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"Very clear explanations and very good speakers" Richard Rankin, Deloitte & Touche

A unique opportunity to learn from leading industry experts including:

Chris Heathcote, Project Director, Head of Project Finance, Partnerships UK

David Finlay, Head of PFI Development, National Audit Office

Stephen Paine, Executive Director, UBS Warburg

Anthony Sykes, Deputy General Manager, Sumitomo Mitsui Banking Corporation (SMBC)

Alan Douglas, Principal, Global Infrastructure, Banc of America Securities

Graham Beazley-Long, Director, Global Debt, Dresdner Kleinwort Wasserstein

Dr Marcus Kleiner, Team Head, Transportation and PFI, Global Project Finance, Hypovereinsbank

David Shepherdson, Head of Infrastructure, Credit Lyonnais

Paul McCormick, Education Officer - PFI & Premises Manager, Sheffield City Council

Robin Herzberg, Concessions Director, Carillion

Benefits of attending:

Keep up to date with the latest developments and projects

Assess the advantages and disadvantages of debt and equity financing

Examine innovative methods of funding

Meet and network with the leading industry players

Conference programme

8:30 Registration and Coffee

9:00 Chairman's Opening Remarks

Maurice Hochschild

Maurice Hochschild, Head of Project & Infrastructure Finance, Investec European Capital

9:10 KEY NOTE ADDRESS

Chris Heathcote

Chris Heathcote, Project Director, Head of Project Finance, Partnerships UK

  • Guidance policies for PFI projects
  • The benefits of merging with the private sector
  • Flexibility versus lowest costs
  • Developing an effective long term strategy for financing projects
  • Lessons learnt so far with PFI projects
  • 9:40 NATIONAL AUDIT OFFICE VIEW ON CURRENT FINANCING ISSUES

    David Finlay

    David Finlay, Head of PFI Development, National Audit Office

  • Key financing considerations at different stages of a PFI/PPP project
  • Financing competitions : the circumstances in which they may be useful
  • Refinancing: what this involves and the issues to be addressed
  • Challenges for the future
  • 10:20 THE TREASURY BUILDING PROJECT

    Stephen Harris

    Stephen Harris, Head, International, IFSL

  • Overview of the project: an update so far
  • Considering best value options for funding
  • The objectives of the funding competition, and the management of the process
  • The financing put in place as a result of the competition
  • The impact of the funding competition on other PFI projects
  • 11:00 Morning Coffee

    11:20 FINANCING STRUCTURES FOR PFI PROJECTS

    Alan Douglas

    Alan Douglas, Principal, Global Infrastructure, Banc of America Securities

  • Assessing project characteristics
  • Sponsors and government objectives
  • Financing structures available
  • Implementing innovative structures
  • Lessons learned from PFI projects
  • 12:00 FINANCE FOR PPPs

    Graham Beazley-Long

    Graham Beazley-Long, Director, Global Debt, Dresdner Kleinwort Wasserstein

  • Summary of existing markets
  • New developments in funding markets
  • Looking at future opportunities within the market
  • 12:40 Lunch

    14:00 BONDS VS COMMERCIAL DEBT

    Stephen Paine

    Stephen Paine, Managing Director, UBS Investment Bank

  • Fixed or floating interest rates
  • Allowing project sponsors increased financial flexibility
  • Costs, rates and loan duration
  • Assessing the competition between these two sources of finance for project funding
  • Benefiting from more competitive rates and growing tenors
  • Widening the lender profile
  • 14:40 DEBT FINANCE

    Dr Marcus Kleiner

    Dr Marcus Kleiner, Team Head, Transportation & PFI; Global Project Finance, Hypovereinsbank

  • Considering debt finance for PFI in contrast to traditional project loans
  • Issues to take into account when debt financing a PFI project
  • Servicing senior and junior debt over a long-term credit period
  • Analysing the risks in bond funded PFI programmes
  • Disclosure burdens and the covenant of the monoline
  • Bank loan finance & debt finance – outlook on future PFI project markets
  • 15:20 Afternoon Tea

    15:40 THE NEED FOR PPP - THE FINNISH DEVELOPEMENTS

    Pertti Valtonen

    Pertti Valtonen, Counsellor, Ministry of Trade and Industry, Finland

  • Assessing the need for private sector funding
  • Structures of development assistance and possibilities with PPP
  • Overview of the existing PPP projects in Finland
  • Experiences and problems with PPP projects and solutions found
  • Further opportunities for PPP in Finland
  • 16:20 PFI/PPP FINANCIAL ADVICE

    John Mobsby

    John Mobsby, Director, Mobsby Associates Limited

  • An independent view of the financial feasibility of the project and its bankability
  • The financial plan and structuring of the project
  • The cash flow model
  • Selection of the arranging bank
  • Bringing the project to financial close
  • 17:00 Chairman's Closing Remarks and Close of Day One

    8:30 Re-registration and Coffee

    9:00 Chairman's Opening Remarks

    Timothy Stone

    Timothy Stone, Partner, KPMG

    9:10 THE DEBT/EQUITY MIX

    David Shepherdson

    David Shepherdson, Head of Infrastructure, Credit Lyonnais

  • Issues of tenor
  • The convenant package
  • Bond market appetite
  • Refinancing
  • Equity holders post-completion
  • Political risk of governments
  • 9:40 CASE STUDY - SHEFFIELD CITY COUNCIL - GROUPED SCHOOLS PROJECT

    Paul McCormick

    Paul McCormick, Education Officer, PFI & Premises Manager, Sheffield City Council

  • Project background
  • From vision to reality
  • Dealing with the continuing issues of conflicts of interest - resolving the tension
  • Strategy planning, project structuring, development and the management structure
  • Ensuring cost effective facilities for schools through PFI
  • Dealing with long-term PFI education financing - looking to the future is there a need for change?
  • 10:20 HOW THE FINANCING CONSIDERATIONS CHANGE OVER THE LIFE OF A PROJECT

    Robin Herzberg

    Robin Herzberg, Concessions Director, Carillion

  • Considering methods of finance for PFI contracts
  • Issues to take into account when financing a PFI project
  • Servicing debt over a long-term credit period
  • Analysing the risks in the various funding PFI programmes
  • Planning ahead and assessing the risks
  • What we can learn from certain sectors
  • 11:00 Morning Coffee

    11:20 PRINCIPLES OF REFINANCING

    Anthony Sykes

    Anthony Sykes, Deputy General Manager, Sumitomo Mitsui Banking Corporation (SMBC)

  • The role of refinancing
  • How opportunities for refinancing arise
  • New approach in PFI project refinance
  • How should risk be priced?
  • Guidelines for refinancing gain share
  • 12:00 BRIGHTON & HOVE CITY LIBRARY & MIXED USE DEVELOPMENT

    Jeremy Tilford

    Jeremy Tilford, Director, Mill Group

  • The proposal, the approval and the funding
  • Strategy planning, project structuring, development and the management structure
  • Debt meets equity – balancing risks
  • Long term perspectives on the project
  • Efficient uses of resources within allocated budgets
  • Lessons to be learnt from the project
  • 12:40 Lunch

    14:00 THE PROS AND CONS OF PPP IN GERMANY

    Dr Joerg Christen

    Dr Joerg Christen, Ministerialrat, Ministry of Finance of the State of Rheinland-Pfalz

  • Experiences gained Procurement structures Main objectives
  • Solved and unsolved problems Value for money considerations Evaluation of risk transfer - the view of the public sector Procurement law, tax law, budget law, public subsidies
  • Should Germany copy the British example?
  • 14:40 COMMERCIAL STRUCTURE ISSUES IN THE LUL POWER PFI PROJECT

    Kevin Boram

    Kevin Boram, Finance Director - SEEBOARD Capital Projects, SEEBOARD Capital Projects

  • The public sector’s requirements
  • Identifying the private sector’s requirements
  • The LUL Power Solution
  • Lessons learnt
  • Future developments
  • 15:20 Afternoon Tea

    15:40 PFIS AND PPPS

    Angus Dunn

    Angus Dunn, Director, Operis Group

  • What is PFI / PPP - private service provision, or public procurement?
  • What is your borrower doing for his public sector client - delivering high quality services at a lesser price than they could otherwise be procured, if they could be afforded at all, or providing a conduit for concealed public borrowing, with a veneer of service provision on top ?
  • Who are you lending to - a real project company with its own identity and destiny, or a paper company living in a drawer in the desk of the company secretary of a company whose real business is doing something quite different ?
  • What are you lending against - a real, free standing business entity, or a complicated contract, whose output are difficult to predict?
  • How predictable is your borrower's income - a contractually certain stream of revenue for thirty years, or a best guess that might go badly wrong ?
  • 16:20 RATING PPP/PFI STRUCTURES

    Jan Willem Plantagie

    Jan Willem Plantagie, Associate Director, Standard & Poor’s

  • Rating approach and process
  • Key rating elements for PPP structures
  • Impact of debt/equity structure on the rating
  • How to apply ratings for PPP projects
  • 17:00 Chairman's Closing Remarks and Close of Conference

    +

    Workshops

    PFI/PPP Project Refinancing
    Workshop

    PFI/PPP Project Refinancing

    The Hatton, at etc. venues
    12th June 2002
    London, United Kingdom

    PFI/PPP Project Refinancing
    Workshop

    PFI/PPP Project Refinancing

    The Hatton, at etc. venues
    12th June 2002
    London, United Kingdom

    The Hatton, at etc. venues

    51/53 Hatton Garden
    London EC1N 8HN
    United Kingdom

    The Hatton, at etc. venues

    HOTEL BOOKING FORM

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    WHAT IS CPD?

    CPD stands for Continuing Professional Development’. It is essentially a philosophy, which maintains that in order to be effective, learning should be organised and structured. The most common definition is:

    ‘A commitment to structured skills and knowledge enhancement for Personal or Professional competence’

    CPD is a common requirement of individual membership with professional bodies and Institutes. Increasingly, employers also expect their staff to undertake regular CPD activities.

    Undertaken over a period of time, CPD ensures that educational qualifications do not become obsolete, and allows for best practice and professional standards to be upheld.

    CPD can be undertaken through a variety of learning activities including instructor led training courses, seminars and conferences, e:learning modules or structured reading.

    CPD AND PROFESSIONAL INSTITUTES

    There are approximately 470 institutes in the UK across all industry sectors, with a collective membership of circa 4 million professionals, and they all expect their members to undertake CPD.

    For some institutes undertaking CPD is mandatory e.g. accountancy and law, and linked to a licence to practice, for others it’s obligatory. By ensuring that their members undertake CPD, the professional bodies seek to ensure that professional standards, legislative awareness and ethical practices are maintained.

    CPD Schemes often run over the period of a year and the institutes generally provide online tools for their members to record and reflect on their CPD activities.

    TYPICAL CPD SCHEMES AND RECORDING OF CPD (CPD points and hours)

    Professional bodies and Institutes CPD schemes are either structured as ‘Input’ or ‘Output’ based.

    ‘Input’ based schemes list a precise number of CPD hours that individuals must achieve within a given time period. These schemes can also use different ‘currencies’ such as points, merits, units or credits, where an individual must accumulate the number required. These currencies are usually based on time i.e. 1 CPD point = 1 hour of learning.

    ‘Output’ based schemes are learner centred. They require individuals to set learning goals that align to professional competencies, or personal development objectives. These schemes also list different ways to achieve the learning goals e.g. training courses, seminars or e:learning, which enables an individual to complete their CPD through their preferred mode of learning.

    The majority of Input and Output based schemes actively encourage individuals to seek appropriate CPD activities independently.

    As a formal provider of CPD certified activities, SMI Group can provide an indication of the learning benefit gained and the typical completion. However, it is ultimately the responsibility of the delegate to evaluate their learning, and record it correctly in line with their professional body’s or employers requirements.

    GLOBAL CPD

    Increasingly, international and emerging markets are ‘professionalising’ their workforces and looking to the UK to benchmark educational standards. The undertaking of CPD is now increasingly expected of any individual employed within today’s global marketplace.

    CPD Certificates

    We can provide a certificate for all our accredited events. To request a CPD certificate for a conference , workshop, master classes you have attended please email events@smi-online.co.uk

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