The fundamentals of Export Finance
OBJECTIF :
Assess the main risks involved in structuring an export finance project. Grasp how banks and rating agencies assess risks on your industry, the countries of your clients or corporate risks. Learn about the key instruments to cover these risks and how an optimal deal structuring can help. Assess the debt capacity of a project. Identify the main sources of finance and the key market players, including Export Credit Agencies, acting in the export finance sector. Maximize practical learning with real – life case studies and interactivity with other members of the group in either banking, engineering or commercial positions.
PUBLIC ATTENDU :
Bankers involved directly or indirectly in the export finance business; Executives from exporting industrial companies active either in commercial, legal or engineering positions where a knowledge of Export Finance fundamentals is required.
APPROCHE PEDAGOGIQUE :
Process based on an active contribution of the participants, with real-life cases allowing exchanges between participants and experts. A support booklet is handed out during the training.
PREREQUIS:
This seminar will be conducted in English. Participants simply need a working knowledge of English in their own industry. By the end of Day 2, it becomes already a habit!
PROFIL DE L'INTERVENANT:
A assuré des postes de responsabilité dans une grande banque française, puis dans des entreprises néerlandaises. Enfin, Directeur des Financements de Projet pour un groupe immobilier. Egalement Professeur d'Université, cette intervenante est Consultante, Expert en financement Export et financements de Projets.
PROGRAMME :
Day 1
Morning session
• Introduction
• “Hands on” session with a case study: the Halliburton – Sonangol crude oil financing (USA / Angola). Learn how to circumvent political risk and mitigate commercial risks through optimal deal structuring? And put in perspective Export finance and Project Finance.
• Main market players in the Export Finance industry: commercial contractors (assets manufacturer, operator), ECA’s, banks (lenders, arrangers, underwriter), rating agencies etc…
Afternoon session
• Main financing instruments: Short to medium term with forfeiting/factoring; medium to long term with buyer credit, leasing,
• Case study: Zevarde, gas project in Uzbekistan. An example of buyer credit with ECA (Coface) cover.
Day 2
Morning session
• Introduction to the lending process and risk analysis. Risk appraisal from a banker’s perspective –
• Typology of risks and main risks’ mitigators used in Export Finance:
- Country risk
- FOREX risk
- Commercial / Corporate risk
- Industry / Technology risk
- Asset risk
- Structuring risk
• Case study: Special focus on the country risk and its main cover instruments, using the risk analysis matrix of a rating agency (Standard & Poors or Moody’s).
Afternoon session
• What are the advantages of an Export Credit in such structuring? Presentation of Coface and US Exim’s terms and requirements when supporting an export credit.
• Case study
• Course closing and evaluation