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I'm looking for a set of exercises that teach how to build a project finance spreadsheet.

I accept there may be no typical project finance, but there are a lot of principles are shared in common across a lot of projects. The debt/ equity split, setting hurdle rates, calculating IRR, looking at how yields vary depending on various outcomes, tiered senior debt / subordinate debt / different types of bonds (deep-discount, income, convertible, etc) / equity.

I'm working my way through various books on the subject: Yescombe's "Principles of project finance", Tan's "Principles of Project and Infrastructure Finance", Merna & Njiru's "Financing Infrastructure Projects", and so on.

Now I'm looking for some electronic resources: specifically, a way to start building example project-finance spreadsheets, to analyse the structure of project-finance deals, to teach myself, in stages, how to build such a thing.

Please can you point me at some suitable resources?

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    $\begingroup$ It's possible that I'm wrong, but I think that project financing is off-topic. $\endgroup$
    – Shane
    Commented Oct 29, 2012 at 21:50
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    $\begingroup$ @Shane - the FAQ says that financial engineering is on-topic. A project finance spreadsheet is a piece of financial engineering quantitative analysis. So I figured it should be on-topic here. $\endgroup$
    – 410 gone
    Commented Oct 30, 2012 at 13:09

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In my estimation, you are best-served by creating these sheets from scratch. There are a number of reasons for this:

  1. You will thoroughly understand the underlying machinations of each calculation

  2. You can customize to your specific needs, and so on...

If you are looking for some decent introductory texts, I have benefited from Moyer Excel Templates.

More generally, I would consult Excel/VBA texts as they will show you some useful tools on how to streamline some of your spreadsheets, assuming you want them to be in .xls format.

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I'm not aware of any exercises. You do not mention whether you tried Google. A good set of spreadsheets is on the Home Page for Aswath Damodaran. You could convert it into "exercises" by first working through them yourself and then comparing to Damodaran's solution (or whether it gives the same results).

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