarantee
1. Consideration terms
2. Guarantee liability
3. Guarantee conditions
4. Representations and warranties
5. Extended guarantee
6. Pay on demand
7. Extension, modification and settlement
8. Applicable law and jurisdiction
9. Tax fees
4. Franchise
(1) Authorizing laws
(2) Concession agreement
1. Provisions on project construction
1. Design responsibility
(1) Design responsibility
(2) Construction time
(3) Construction responsibility
(4) Completion of the project
2. Project insurance
3. Performance bond
4. The government’s responsibility for the transfer of land related to the project
5. Developer’s financial arrangements and corporate structure
5. Permission rights
6. Financing and regulatory measures under the new situation
(1) Financing under the new situation
(2) Financing regulatory measures under the new situation
.
11. Case
1. Typical foreign Financing case
1. Overview of foreign infrastructure construction
2. Overview of the development of foreign project financing
3. Case analysis
Case 1: Enlightenment of the failure of the Channel Tunnel on risk analysis and sharing of PPP projects
(I. Introduction
1 Overview
2. Principles of risk sharing for infrastructure projects
(2) The initiation and development of the “England-France Channel Tunnel”
1. The development process of the “Channel Tunnel”
2. Funding and contract structure of the Channel Tunnel
3. Risks encountered by the Channel Tunnel
(1) Claims and disputes
(2) Delay in operation time
(3) Actual income is low
(4) Total cost growth
(3) Risk sharing errors in the Channel Tunnel
1. Political risk
2. Construction risks
3. Operational risks
4. Market return risk
(4) Conclusion and suggestions
1. Government
2. Private investors
3. Financial institutions
Case 2: BOT Financing Model of the North-South Expressway Project in Malaysia
(1) Project background
(2) Project financing structure
1. Government concession contract
2. Project investors and operators
3. International loan syndicate for the project
(3) Evaluation of project financing plans
(4) Conclusion
2. Domestic typical Financing case
Case 1: Quanzhou Citong Bridge Project Financing
1. Project background
2. Project financing structure
(1) Investment structure of Citon Bridge
①Limited liability
② Financing arrangements are relatively easy and flexible
(2) Financing model of Citon Bridge
(3) Credit guarantee structure of Citong Bridge
3. Brief review of financing structure
Case 2: Financing of Beijing Subway Line 4
1. Project background
2. Investment structure
3. Funding structure
4. Project financing structure
5. Experience and lessons