This Real Estate Debt Structures and Financial Modelling Course will cover the following topics;

• Sources of Funds & Lending Criteria
• Insurance companies and pension funds
• High street and corporate banks
• Debt funds and public markets
• Mezzanine finance houses
• Debt Covenants & Calculations
• Operational Covenants: asset maintenance, disclosure requirements, insurance and credit line
• Financial Covenants: interest cover ratio, debt service coverage, loan to value
• Senior Debt Financial Modelling
• Debt Modelling
• Interest Only
• Constant Amortisation
• Constant Repayment
• Rolled-Up Interest
• Cash Sweep
• Cash Trap
• Revolving Facilities
• Case study: office building debt lending in the UK (I)
• Development finance
• Mezzanine finance
• Modelling mezzanine structures
• Overview of inter-creditor agreements
• Mezzanine interest and fees
• Debt Prioritisation
• Modelling cash flow waterfall
• Coupon and capital repayment schedule and prioritisation
• Maximum loan amount
• Credit Analysis
• Stress test
• Capital adequacy calculations

Course Booking

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