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Cash Flow Available for Debt Service (CFADS)
Cash Flow Available for Debt Service (CFADS)What is CFADS? Cash Flow Available for Debt Service (CFADS) is arguably the most important metric in project finance. It determines how much cash is available to all debt and equity investors.
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Common Sections of a Project Finance Model
Common Sections of a Project Finance ModelAnatomy of a project finance model Below is a simplified representation of a Project finance model structure. Each of these blocks (e.g. “Cons”) represents a different calculation module. The cast of...
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Debt Service Coverage Ratio (DSCR)
Debt Service Coverage Ratio (DSCR)What is Debt Service Coverage Ratio? If the most important line item in a project finance model is the CFADS, then the most important ratio is the Debt Service Coverage Ratio (DSCR). DSCR is calculate...
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Debt Sizing in Project Finance
Debt Sizing in Project FinanceDebt sizing in project finance Debt sizing refers to the project finance model mechanics for determining how much debt can be raised to support an infrastructure project. The amount of debt that can b...
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Distinctive Features of a Project Finance Model
Distinctive Features of a Project Finance ModelProject finance models generally share the following features: Scrutiny on construction, modeled monthly A focus on optimizing debt Long term operations, modeled quarterly or semi-annually Not a going...
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Excel Macro for Debt Sizing
Excel Macro for Debt SizingIn this article, you'll learn how to build a debt sizing macro commonly used in project finance models. The debt sizing macro is simply a copy / paste macro, which calculates debt sizing through eith...
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Guide to Project Finance: Job Description and Responsibilities
Guide to Project Finance: Job Description and ResponsibilitiesWhat is Project Finance? The Technical Definition: Project finance is used to refer to a non-recourse or limited recourse financing structure in which debt, equity and credit enhancement are combined...
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Project Finance Career Paths
Project Finance Career PathsThe Project finance industry is broad and consists of financial, legal, and technical jobs. Certain functions of each of these categories will require understanding of project finance. However, financ...
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Project Finance Model Structure
Project Finance Model StructureProject Finance Model Structure Project finance modeling is an excel based analytical tool used to assess the risk-reward of lending to or investing in a long-term infrastructure project based upon a...
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Project Finance Structuring: Sharing of Risks
Project Finance Structuring: Sharing of RisksThe key to structuring a project finance deal is the identifying of all key risks associated with the project and the allocation of those risks among the various parties participating in the project....
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Project Finance vs Corporate Finance
Project Finance vs Corporate FinanceWhat is Project Finance? Project finance is the financing of large, long term infrastructure projects. But theoretically, companies can still "corporate finance" an infrastructure project. So what rea...
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Project Finance: Free Online Course
Project Finance: Free Online CourseWhat is Project Finance? Welcome to Wall Street Prep's free online course on Project Finance! Project finance refers to the funding of large, long term infrastructure projects such as toll roads, air...
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Risks in Project Finance
Risks in Project FinanceWhat are the Risks in Project Finance? In the field of project finance, risk management is all about identifying the risks associated with a project and the proper allocation of those risks among the...
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Sources of Project Financing
Sources of Project FinancingSources of project financing will depend on the structuring of the project (which is heavily impacted by project risks). There are many financial products in the market to pay for construction costs....