Test debt service against project cash flows, DSCR, LLCR and tenor.
Project Finance Bankability Platform
Fix What Is Keeping Your Project From Financial Close
Large infrastructure projects rarely stall because nobody can find a lender. They stall because debt capacity, sponsor equity, construction risk, contracted revenues, security and the proposed capital structure do not yet support institutional underwriting.
- Determine sustainable senior debt capacity
- Identify the specific issues preventing bankability
- Restructure debt, equity and risk allocation where required
- Build a financing roadmap toward institutional capital
Infrastructure, energy, industrial and real-asset projects.
Review EPC, completion, offtake, operating, currency and country risk.
Determine the appropriate mix of debt, equity and subordinated capital.
Establish the work required to move the project toward financial close.
Why Projects Stall
A Good Project Can Still Be a Bad Financing Transaction
Technical feasibility and commercial potential are only part of the credit case. A lender must also be comfortable with who bears construction risk, how revenues are generated, how much equity is committed, how debt service is protected and what happens when the downside case occurs.
The Requested Debt Is Too High
The sponsor may request 70% or 80% leverage while project cash flows support materially less once coverage ratios and downside scenarios are applied.
Critical Risks Sit With the SPV
Cost overruns, completion delays, merchant exposure, currency mismatch or weak counterparties can make otherwise attractive projects difficult to finance.
The Financing Structure Is Incomplete
Senior debt may require additional sponsor equity, subordinated capital, guarantees, reserves or credit enhancement before the transaction becomes viable.
Bankability Assessment
Identify the Constraints Affecting Institutional Underwriting
Financely evaluates the project across the financial, contractual, technical and structural areas that influence debt capacity and lender appetite.
Track record, financial capacity and equity commitment.
CAPEX, OPEX, revenues, margins and cash-flow resilience.
DSCR, LLCR, PLCR, leverage, tenor and amortization.
PPAs, concessions, availability payments and contracted revenue.
Price certainty, completion support and delay exposure.
O&M structure, operating costs and technical performance.
Assets, shares, accounts, contracts and lender controls.
Currency mismatch, transfer risk and sovereign exposure.
Illustrative Output
Turn the Funding Ask Into a Financeable Capital Structure
The platform moves beyond the headline project cost and identifies the debt capacity, equity requirement and structuring work needed to support the transaction.
Illustrative Project Cost
$75M
Senior Debt Capacity
USD 46M–51M
Sponsor / Equity Requirement
USD 18M–22M
Financing Status
Structural remediation required
Example Financing Constraints
Foreign-Currency Exposure
Project revenues are denominated in local currency while the proposed senior facility is denominated in USD.
Completion Support
EPC documentation requires stronger protection against delay, cost overruns and failure to achieve completion.
Sponsor Equity
Proposed sponsor contribution is below the level required to support the targeted senior leverage.
Recommended Structure
Resize senior debt, increase sponsor capital and mitigate currency and completion risk through appropriate contractual or credit support.
Capital Structuring
Determine Which Capital the Project Can Support
Financely can assess how different layers of capital interact with project cash flows, lender coverage requirements and sponsor economics.
Long-term secured debt sized against project cash flows.
Subordinated capital where senior leverage alone is insufficient.
Structured equity positioned between debt and common equity.
Required sponsor contribution and first-loss capital.
Completion, payment or credit support where appropriate.
Structures designed to improve lender risk allocation.
Development, concessional and commercial capital structures.
Potential mitigation for projects generating domestic-currency cash flow.
How It Works
From Project Review to Financing Execution
The bankability process establishes what the project can support, what needs to change and whether it is ready to progress toward institutional capital placement.
Project Review
Review the development stage, economics, contracts, sponsor and capital requirement.
Bankability Analysis
Identify the financial and structural constraints affecting lender underwriting.
Structuring
Determine sustainable debt, required equity and potential subordinated capital.
Financing Roadmap
Define the work required to progress toward transaction execution and capital placement.
Financing Readiness
Build the Documentation Behind the Credit Case
The assessment reviews whether the core evidence required to support the financing structure is available and sufficiently developed.
Financial model and sensitivities
Feasibility study
EPC contract or term sheet
O&M arrangements
PPA or offtake agreement
Concession documentation
Land rights and site control
Permits and regulatory approvals
Sponsor financial information
Equity commitment evidence
Construction budget and schedule
Technical reports
Environmental and social studies
Insurance framework
Security structure
SPV documentation
Project Types
Built for Infrastructure and Capital-Intensive Projects
The platform is suited to sponsors and developers preparing substantial real-asset transactions for institutional financing.
Hydropower & Dams
Renewable Energy
Power Generation
Transmission
Water Infrastructure
Transportation
Ports & Logistics
Data Centers
Industrial Projects
Mining Infrastructure
Waste & Utilities
Real Assets
Beyond the Assessment
Move From Bankability Into Project Finance Execution
The bankability assessment can become the foundation for a broader financing mandate. Where appropriate, Financely can support capital structuring, transaction preparation, lender positioning and institutional capital placement.
This allows sponsors to solve the transaction issues first and then approach capital providers with a defined financing requirement, coherent risk allocation and an evidence-backed credit proposition.
Project Finance Bankability
Find Out What Is Standing Between Your Project and Financial Close
Request a project finance bankability assessment to identify financing constraints, determine sustainable debt capacity and establish the structural work required to move the transaction toward institutional capital.
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