Afficher la pageAnciennes révisionsLiens de retourAjouter au livre.Exporter en PDFHaut de page Cette page est en lecture seule. Vous pouvez afficher le texte source, mais ne pourrez pas le modifier. Contactez votre administrateur si vous pensez qu'il s'agit d'une erreur. =====Course unit: Corporate Finance ===== ==== Course metadata ==== * 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// ==== Brief description ==== 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. ==== Learning outcomes ==== * 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 ==== Course content ==== === Structured finance === - Main market players and rationale for using structured finance - Promoters Credits * Understanding the Promoter's logic * Understanding Credit Risk * Assessing the risks for the banker - Investor Credit * Conceptualization * Leverage and Loan to Value (LTV) * Debt Service Cover Ratio (DSCR) and Interest Cover Ratio (ICR) * Slicing of Debt - Due diligence and points of vigilance of the banker * Leases and Rental Conditions * Valuation Report - Other operations - Perspectives on Market Finance (Securitization) === Project finance === - The main steps of project finance * Tender * Structuring * Optimization - Financial modelling * The issue of circularity * Internal rate of return and gearing ratio * Case study - 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 === - Financial modelling using Excel - The specificities of Transaction Services Advisory - Advising start-ups (on their business model and in making them viable) - Projects with real start-ups ==== Bibliography ==== Check the availability of the books below at [[https://documentation.centrale-marseille.fr/|Centrale Marseille library]]. - Structured finance * Vernimmen, P. (2021). Finance d’entreprise. Dalloz. - Project finance * tba - Workshop in corporate finance * tba en/ddefifien.txt Dernière modification : 2021/03/24 10:39de cpouet