In the corporate world, few decisions shape long-term enterprise value as much as financing and investment in large-scale projects. For directors, the question is not only how to fund growth but also how to govern risk, preserve shareholder value, and ensure financial resilience. The course “Debt and Equity Financing & Project Finance and Infrastructure Investment”, offered by Oxford Training Centre, equips board members with the frameworks needed to evaluate financing strategies, oversee project investments, and balance the competing demands of shareholders, lenders, and regulators.
This program moves beyond financial formulas to examine the strategic boardroom implications of debt-equity trade-offs, special purpose vehicles (SPVs), concession agreements, and the rising role of public-private partnerships (PPPs) in infrastructure financing. Through a corporate-sector lens, directors will learn how to question assumptions, challenge management’s capital allocation, and guide risk governance in complex financing decisions.
Modern corporations increasingly rely on project finance and structured funding models to undertake large-scale ventures—energy facilities, transportation networks, digital infrastructure, and industrial expansion. Unlike traditional corporate lending, project finance isolates risk in a special purpose vehicle (SPV), employs non-recourse financing, and often involves infrastructure bonds or PPP concessions.
Board members face the challenge of ensuring these structures deliver shareholder value without exposing the enterprise to unsustainable risks. Questions directors must grapple with include:
- Should growth be funded through debt financing, with its tax advantages but heightened leverage?
- Does raising equity capital safeguard flexibility at the cost of dilution and reduced earnings per share?
- When does project finance deliver value through risk-sharing, and when does it mask hidden liabilities?
- How should boards evaluate project returns using IRR, payback period, DCF, and enterprise value metrics?
- What role do KRIs and risk prioritization frameworks play in monitoring capital-intensive infrastructure ventures?
This course provides directors with the tools to frame these questions, interpret management reports, and ensure financing decisions strengthen—not weaken—the company’s strategic position.
Objectives
By the end of this program, participants will be able to:
- Distinguish debt vs. equity financing at a boardroom level, weighing strategic implications for shareholder value and flexibility.
- Evaluate project finance models—SPVs, concession agreements, PPPs, and infrastructure bonds—through the lens of risk-sharing and long-term enterprise value.
- Apply investment evaluation metrics (IRR, payback period, DCF, enterprise value) to board-level decision-making.
- Oversee risk governance through KRIs, risk metrics, and prioritization, ensuring directors identify material risks early.
- Guide resource allocation across competing projects, balancing financial return with strategic positioning.
- Challenge management assumptions in feasibility studies, capital structures, and project cash flow forecasts.
- Safeguard shareholder communication, aligning dividend policy, financing choices, and market perception.
Target Audiences
This course is tailored for senior decision-makers, including:
- Board Members & Non-Executive Directors overseeing corporate financing and long-term capital investment.
- CEOs & CFOs seeking alignment between capital markets expectations, financing strategies, and growth investments.
- Infrastructure & Project Sponsors managing SPVs, PPPs, and long-term concession agreements.
- Private Equity & Institutional Investors with board seats in companies pursuing capital-intensive expansion.
- Risk & Audit Committee Members tasked with evaluating financial resilience, liquidity, and project risks.
- Corporate Governance Professionals shaping shareholder communication around financing and project allocation.
Course Modules
Module 1: Debt and Equity Financing – Strategic Trade-offs
- Debt financing: Bonds, syndicated loans, convertible debt, tax shields, and leverage benefits.
- Equity financing: IPOs, rights issues, private placements, and implications for dilution.
- Boardroom concerns: Credit ratings, refinancing risk, voting power dilution, and signaling to capital markets.
- Case Example: A board considering whether to issue infrastructure bonds to finance a power project versus raising equity capital to maintain liquidity.
Module 2: Project Finance Structures – SPVs and Non-Recourse Financing
- SPVs: Isolating project risk from parent balance sheets.
- Non-recourse financing: Shifting risk to lenders and project cash flows.
- Risk-sharing frameworks: Sponsors, lenders, contractors, and governments.
- Concession agreements & PPPs: Allocating operational risk between public and private sectors.
- Boardroom Lens: Directors evaluate whether the SPV’s risk profile could inadvertently flow back to the parent company through guarantees.
Module 3: Investment Evaluation – IRR, Payback, DCF, and Enterprise Value
Boards need clarity on whether projects create or destroy value:
- IRR vs. WACC: Does the project exceed the hurdle rate?
- Payback period: Liquidity recovery vs. long-term value.
- DCF: Stress-testing assumptions in feasibility studies.
- Enterprise value impact: Beyond accounting returns—does the project strengthen strategic positioning?
- Practical Exercise: Directors review a project feasibility study and challenge management’s growth and cash flow assumptions.
Module 4: Infrastructure Investment – Long-Term Strategic Considerations
- Infrastructure bonds: Funding mechanisms and investor appetite.
- PPP models: Risk allocation and political implications.
- Feasibility studies: Sensitivity testing for demand, pricing, and operating costs.