5-1 cofinancing operations commercial - christophe bellinger

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  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    1/19

    BCAKHOHBKHE C\JPOVKCHR

    Bcddjpbkoi BcakhohbkheBpjfkv Jhmohbjdjhv \ pcfzbvr

    Dohkio) ?1 Hcqjd`jp) 0

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    2/19

    Oejhfo

    Cjpkju ca Bpjfkv Jhmohbjdjhvr \pcfzbvr-BJ\r+

    Jikek`kikv{ Bpkvjpko acp Zrkhe Ezopohvjjr Borj Rvzf{

    OF@ Ezopohvjj or o `z{jp bpjfkv ezopohvjj

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    3/19

    OF@ Akhohbkhe Khrvpzdjhvr

    Pjkju

    Icohr acp rcjpjkeh -ukvm ECQ khfjdhkv{ vcOF@+ ohf hch$rcjpjkeh c|jpovkchr

    Jqzkv{ khjrvdjhvr Epohvr ohf vjbmhkboi orrkrvohbj

    Bpjfkv jhmohbjdjhv |pcfzbvr

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    4/19

    Umov opj Bpjfkv Jhmohbjdjhvr

    \pcfzbvr -BJ\r+ kh OF@3

    BJ\r opj |pcfzbvr vmov dkvkeovj cp ijrrjh pkrnr Khbizfj opkczr v{|jr ca ezopohvjjr bcjpkhe7

    \cikvkboi pkrnr ohf bpjfkv pkrnr -bcddjpbkoi ohf|cikvkboi+

    Icohr ohf ezopohvjj r{hfkbovkchr

    @ icoh> ezopohvjj$ca$pjbcpf) zhazhfjf pkrn|opvkbk|ovkchr) pjkhrzpohbj

    Dc`kikwj offkvkchoi akhohbkhe ohf ezopohvjjr ohf khrzpohbj

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    5/19

    Umc zrjr BJ\r3

    BJ\r opj zrjf `{ ijhfjpr) khjrvcpr) ohfj}|cpvjpr7

    Oh khfjdhkv{ -khrzpohbj+ Bpjfkv jhmohbjdjhv -icujp akhohbkhe bcrvr+

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    6/19

    Umc Caajpr BJ\r3

    Caajpjf `{ |z`ikb ohf |pkovj khrvkvzvkchr KAKr -OF@) Ucpif @ohn Epcz|) OAF@) KOF@) KF@+ J}|cpv bpjfkv oejhbkjr -ROBJ) BCAOBJ) CHF)

    HJ]K) Rkhcrzpj+ Orkoh J]KD @ohnr \pkovj |cikvkboi pkrn khrzpjpr -Iic{fr ca Ichfch) OKE)

    Rcjpjkeh) Wzpkbm) Zhkrvpov) jvb+ OKF oejhbkjr -OAF) RKFO) ZROKF+ Akhohbkoi khrvkvzvkchr kh vmj acpd ca bpjfkv fjaoziv

    ruo|r -&0: vpkiikch dopnjv+

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    7/19

    Um{ opj BJ\r Hjbjrrop{3

    Khjrvdjhv pjqzkpjdjhvr acp vmj Orko$\obkakb pjekch opj jhcpdczr7

    Pjekch pjqzkpjr &=

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    8/19

    Um{ opj Bpjfkv

    Jhmohbjdjhvr Hjbjrrop{3

    Ecjphdjhvr) OF@) ohf cvmjp fjjic|djhv|opvhjpr boh akhohbj chi{ o |cpvkch ca vmj

    odczhv ca khjrvdjhv pjqzkpjf Vmj akhohbkhe eo| ukii moj vc `j akiijf `{

    bcddjpbkoi `ohnr ohf khjrvcpr

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    9/19

    Bchrvpokhvr Oaajbvkhe

    Bcddjpbkoi Ijhfjpr kh FDBr

    \cikvkboi pkrnr bchvkhzj vc `j pohnjf or o dokhbchrvpokhv vc vmj aicu ca AFK kh FDBr

    \pkovj khjrvdjhv kh khaporvpzbvzpj kr oirc |jpbjkjf

    or mkem pkrn) jr|jbkoii{ umjh kv bcdjr vc pjeziovcp{ohf bchvpobvzoi pkrnr

    Hju `ohnkhe pjeziovkchr zhfjp @orji KK donj ijhfkhekh rcdj FDBr |pcmk`kvkji{ j}|jhrkj

    Icoh |pcqkrkchr acp rcqjpjkehr -@@@$B+ boh pohejapcd :

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    10/19

    Bchrvpokhvr Oaajbvkhe

    Bcddjpbkoi Ijhfjpr kh FDBr

    Kh vmj bzppjhv eic`oi jbchcdkb ohf akhohbkoibpkrkr) bcddjpbkoi ijhfjpr do{ `j mjrkvohv vcijhf) jr|jbkoii{ vc khaporvpzbvzpj |pcgjbvr khrcdj FDBr

    Acp doh{ ijhfjpr) rcdj acpd ca bpjfkv

    jhmohbjdjhv ukii `j pjqzkpjf

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    11/19

    @jhjakvr ca OF@ BJ\r

    Jhbczpoejr ijhfjpr ohf khjrvcpr vcakhohbj |pcgjbvr kh FDBr vmov vmj{ do{

    cvmjpukrj bchrkfjp vcc pkrn{ vc zhfjpvonj Ichejp dovzpkvkjr -j(e( ?2$?: {jopr+

    Icujp akhohbkhe bcrvr

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    12/19

    Jikek`kikv{ Bpkvjpko

    \pkcpkv{ rjbvcpr7 Khaporvpzbvzpj ohf Akhohbj Icohr `{ bcddjpbkoi `ohnr ohf

    rmopjmcifjpr) ohf `chfr

    Acpjkeh ohf icboi akhohbkoi khrvkvzvkchr ohfkhjrvcpr

    Ezopohvjjr kh acpjkeh j}bmohej cp icboibzppjhb{

    Iche vjpd ezopohvjjr -?: {jopr .+

    Z| vc ?

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    13/19

    Ezopohvjjr

    Rcjpjkeh r Hchrcjpjkeh C|jpovkchr

    OF@ boh |pckfj ezopohvjjr ukvm cp ukvmczvo rcjpjkeh bczhvjp$ezopohvjj

    Hcvj7 Fkaajpjhv vjpdr ukii o||i{ vc vmj ezopohvjjka vmjpj kr hc rcjpjkeh bczhvjp$ezopohvjj -j(e(mkemjp ezopohvjj ajjr) ohf icujp ezopohvjjodczhv

    J(e( 0< `|r ukvm bczhvjp$ezopohvjj> dopnjv$`orjfukvmczv bczhvjp$ezopohvjj

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    14/19

    \pcbzpjdjhv Ezkfjikhjr acp

    Ezopohvjjr

    \pcbjjfr boh `j zrjf chi{ acp |pcbzpjdjhvca eccfr ohf ucpnr rz||ikjf apcd OF@djd`jp bczhvpkjr

    Hjjf acp jbchcd{ ohf jaakbkjhb{ khkd|ijdjhvovkch

    Vpohr|opjhb{ kh vmj |pcbzpjdjhv |pcbjrr

    OF@ Ezopohvjjr Bcd|ijdjhv

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    15/19

    OF@ Ezopohvjjr Bcd|ijdjhvKhrzpohbj \pckfjf `{ JBOR ohf

    Khrzpjpr

    Boh `j zrjf vc ezopohvjj akhohbkhe hcvjikek`ij `{ oh JBO

    Boh `j zrjf vc ezopohvjj fcuh |o{djhvakhohbkhe

    Bcc|jpovkch ukvm JBOr ohf \PK |pckfjpr

    vmpczem rmopkhe ca pkrnr

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    16/19

    Borj Rvzf{

    OF@ Ezopohvjj Bcjpkhe o Hch$Mchcpkhe ca o Rcjpjkeh Ezopohvjj

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    17/19

    Ezopohvjj oeokhrv Hch$Mchcpkhe

    ca o Rcjpjkeh Ezopohvjj

    OF@

    Rcqjpjkeh@cppcujp

    @ohnDCA

    Rz||ikjp

    Eccfr ohf RjpqkbjrIcoh

    DCA Ezopohvjj

    OF@ Ezopohvjj

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

    18/19

    Ezopohvjj oeokhrv Hch$Mchcpkhe

    ca o Rcjpjkeh Ezopohvjj

    OF@

    Rcqjpjkeh@cppcujp

    @ohnDCA

    OF@ Ezopohvjj

    Icoh

    DCA Ezopohvjj

    Rz||ikjp?

    0

    2

    6

  • 8/14/2019 5-1 Cofinancing Operations Commercial - Christophe Bellinger

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    Acp azpvmjp khacpdovkch) |ijorj bchvobv7

    Mjof Caakbj ca Bcakhohbkhe C|jpovkchrOrkoh Fjjic|djhv @ohn

    1 OF@ Ojhzj) Dohfoiz{che Bkv{) \mkik||khjr

    Vji .12 0 120 12?6Ao} .12 0 121 06:1

    Jdoki7 bcakhohbkheLof`(cpe

    cp krkv czp uj`rkvj ov

    uuu(of`(cpe#Bcakhohbkhe#