13th African School for International Financial Law

Euromoney Legal Training is proud to present the 13th African School for International Financial Law. This highly interactive and practical course covers a wide range of topics including international lending and project financing in five intensive days. The school, an essential tool for today’s international financial lawyer, focuses on the key legal issues and contractual framework governing many international financial transactions. Throughout the five days, lectures and workshop sessions will alternate, providing you with several opportunities to participate actively in documentation exercises and enhance your ability in solving practical problems, while equipping you with the knowledge to overcome the myriad of pitfalls in international financial law transactions. Prior to the course participants will receive a study pack, which is essential background reading for the course. Attend this five-day intensive training course and examine: Covenants, events of default and other essential terms of a loan agreement Key structural issues in secured lending, such as upstream guarantees and the use of SPVs The circumstances in which Intercreditor Arrangements are required Project finance and PPP structures Risk identification and allocation in project finance The bankability of Project Documents (Concession contract, construction contract O&M) The essential terms of a project finance loan agreement Security and sponsor support in project finance Working with international financial institutions The different loan transaction structures, including revolving credit and multicurrency facilities Who Should Attend Lawyers in banks and financial institutions Government and international organisations involved in international financing Lawyers in multi-national corporations dealing with international financial transactions Lawyers in practice who advise their clients on international financial transactions Senior banking executives who are closely involved in legal issues of international financial transactions
Monday 11th November International Lending The most common structures of loan transactions – Single banks and syndicated loans – Term loans and revolving credit facilities – Single currency and multi-currency facilities – Loan and guarantee facilities – Secured and unsecured facilities Interbank markets – Interest period and interest rates – Match funding – Broken funding costs Common terms of the loan agreement – Administrative provisions – Representations Workshop: Part 1: Common expressions used in International Banking Examining the common terms of the loan agreement – Covenants – Events of default Workshop: Common terms of the loan agreement – Boilerplate provisions and tax – Indemnities – Set-off clause – Jurisdiction and governing law provision – Gross up clause Loan transfers Tuesday 12th November Secured Lending Structural issues – Structural subordination – Upstream guarantees – Limitation on recourse – Use of spvs Security Documentation overview – Security – The right in rem – The undertakings – The application of funds – The due diligence Key legal issues – Governing law and jurisdiction – What courts have jurisdiction to deal with disputes in an international context – What law will be applied Clawback/unenforceability Due diligence Wednesday 13th November Security on Contracts and Intercreditor Arrangements (morning) Security on Contracts – Commitments to inject capital – Put options, leases, offtake agreements and other contractual support – Contract assignments Intercreditor Arrangements – The circumstances in which an intercreditor is required – Subordination of debt and security Project Finance: Legal and Documentation Issues (afternoon) Introduction – What is project finance – PPP,PFI – Benefits – Issues Risk Identification and Allocation – The players and their risks – How are they allocated – Techniques of risk mitigation and avoidance Workshop: Preparation of a Risk Matrix Thursday 14th November Project Finance: Legal and Documentation Issues Project Documents – Analysis of the Concession Project Agreement – Construction Contracts – Operation and Maintenance Contracts – Offtake Agreements – Key issues of bankability Workshop: Risk allocation in a Desalination deal – Participants will be split into State, Developer and Bank teams. Friday 15th November Project Finance: Legal and Documentation Issues The Project Finance Loan Agreement: – What differences with corporate finance? Non-recourse structures and exceptions Dealing with IFIs and Bilaterals Security packages Workshop: Challenges of African Project Finance