Table des matières
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Course unit: Corporate Finance
Beware! Under construction.
Course metadata
- Title in French: Finance d'entreprise
- Course code: tba
- Type: specialized course
- ECTS credits: 8
- Semester 10 (Spring)
- Teaching period: Mid-February to Mid-April
- Teaching hours: 100h
- 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 04/07/2022 by C. Pouet
Brief description
This course unit is divided into four 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,
- Data Project: modeling and validation (20 hours) taught by tba.
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
Data Project: modeling and validation
tba
Bibliography
You can check the availability of the books below at Centrale Méditerranée library.
- Structured finance
- Vernimmen, P. (2021). Finance d’entreprise. Dalloz.
- Project finance
- tba
- Workshop in corporate finance
- tba