• Title in French: Finance d'entreprise
  • Course code: tba
  • ECTS credits: 3
  • Teaching hours: 72h
  • Type: specialized course
  • Language of instruction: English and French
  • Coordinator: tba
  • Instructor(s): Amaury Schoenauer (Caisse d’Epargne CEPAC), Mehdi El Alaoui (International Finance Corporation), Benoît Forgues (Rgreen), Olivier Vandooren (Sigée Finance), Julien Belon (Arx Corporate Finance), Hugues Chabalier (2CFinance),

Mathieu Rebbi (EY)

  • Last update 24/03/2021 by C. Pouet

This course unit is divided into three parts:

  • Structured finance (24 hours) taught by Amaury Schoenauer,
  • Project finance (24 hours) taught by Mehdi El Alaoui, Benoît Forgues and Olivier Vandooren,
  • Workshop in corporate finance (24 hours) taught by Julien Belon, Hugues Chabalier and Mathieu Rebbi.
  • Know how to build a financial model and challenge its assumptions
  • Understand how bankers can manage risks using structured finance
  • Know the advantages and drawbacks of structured operations
  • Understand how these operations can allow for financing large industrial projects
  • Know the advantage and drawbacks of PPPs
  • Understanding the specificities of start-up financing and advising

Structured finance

  1. Main market players and rationale for using structured finance
  2. Promoters Credits
    • Understanding the Promoter's logic
    • Understanding Credit Risk
    • Assessing the risks for the banker
  3. Investor Credit
    • Conceptualization
    • Leverage and Loan to Value (LTV)
    • Debt Service Cover Ratio (DSCR) and Interest Cover Ratio (ICR)
    • Slicing of Debt
  4. Due diligence and points of vigilance of the banker
    • Leases and Rental Conditions
    • Valuation Report
  5. Other operations
  6. Perspectives on Market Finance (Securitization)

Project finance

  1. The main steps of project finance
    • Tender
    • Structuring
    • Optimization
  2. Financial modelling
    • The issue of circularity
    • Internal rate of return and gearing ratio
    • Case study
  3. The case of renewable energy projects
    • Prices and costs of renewables
    • Bank versus funds
    • How to set the price of a project?

Workshop in corporate finance

  1. Financial modelling using Excel
  2. The specificities of Transaction Services Advisory
  3. Advising start-ups (on their business model and in making them viable)
  4. Projects with real start-ups

Check the availability of the books below at Centrale Marseille library.

  1. Structured finance
    • Vernimmen, P. (2021). Finance d’entreprise. Dalloz.
  2. Project finance
    • tba
  3. Workshop in corporate finance
    • tba
  • en/ddefifien.txt
  • Dernière modification: 2021/03/24 09:39
  • de cpouet