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SMi's 11th annual event, Debt & Equity Financing for PPP/PFI Projects, will address the latest key issues in PFI financing. Primary and secondary market deals will be assessed and discussed from a variety of industry perspectives and topical case studies examined. With over 16 high-level industry speakers this forum will provide a vital update and exciting networking opportunity for all involved.

There are a whole host of issues facing the industry at the moment which will be covered at this well established conference. Topics will include, amongst others, the progress made on HM Treasury's policy initiatives such as Credit Guarantee Finance and funding competitions, "low risk" debt financing, developments in securitisation of PPP debt, an insight into European progress, specific case studies relating to transport, education, waste and leisure, and an assessment of how the secondary market is changing PFI.

This timely conference promises to provide both the private and public sectors with a valuable insight into PFI deal structures and create an ideal opportunity to take advantage of this growing market.

A unique opportunity to learn from leading industry experts including:

David Finlay, Director of PFI Development, National Audit Office

Alan Sadler, Senior Executive, 4ps

Gary Neville, Director, Secondary Markets, John Laing

Barry White, Education Director, Skanska

Robin Herzberg, Managing Director, Carillion Private Finance

Thomas Barrett, Director, European Investment Bank

Shashi Verma, Senior Principal, Corporate Finance, Transport for London

Paul Leatherdale, Managing Director & Global Head of Infrastructure Finance, DEPFA Bank

Stephen Paine, Managing Director, Joint Global Head of Infrastructure, UBS Investment Bank

Robert Rees, Partner, Secondary Market Infrastructure Fund (SMIF)

Alan Douglas, Managing Director, Head of European Infrastructure, CIFG

Andy Matthews, Managing Director, Barclays Capital

Conference programme

8:30 Registration & Coffee

9:00 Chairman's Opening Remarks

Charles Yates

Charles Yates, Senior Manager, Grant Thornton

9:10 NATIONAL AUDIT OFFICE UPDATE

David Finlay

David Finlay, Director of PFI Development, National Audit Office

  • Financing issues the public sector needs to bear in mind
  • Funding competitions
  • Refinancing: current trends
  • The emerging secondary market
  • 9:50 "LOW RISK" DEBT FINANCING

    10:30 Morning Coffee

    11:00 EUROPEAN PRIORITIES IN INFRASTRUCTURE FINANCING

    Thomas Barrett

    Thomas Barrett, Director, European Investment Bank

  • Financing investment in economic and social infrastructure throughout EU-25
  • Increasing role of debt and equity markets in public infrastructure
  • Development of public sector organisational capacity and expertise in infrastructure procurement
  • New developments and challenges in regulation and management of public infrastructure
  • 11:40 WHAT CAN THE UK LEARN FROM EUROPEAN PFI/PPP?

    Alan Douglas

    Alan Douglas, Managing Director, Head of European Infrastructure, CIFG Europe

  • Procurement process
  • Project range
  • Funder and equity protections
  • Competitive environment
  • 12:20 Networking Lunch

    13:50 FINANCING MAJOR TRANSPORT PROJECTS

    Shashi Verma

    Shashi Verma, Senior Principal, Corporate Finance, Transport for London

  • Transport for London’s investment programme
  • Prudential borrowing
  • Financing the East London Line Extension
  • Delivery structures for major projects
  • Crossrail
  • 14:30 BUILDING SCHOOLS FOR THE FUTURE

    Barry White

    Barry White, Education Director, Skanska BOT UK

  • What is a LEP?
  • Trend towards ‘thin’ LEPs
  • Impact on PFI
  • Interface issues
  • 15:10 Afternoon Tea

    15:40 FUNDING OPTIONS FOR THE WASTE SECTOR

    Nigel Aitchison

    Nigel Aitchison, Managing Director, Shanks PFI Investments

  • PFI
  • PPP
  • Potential borrowing
  • Equity
  • 16:20 THE OPPORTUNITIES OF USING PRUDENTIAL BORROWING INSTEAD OF PROJECT FINANCE INCLUDING A CASE STUDY

  • Implications of prudential borrowing
  • Change in risk profile of projects
  • Examples of where prudential borrowing has been used and the benefits
  • Case study - Elmbridge Council PPP £12m leisure complex
  • Peter Kirkham

    Peter Kirkham, Development Director, DC Leisure Management Ltd

    Kevin Godden

    Kevin Godden, Director of Finance and Procurement, PMP Consulting

    17:00 Chairman’s Closing Remarks and Close of Day One

    8:30 Registration & Coffee

    9:00 Chairman's Opening Remarks

    David  Wylde

    David Wylde, Managing Director, David Wylde Project Finance

    9:10 WHAT IS THE SECONDARY MARKET?

    Robert Rees

    Robert Rees, Partner, Secondary Market Infrastructure Fund

    1. Progress of the market in 2005/6
    2. How the secondary market is changing bidding tactics
    3. How secondary is the market?
    4. A new model for SPVs – the importance of asset management
    5. Investment partnership
    6. A new operational framework - from fund to company
    7. 9:50 SECONDARY MARKET DEVELOPMENTS

      Gary  Neville

      Gary Neville, Director, Secondary Markets, John Laing

    8. When to sell
    9. When to buy
    10. Market developments
    11. 10:30 Morning Coffee

      11:00 CREATING VALUE

      Andy Matthews

      Andy Matthews, Managing Director, Barclays Bank

    12. Structure
    13. Partnership
    14. Portfolio
    15. Value enhancement
    16. 11:40 DEVELOPMENTS IN SECURITISATION OF PPP DEBT

      Paul Leatherdale

      Paul Leatherdale, Managing Director & Global Head Of Infrastructure Finance, DEPFA Bank

    17. Why securitisation is useful
    18. Structuring issues
    19. Role of the rating agencies
    20. 12:20 Networking Lunch

      13:50 SECURITISATION OF PPP LOANS

      Laurence Monnier

      Laurence Monnier, Senior Director, Fitch Ratings

    21. CDO of PPP: the benefits (and pitfalls) of recycling
    22. Suitability of PPP loans as an asset class for CDOs
    23. Rating methodology
    24. CDO rating overview
    25. Rating of the underlying loans – recovery and correlations
    26. Case study: Stichting Profile Securitisation
    27. Conclusion
    28. 14:30 BOND FINANCING

      Stephen Paine

      Stephen Paine, Managing Director, Joint Global Head of Infrastructure, UBS Investment Bank

    29. Key drivers for adopting bond financing
    30. Why is it value for money?
    31. How the structuring of the deal affects financing
    32. Risk management
    33. Advantages and disadvantages
    34. 15:10 Afternoon Tea

      15:40 STRATEGIC RISK MANAGEMENT

      Robin Herzberg

      Robin Herzberg, Managing Director, Carillion Private Finance

    35. Risk management objectives
    36. Process and procedures
    37. Operational risks in different businesses
    38. Some themes in risk management
    39. Some risk management tools
    40. 16:20 TAX RISK IN PPP FINANCING

      Margaret  Stephens

      Margaret Stephens , Tax Partner PPP Advisory Services, KPMG

    41. New legislation and industry response
    42. BSF LEP model
    43. Not for profit models
    44. Secondary market structures
    45. 17:00 Chairman’s Closing Remarks and Close of Conference

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      WHAT IS CPD?

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