Project Finance Covenants template aims to appraise users with Project Finance Fundamentals Like:

1. Cash Waterfall
2. Cash Flow Available for Debt Service (CFADS)
3. Debt Service Coverage Ratio
4. Debt Service Reserve Account
5. Loan Life Coverage Ratio
6. Project Life Coverage Ratio
7. Project IRR
8. Equity IRR

The template is designed to include calculations on Quarterly Basis. Please refer to sheet wise details below:

1. Assumptions: The user can Input the Construction Start Date and Construction Term. Operations are expected to start from the next day of the construction end date and the user can input operations terms to calculate the operations end date. All the flags and model timelines will automatically account for these changes. Users can also add various other assumptions like Debt Equity Ratio, Tax Rate, Interest rate, etc. This template can incorporate ten scenarios at a time and the user can switch to the desired scenario using the switch in cell D5.

2. CFADS: This sheet includes the calculation of CFADS. Users can input the desired numbers in the yellow-shaded cells. Please note that all the inflows are to be added as Positive numbers and Outflows are Negative numbers.

3. DSCR & DSRA: This sheet includes calculations for DSCR and DSRA based on inputs provided on the Assumptions and CFADS sheet.

4. LLCR: This sheet includes a calculation for LLCR based on inputs provided on the Assumptions and CFADS sheet.

5. PLCR: This sheet includes a calculation for PLCR based on inputs provided on the Assumptions and CFADS sheet.

6. IRR: This sheet includes a calculation for Equity and Project Level IRR based on inputs provided on the Assumptions and CFADS sheet.