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SMi's 13th annual Debt & Equity Financing for PPP/PFI Projects will cover a range of issues critical to the development of the sector.  This timely conference will examine how the recent market turmoil has impacted the sector, look ahead and extrapolate how funding models might evolve, provide perspective through a variety of case studies and analyse a range of other salient and timely topics.  With over 16 high-level industry speakers this forum will provide a vital update and exciting networking opportunity for all involved.
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Key topics covered will include: the sub prime credit crunch and its impact on infrastructure financing, the role and remit of monolines, the debt perspective of the credit crunch, the role of equity funds and risk management for PPP/PFI projects.
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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.
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Confirmed speakers include

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  • Cameron Matson, PFI Financing Advisor, HM Treasury
  • Emmanuel Rotat, Senior Investment Director, Meridiam Infrastructure Fund
  • Ashley Blows, Head of Infrastructure Equity, Depfa Bank
  • Melville Haggard, Markets Development Advisor, Waste Infrastructure Delivery Program, Defra
  • Jo Elliot, Deputy Chief Executive, Quayle Munro
  • David Finlay, Director of PFI Development, National Audit Office
  • Shobha Mirchandani, Assistant Director, Project Finance, Societe Generale
  • Bill Haughey, Lead Director, Infrastructure Finance, Bank of Scotland
  • David Marshall, Projects and Portfolio Finance Director, John Laing
  • Nicholas Hallett, Techincal Director, Mott MacDonald

Conference programme

8:30 Registration & Coffee

9:00 Chairman's Opening Remarks

Nicholas Hallett

Nicholas Hallett, Technical Director, Mott MacDonald Ltd

9:10 A VIEW OF PFI FROM THE TREASURY

Cameron  Matson

Cameron Matson, PFI Financing Adviser, Treasury P F I Unit

9:50 THE IMPACT OF THE SUB PRIME CREDIT CRUNCH ON INFRASTRUCTURE FINANCING

Ashley Blows

Ashley Blows, Managing Director, Head of Infrastructure Equity, Depfa Bank Plc

  • Increased project differentiation – PPP’s vs. Cross-over LBO’s
  • Capital market options and the monolines
  • Changes to lender funding and market depth
  • Impact on pricing and other terms
  • Funding certainty and bidding strategies
  • Whither securitisation?
  • 10:30 Morning Coffee

    11:00 DEBT PERSPECTIVE OF THE CREDIT CRUNCH

    Bill Haughey

    Bill Haughey, Lead Director, Infrastructure Finance, Bank Of Scotland

  • Impact on debt terms offered for PFI/PPP deals
  • How certain are the terms that have been offered
  • Effect on the PFI/PPP syndications market
  • 11:40 DEVELOPMENTS OF PFI IN SCOTLAND

    Jo Elliot

    Jo Elliot, Deputy Chief Executive, Quayle Monro

  • Issues with PFI
  • Non-profit distributing (NPD) model
  • HUB
  • Scottish Futures Trust
  • 12:20 Networking Lunch

    13:50 TECHNOLOGY INNOVATION: AN UPDATE ON MANAGING RISKS AND OPPORTUNITIES TO AVOID FUNDER ANXIETY

    Nicholas Hallett

    Nicholas Hallett, Technical Director, Mott MacDonald Ltd

  • Creating a confident view of commercial outcomes
  • Applying appropriate risk management strategies
  • Avoiding unnecessary risk margins by managing expectations
  • 14:30 FINANCIAL CONSIDERATIONS OVER THE LIFE TIME OF A PFI/PPP PROJECT

    David Marshall

    David Marshall, Director, Projects & Portfolio Finance, John Laing

  • Risks during construction period
  • Improvements during steady state operations
  • Refinancing
  • What if things go wrong?
  • What if the project changes significantly?
  • 15:10 KEY RISK, STRUCTURING AND FINANCE ISSUES IN BSF

    Louisa Cilenti

    Louisa Cilenti, Partner, Nabarro Nathanson

  • PFI/ICT/D&B Interfaces - resolving the cross contamination issues
  • Authority self-insurance, property damage and ICT assets - pros and cons
  • SOPC 4/PUK derogations, including the Funders Direct Agreement - Pfs hard-line approach
  • 15:50 Chairman’s Closing Remarks and Close of Day One followed by Afternoon Tea

    Nicholas Hallett

    Nicholas Hallett, Technical Director, Mott MacDonald Ltd

    8:30 Registration & Coffee

    9:00 Chairman's Opening Remarks

    Nicholas Hallett

    Nicholas Hallett, Technical Director, Mott MacDonald Ltd

    9:10 THE ROLE OF EQUITY FUNDS IN FINANCING PPP PROJECTS

    Emmanuel Rotat

    Emmanuel Rotat, Senior Investment Director, Meridiam Infrastructure

  • Development of funds in current marketplace
  • Primary vs. Secondary investments
  • Need for focus on PPP – how wide is the spectrum of infrastructure?
  • Long term funds and the need for asset management
  • 9:50 ACHIEVING VALUE FOR MONEY IN THE FINANCING OF PPP/PFI PROJECTS

    David Finlay

    David Finlay, Director of PFI Development, National Audit Office

  • Ensuring all financing options are explored
  • The role of financing competitions
  • Refinancing
  • Issues arising from the secondary market
  • 10:30 Morning Coffee

    11:00 CASE STUDY: BUDAPEST AIRPORT

    Shobha Mirchandani

    Shobha Mirchandani, Assistant Director, Project Finance, Societe Generale

  • The initial privatisation process
  • The purchase by Hochtief Airport
  • The funding challenge
  • Negotiations with the Hungarian authorities
  • The final funding structure
  • Interest rate and currency hedging
  • The syndication process
  • Implications for the future
  • 11:40 THE ROSEBERRY PARK HOSPITAL PFI PROJECT – FUNDING COMPETITION PILOT

    Andrew Dumbleton

    Andrew Dumbleton, Corporate Finance Partner, BDO Stoy Hayward

  • The project
  • Preparation for competition
  • The competetive process
  • Outcomes
  • Lessons learnt
  • Arguments for and against
  • 12:20 Networking Lunch

    13:50 WASTE SECTOR OPPORTUNITY

    Michael Dunn

    Michael Dunn, Managing Director, Shanks Waste Solutions

  • General overview of waste PFI market
  • Key drivers
  • Challenges for Debt & Equity
  • Impact of Waste to Resource Management
  • 14:30 PPP AND PFI IN THE WASTE SECTOR

    Melville Haggard

    Melville Haggard, Markets Development Adviser, Waste Infrastructure Delivery Programme , Defra

  • Energy and waste: opportunities within the new policy
  • Development of the CHP market
  • The fit with PFI financing
  • 15:10 THE DEBT COMPONENT IN FINANCING PPP/PFI PROJECTS

    Maciej  Firla-Cuchra

    Maciej Firla-Cuchra , Managing Consultant, Oxera Consulting

  • Are leverage levels currently too high?
  • Assessing the impact of the recent financial turmoil on PPP/PFI project finance
  • Are PPP/PFI project bonds like investments
  • 15:50 Chairman’s Closing Remarks and Close of Conference followed by Afternoon Tea

    Nicholas Hallett

    Nicholas Hallett, Technical Director, Mott MacDonald Ltd

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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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