"Outstanding course –

empowered us to use the

model as a negotiating tool in
our PF deals."
- RBTT Director

Vair Training LLC

presents:
Project Finance
Advanced Financial Modeling
December 9 - 10, 2010 TRINIDAD & TOBAGO

● Create models that are easy to navigate without forfeiting proper deal
sophistication and analysis
● Produce a robust model from feasibility stages through project documentation
to financial close
● Identify and quantify the risks of the project through the model - from sponsor,
participant and lender viewpoints
● Learn the power of "negotiating off the model" instead of "modeling off the
negotiations"
● Enhance spreadsheet analysis, presentations and negotiations
● Engage in current commercial discussions with active project developer /
financial advisor

Taught by Charles T. "Chip" Haskell, Jr, Managing Director of The Vair

Companies and Internationally-Renowned Financial Modeling Instructor.

Register Today: +1 770 853 0362 or info@vaircompanies.com

Vair Training
Project Finance Advanced Financial Modeling
COURSE OBJECTIVES
Project Finance Advanced Financial Modeling is a master-level class and focuses uniquely on project
finance and its related modeling issues. After reviewing some basic elements of project finance, the
participants are given a full suite of project documents and macroeconomic information that are
indicative to any infrastructure project. Immediately following is a step-by-step procedure of building a
complex equity case model. This phase of the course is to demonstrate how contracts dovetail and that
nothing in project finance is mutually exclusive.
Once completed, the delegates review the model from a due-diligence analysis, usually taken from a
lender's or third-party equity perspective. The final phase of this module uses sophisticated model
techniques to help the practitioner price-the-deal. Special consideration is given to more advanced
project-finance issues like liquidated damages analysis and appropriate security packages. The
overriding theme of this specialty course is to use the model as a highly-developed financial analysis
tool that reviews the appropriate risk-versus-reward profiles of project finance. By employing @RISK
software, the course demonstrates the power of Monte Carlo simulation analysis, creating a dynamic
decision-making tool and elevating beyond simple static input and output spreadsheets. This is an
advanced course and is geared to the intermediate-to-advanced delegate.

COURSE OUTLINE
Part 1 - Project Finance versus Corporate Finance Part 11 - Depreciation
Part 2 - The Role of the Model & Common Rules Part 12 - Financing(s)
Part 3 - The Risk Matrix Part 13 - The Income Statement
Part 4 - Introduction of a Project for Modeling Part 14 - The Balance Sheet
Part 5 - The Project Documents Part 15 - The Statement of Cash Flows
Part 6 - The Assumption Page Part 16 - Equity Returns
Part 7 - Operations Part 17 - Loan Values
Part 8 - Construction Part 18 - "Pricing the Deal" and Scenario Analysis
Part 9 - Insurance Part 19 - Monte Carlo Simulations
Part 10 - Taxes Part 20 - Running Sensitivities & Documenting Changes

For a detailed course syllabus, click here

PREVIOUS PARTICIPANTS INCLUDE DELEGATES OF:

● ABN AMRO ● First Global Ltd. ● OPIC
● ANSA Merchant Bank Ltd. ● General Electric ● PEMEX
● ASCO Trinidad Ltd. ● Halliburton ● Petrobras

● Banco do Brasil ● ING Capital ● Petrotrin

● Central Bank of Trinidad & Tobago ● Inter-American Development Bank ● Royal Bank of Trinidad & Tobago

● Ernst & Young ● JP Morgan Chase ● Shell Gas & Power

● Eteck ● Macquarie ● Trinidad & Tobago SEC

● First Caribbean Bank ● NEC ● US Export-Import Bank

● First Citizens Bank ● NGC ● WASA

● Firstline Securities Ltd. ● NordLB ● World Bank/IFC

Vair Training
Project Finance Advanced Financial Modeling

About the Instructor

Charles “Chip” Haskell, Jr. is a Managing Director with The Vair
Companies and author of Advanced Modelling for Project Finance for
Negotiations and Analysis. He has taught financial modeling to delegates
from hundreds of organizations worldwide.

Before founding The Vair Companies, Chip was a Director with Mirant,
based in Amsterdam. Prior to joining Mirant, Chip was a Manager with
Wärtsilä Development and Finance.

Chip has a BA in Economics and French from Hanover College, an MA in

French from Middlebury College and a Masters in International Finance
and Accounting from Thunderbird School of Global Management.

About The Vair Companies, Inc.

The Vair Companies offers financial advisory, training and seminar
services to organizations and individuals working in the international
infrastructure and project development industry. We are active advisors
to sponsors, lenders, participants and governments in the infrastructure
sector, having advised on the closing of over USD 2.5 billion in assets
globally.

During training, we use the same real-world methods and industry

techniques we employ on behalf of our advisory clients. Our courses are
taught by active financial advisors and project developers who impart the
same techniques used to drive real projects, valuations and deals. Vair is
not a PowerPoint-based training firm. Instead, we apply a “hands-on”,
“learn-by-doing” approach to our teaching.

For more information, please visit www.vaircompanies.com

Vair Training
Registration Form: TRINIDAD & TOBAGO
Fax completed registration form to +1 678 802 3222 or register online at www.vaircompanies.com
For more information, please call +1 866 410 VAIR (8247) or email info@vaircompanies.com

Registration Form
Prefix: First Name: Last Name:
Title: Department: Company/Organization:
Street Address:
Mailing Address:
City: State/Prov.: ZIP/Postal: Country:
Email: Phone: Fax:

How did you hear about us?:

Please register the following number of delegates for:

 Financial Modeling & Analysis Dec. 7-8, 2010 Trinidad & Tobago ___ delegate(s) at US$2,500/ea
 Project Finance Advanced Financial Modeling Dec. 9-10, 2010 Trinidad & Tobago ___ delegate(s) at US$3,900/ea
 Combined Course (US$500 savings) Dec. 7-10, 2010 Trinidad & Tobago ___ delegate(s) at US$5,900/ea

Early-Bird Special: 10% discount for registrations received at least 8 weeks prior to course start-date
Group Rates: 20% discount for the third and subsequent delegates from the same organization

Choose one form of payment:

 Check: Invoice me (applicable discounts will be applied)
 Credit Card: Charge my card (applicable discounts will be applied)
 Visa
 Mastercard
 Diners Club

Card Holder Name: _________________________ Account #: _________________________

Expiration Date: _________________________ Signature: _________________________

Registration Information:

Fee: Registration fees include morning coffee/tea, networking lunches and afternoon refreshments. Delegate lodging not
included.
Billing and Confirmation: Invoices and/or Payment Confirmations are forwarded within three (3) business days of receipt of
registrations.
Venue: Vair Training courses are held at world-class international venues. Locations, times and meeting places are confirmed
two (2) weeks prior to course commencement.
Materials: Course materials are provided electronically on Day 1 of on-site registration. Delegates are required to bring a
personal laptop computer equipped with Microsoft Excel software.
Hours: Courses run 9:00 AM–4:30 PM daily
Cancellation Policy: All cancellations must be received in writing. A full refund less a 15% administrative fee will be given for
cancellations up to 21 days before the event start-date. Cancellations received less than 21 days before the event will not be
eligible for a refund. A comparable future course may be attended in lieu of a refund depending upon availability and
location. Delegate replacements are also welcome.
Schedule Changes: Vair Training may find it necessary to reschedule or cancel sessions and will give registrants appropriate
advance notice of such changes. On such occasions, full refunds will be given. Vair Training will not be responsible for
penalties incurred as a result of discounted airfare purchases. For more information regarding Vair Training administrative
policies, please contact our offices at +1 770 853 0362.