project finance

Any chance there are active PF bankers here? Looking to connect and get some advice.

22 Aug 2022

Hello bored analysts! So as the title says im graduating in a couple of months with no relevant experience and a low GPA. I do, however, have a rough long term plan. The Plan: Get some decent paying finance job for several years in order to save up for a quality MSF. Hopefully then get a role in the...

20 Sep 2022

Long term reader, first time poster here! I've been a levfin analyst for the last c.12 months, I've recently become drawn to the world of Project Finance. I think the deals are fascinating, and push to net zero / renewables is only going to increase volume and value of deals going on - I want to be...

26 Aug 2022

Hard to pick out the right forum for this one. Anyway, for those that are interested in working at project finance lenders or infra PE, how is federal government experience looked upon? More specifically, how are the following agencies regarded: * DFC (what OPIC morphed into after they merged with...

16 Jul 2020

I've been trying to break into project finance and would like your guys' input. A lot of positions I've seen online (both in project finance and infra PE) say the CFA is a nice to have, so I signed up to take L1 this December (whether that actually happens is another story). However, as we all know,...

29 Sep 2020

Hello all, I recently joined an infra debt house that is relatively new and is very unique. I'm the most junior member on the credit team, which is relatively small overall. One thing that really sucks is because of how new the firm is we don't have any paid or free infra news subscriptions. Are...

05 Apr 2022

Hey guys! For the context, I'm French, 24 y.o., top 3 French engineering school and top 3 MSc Finance in the UK! That being said, Im coming to you as I plan to redirect from IB - where I was doing Project Finance - to trading. I feel like it's the only field of finance where it will be quantitative...

15 Mar 2022

Dear Forum, Confused and need your advice. I have to decide between these two offers: I – Project/infrastructure advisory at a big 4 II – Project/Infrastructure rating team at a top credit ratings agency My background: I have recently completed my post-grad in Finance and have about 3.5 years of...

05 Feb 2022

Hi all, Long-time reader, first-time poster from Singapore. Quick summary of my background: Graduated in 2018, and started working for the Infrastructure Advisory team of a Big 4 firm in 2019. It piqued my interest in the infrastructure financing space, but growing in the role was tough, as our team...

10 Feb 2021

Hi I will be starting as a full-time analyst at a BB in their Public Finance IB group (firm usually ranked top3 in muni underwriting). I was wondering how I could break into Infrastructure PE later on in my career? I know Public Finance and Infrastructure Investing have slight similarities and major...

25 May 2020

Can any kind soul please share the thought process behind debt sizing based on dscr? I have found myself in a weird situation of being in infra investing on the buy side with no prior background in project finance. My firm looks to buy loans post financial completion so we are never part of the...

14 Sep 2021

Hi all, I am late stages in an interview process with a big 4 Infrastructure Advisory team and the interviewer mentioned the next stage will be a 2 hour modelling test then an interview to discuss the analysis/recommendations. I am from Australia and the interviews so far have not been in person due...

01 Nov 2020

So the title is a bit clickbait - I completely understand each career has its own merits and each individual enjoys different things. I've been in public finance for about 4 years now. Looking to potentially exit. The lowering spreads, lack of strong analytical work and pitching/RFPs amongst other...

07 Feb 2020

tl;dr Is doing infrastructure Project Finance to break into infrastructure M&A a good plan? I have been looking to break into infrastructure M&A (as an off-cycle intern) recently but am having a hard time, mostly because I have no infrastructure experience. Quick background: Econ graduate from a top...

22 Nov 2021

I've been on the idea of transitioning into project finance from public finance for some time now at the associate level. It seems like the project finance space isn't hiring a lot right now with COVID. Is this a realistic transition or would I need to consider getting my MBA? Do teams generally...

11 Jul 2020

Studying to try and find a career in project finance. Hoping to get an interview about P&U. Haven't seen much in the way of PF specific models/cases for interviews. Is a DCF something that may be asked? IRR/NPV analysis? Any help or advice appreciated.

10 Feb 2021

I've been working in project finance for a full 2 years now and I want to get into M&A. I have a strong interest in companies within the STEM fields and would love to join a team that has anything to do with that general area, whether it be new tech, aerospace, physics. I really think the field of...

09 Jul 2021

I majored in politics abroad (2nd best university) and speak 4 languages. After graduation I did an internship in an investment company (top finance investment company in the country) doing finance project (oil&gas) without any finance knowledge. I self-studied basic accounting and financial...

13 Dec 2017

Does anyone have any insight on KPMG's Infrastructure Advisory group? It looks like they are in a good spot within the league tables for financial advisers in the space. But also looks like they do model auditing. What would the differences be working for a bank, versus big 4, that does financial...

09 Dec 2020

Hi Everyone, I recently graduated from non target with dual Finance and Economics degree (3.6 GPA). I got a job at small valuations company (around 100 people). My colleagues keep telling me that this is project finance group. However, from what I read on this forum this is not "real project...

27 Jun 2019

Hi all, I'm being asked to model the levered and unlevered returns for a Greenfield solar project in LatAm. The project life IRR is easy of course, but I don't know what you all might recommend for how PE funds would look at a project like this in terms of exit multiples - the asset would be fully...

18 Oct 2021

Hi monkeys, What are your best practices for quickly processing/pricing potential opportunities and determining whether or not they are profitable. I'm talking about a quick first pass that takes a few hours to put together and summarize for a director. I'm working at a family office that's building...

26 Feb 2020

I'm looking to get into project finance from public finance but I'm a little confused on the industry players. From the search function I'm of the understanding that Japanese/French/English banks dominate this space. If I'm wanting to look at those who structure and run the deal, should I be looking...

14 Feb 2020

Hi Monkeys, First I want to thank everyone on this forum, even the shitposters,for teaching me so much more about the financial world, an industry I knew virtually nothing about. If it weren't for WSO, I'd probably be a public sector employee living off the taxpayer's teat. I transferred to and...

30 Dec 2019

Hey guys, I got an offer (SA) for Morgan Stanley's Global Capital Markets division, as they separate it from traditional investment banking. It's made up of 5 parts--ECM, DCM, Clients Solutions, Lev Fin and Project Finance. I want to do a great job this summer and try and move into actual IB,...

18 Apr 2016

What's the outlook for project finance with COVID-19? It looks like issuance is down ~50% YTD. Are deals line up just waiting for the market to execute? I've heard of a couple that have gone through recently with significant yield premium. There were a good amount of job postings right before...

04 Jun 2020

I am supposed to be updating my firm's website and am having trouble wording one of our activities. Does anyone know what the technical term would be for the following transaction; Say you are a commodity trading firm. A mine operator wants to invest in a new mine. Rather than taking out a loan,...

20 Sep 2010

Hi, I was curious if anyone had any insight on what it is like working in a project finance role for a government agency? The position would be working on 3P infrastructure transactions for the most part. How are the exit opps after a role like this? Are you branded as a government or project...

07 Dec 2016

I have read most of the project finance exit opps threads here and I notice: 1) the lack of response from the WSO community 2) if there is a response, the answer is PE energy/infra funds Because of 1), I want to try again, as there might be other people like me, an explorer in this field. My concern...

29 Dec 2012

Hello, To introduce myself, I am a second year Valuation & Business Modeling consultant at a Big 4 firm in Tokyo. I graduated undergrad with a 3.96 from a regional target (my school is somewhat well known but is top ten in the nation for international business majors). I am a pasty white American...

19 Jan 2014

Hello all, I'm interested in finding quality primer level information that describes the various financing options for an infrastructure project. As a CFO/management team think about how to capitalize their assets (let's exclude renewables for now due to the tax equity component), how to think...

08 Nov 2019

good place to work? have an interview for a business analyst position upcoming. in shanghai.

26 Jun 2013

Hi everybody, After long time on a PhD program in China, I couldn't stand the student life and academic culture there anymore and asked to leave the program for couple years. I've been offered a position in a international EPC company, mainly focused on solar projects in South and potentially North...

13 Dec 2017

Hi all, I just finished interviewing for a project finance position and received an offer. I wanted some suggestions as to what I should consider before accepting the offer. The base salary is solid and more than I was expecting to get from a job right out of school (still finishing my last four...

01 Jul 2021

I am a partner at an investment banking boutique in Brazil. We have a client that is a commodities trading company and it's starting a fertilizers business, but we are having a lot of difficulties in finding a bank or investor willing to finance this project. Does anyone suggest some bank/investor...

21 Aug 2017

It's a challenging deal environment out there for infrastructure investors. Particularly for credit investors, as borrowers can tap into so many sources of cheap credit: 1. For public companies, since bond markets are rocking there is no interest in a non-recourse financing with an asset manager. 2....

28 Feb 2021

Hi everybody, Since 2 years ago I have felt very attracted to project finance and IB in general. I took a class in project finance, and read some books, but I don't have an economics/finance background. I am currently a PhD candidate at a top university in China, and recently got a scholarship to go...

12 Apr 2014

Hello, this is a noob question but one I could not find an answer for in my search of the various threads on the forum. When a developer/sponsor is seeking to raise additional equity, or raise debt financing, do they pay for the equity and credit investors legal fees? I seem to recall the convention...

10 May 2021

I received two offers from Macquarie and BNP Paribas as an associate in their project finance team. Both teams are cordial and offer similar compensation. Who would you guys pick? Somethings to considered are work/life balance and long-term career growth. Was wondering if both banks offer any perks...

21 Nov 2013

Hi all, Below are attached the Global 2012 DCM rankings. If there is interest, I can post similar tables on: ECM, M&A, Loans, Trade Finance, Project Finance. Call your attention to the first chart, you'll see the deep cuts that Citi and UBS have made reflected in their dropoffs from 2011 levels....

17 Jan 2013

First time writing at WSO. I've been spectator for some time - finding this website has been the best thing ever happened to me. I'm saying this because now I have few decisions to make! FYI. I have always been interested in infrastructure and project finance. Option 1) Public Finance role at BB...

17 Oct 2017

I'm a career switcher who just finished my 1st year MBA at a target school. I still don't know much about finance but definately know a lot more than before. People always talk about how important transaction experience is. Can someone tell me whether what I'm doing right now as an Intern in...

14 Jun 2011

Just had a 2nd round interview with a boutique specializing in renewable energy project finance. The MD asked me as to what value will I bring to the firm? I replied that Energy Investment Banking sector requires engineering expertise and also financial skills; therefore I believe that I will bring...

25 Sep 2010

What kind of exit opportunities at Associate 2/3 level in Project Finance with a top player? Post- Project Finance Jobs While many people go into project finance expecting that they will build a career there, it's not unusual to want to make a move for further career development. Some moves will be...

30 Oct 2010

I'm currently finishing my second year on a MO Finance Grad scheme at a tier 1 IB (GS/JP/MS), and I have recently received an offer for a Project Finance role at a small boutique ( FO jump internally after finishing the grad scheme?

02 Aug 2018

Hello Sir/Ma, I'm Appavdoo from Indian but presently in UK for work.. i work as financial consultant for my clients, am direct mandate to the provider of bank instruments such as (SBLC/FC BG & LC) We have this instruments for lease/purchases and we can deliver instruments strictly with our terms...

14 Sep 2017

I had a phone interview at a Renewable Energy company for a financial analyst job that is responsible for primarily creating and updating project pro forma spreadsheets, evaluating restructuring and buyout opportunities. The director I interviewed with said that HR would be in contact with me and...

10 Sep 2017

I have been trying to break into IB since I graduated last year with no luck. I realize though I really want to get into project finance (infrastructure loans) and am considering to focus on credit roles. From what I understand credit risk way to get into the industry. However, I met a Project...

27 Aug 2014

Monkeys... Need your advice on whether to go get top MPA (SIPA/HKS/Princeton) after my MBA So I'm on my last year at usc, and my passion is somewhere in infrastructure / project finance or even public finance, due to my background, but I haven't had any success breaking in... I didn't like my...

28 Oct 2015

All, I have a project finance modelling test with a bank that's known in this field (MUFG/BNP/ING), anyone done modelling tests with them before? Keen to understand what to expect. Happy to DM if it's easier, cheers.

29 Sep 2022