Key steps in financing a project
Key steps in financing a project

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Key steps in financing a project
  • Initiating a project—before seeking finance
  • Lenders' perspective on a project—assessment of risks
  • Lenders' perspective on a project—due diligence
  • Overview of key steps in a typical project

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), but the UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit to the continuing jurisdiction of the Court of Justice of the European Union in accordance with the transitional arrangements in Part 4 of the Withdrawal Agreement. For further reading, see: Brexit—introduction to the Withdrawal Agreement. This has an impact on the information regarding public procurement in this Practice Note. For guidance, see News Analyses: Deal or no deal―how will Brexit impact public procurement? and Commercial: Brexit and Public procurement.

In addition, UK government has published high-level guidance on public procurement post-Brexit:

  1. Public-sector procurement under the EU Withdrawal Agreement, and

  2. Public-sector procurement after a no-deal Brexit

Most projects require some form of debt financing. The debt element of the funding for a project is typically referred to as 'project finance'.

While no two project finance transactions are ever the same, there are certain