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Project Finance for AFRICAN Projects. 19 July 2011. Presented by Cresco Project Finance “ Your project development partner, delivering value through a multi-skilled team ”. CONTENTS. Introduction Project Finance Overview Risk Assessment and Allocation Project Structuring
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19 July 2011
Presented by Cresco Project Finance
“Your project development partner, delivering value through a multi-skilled team”
CRESCO has a multi-skilled team to assist investors in securing and developing high quality businesses and projects
Helping you bridge the gap
Set out below recent project finance transactions supported by CRESCO
Project Finance Overview
PROJECT STRUCTURINGBalancing the size of the project with the appropriate financial Structure. Generally project finance not possible under USD25M
or Site Lease
Agent / trustee
O & M Company
PROJECT FINANCE OVERVIEWDetailed below are key project risks that can “kill” a project very early
Risk Assessment and Allocation
Set out below are the key risks that we experienced to be difficult to mitigate
TYPICAL PROJECT TIMELINEFunding is now a critical path of a project, no longer an afterthought. Needs to be considered in parallel with technical solution
The deal process and key milestones
Strategy & structuring
Marketing to investors
PROJECT FINANCE PARTIESProject Finance Lenders can be broadly classified into the following 3 key areas – each with different mandates / risk appetite
PTA Bank, Ecowas bank, World Bank, EIB, IFC, DBSA, EBRD, IDA, ADB, DBSA, ADB, IDC, AFD, DEG, Proparco, FMO, OPIC, CIDA, SIDA China Eximbank, Afriexim etc.
USEXIM, ECGD, Hermes, EDC, JBIC/Nexi, EFIC, SACE, Cesce, ECIC, Coface, Exim India, KFW IPEX, OND, SEK, Iftric etc.
ECIC Small Medium Transaction Product
ECIC SMALL MEDIUM TRANSACTION PRODUCTTHE PRODUCT – Buyers Credit is the norm and allows a SA bank to provide finance to the foreign buyer to allow contractor to sell the “kit”
[Existing Mine – DRC]
[SA Bank etc]
[USD3.15m 5 yr loan]
[USD 4 m Boiler]
MIGA Political Risk Insurance
CRESCOs MIGA ADVANTAGECRESCO is the appointed agent for MIGA (world bank political insurance agency) which support projects in unusual destination
Lakeside Office Park
263 West Street
+27 (0) 12 663 3660
+27 (0) 12 663 3651
Directors contacts Focus area
Conrad Hefer Structuring and ECA
+27 (0) 82 888 3836