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Author: Jeffrey Delmon
Publisher:
ISBN: 9789041123657
Category : Construction industry
Languages : en
Pages : 0
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Book Description
Project and other structured finance models have become a method of choice for financing infrastructure projects in many different sectors across the globe. They allow greater flexibility for governments and project sponsors wishing to develop infrastructure without the concomitant burden on their balance sheets and their ability to fund other needs and priorities. However, the fall of Enron, WorldCom and so many other organisations who pushed the structured finance model one step too far has raised alarm bells. Has project and structured finance seen the end of its useful life? Are the risks surrounding such projects so extreme as to bring into question their usefulness? The viability of structured infrastructure projects relies on a comprehensive, yet sensible assessment of risk and allocation of that risk in an efficient manner. Yet our understanding of efficient risk allocation often runs contrary to the actual risk allocation models that we apply to such projects. Risk analysis for complex projects requires a level of sophistication and objectivity of which few individuals are capable. Jeff Delmon's book addresses the many issues around risk and structured infrastructure projects. It is not a dry legal treatise, but an eminently readable and practical explanation of efficient risk allocation and the contractual framework which forms the bedrock of BOT and other project finance transactions. Based on Jeff's practical experience in the sector, this book provides practical guidance and insight into many of the pitfalls often encountered in such projects. This book is ideal for those relatively new to the issues surrounding project finance and risk as well as those with significant experience as an aide-memoire and a challenge to the approaches to risk allocation that are so often applied to such transactions.
Author: Jeffrey Delmon
Publisher:
ISBN: 9789041123657
Category : Construction industry
Languages : en
Pages : 0
Get Book Here
Book Description
Project and other structured finance models have become a method of choice for financing infrastructure projects in many different sectors across the globe. They allow greater flexibility for governments and project sponsors wishing to develop infrastructure without the concomitant burden on their balance sheets and their ability to fund other needs and priorities. However, the fall of Enron, WorldCom and so many other organisations who pushed the structured finance model one step too far has raised alarm bells. Has project and structured finance seen the end of its useful life? Are the risks surrounding such projects so extreme as to bring into question their usefulness? The viability of structured infrastructure projects relies on a comprehensive, yet sensible assessment of risk and allocation of that risk in an efficient manner. Yet our understanding of efficient risk allocation often runs contrary to the actual risk allocation models that we apply to such projects. Risk analysis for complex projects requires a level of sophistication and objectivity of which few individuals are capable. Jeff Delmon's book addresses the many issues around risk and structured infrastructure projects. It is not a dry legal treatise, but an eminently readable and practical explanation of efficient risk allocation and the contractual framework which forms the bedrock of BOT and other project finance transactions. Based on Jeff's practical experience in the sector, this book provides practical guidance and insight into many of the pitfalls often encountered in such projects. This book is ideal for those relatively new to the issues surrounding project finance and risk as well as those with significant experience as an aide-memoire and a challenge to the approaches to risk allocation that are so often applied to such transactions.
Author: Jeffrey Delmon
Publisher: World Bank Publications
ISBN: 9780821377864
Category : Political Science
Languages : en
Pages : 0
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Book Description
This book provides a practical guide to public-private participation (PPP), how governments can enable and encourage PPP, step by step analysis of the development of PPP projects, how PPP financing works, what PPP contractual structures look like and most importantly how PPP risk allocation works in practice, including specific discussion of each infrastructure sector. It will be of interest to policy makers and strategists.
Author: E. R. Yescombe
Publisher: Academic Press
ISBN: 0124157556
Category : Business & Economics
Languages : en
Pages : 575
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Book Description
The Second Edition of this best-selling introduction for practitioners uses new material and updates to describe the changing environment for project finance. Integrating recent developments in credit markets with revised insights into making project finance deals, the second edition offers a balanced view of project financing by combining legal, contractual, scheduling, and other subjects. Its emphasis on concepts and techniques makes it critical for those who want to succeed in financing large projects. With extensive cross-references and a comprehensive glossary, the Second Edition presents anew a guide to the principles and practical issues that can commonly cause difficulties in commercial and financial negotiations. - Provides a basic introduction to project finance and its relationship with other financing techniques - Describes and explains: sources of project finance; typical commercial contracts (e.g., for construction of the project and sale of its product or services) and their effects on project-finance structures; project-finance risk assessment from the points of view of lenders, investors, and other project parties; how lenders and investors evaluate the risks and returns on a project; the rôle of the public sector in public-private partnerships and other privately-financed infrastructure projects; how all these issues are dealt with in the financing agreements
Author: Jeffrey Delmon
Publisher: Kluwer Law International B.V.
ISBN: 9041162755
Category : Law
Languages : en
Pages : 844
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Book Description
Investment in infrastructure is critical to economic growth, quality of life, poverty reduction, access to education, good quality healthcare, and achieving many of the goals of a robust and dynamic economy. However, infrastructure is difficult for the public sector to get right. This remarkably insightful and enormously useful book, now in its third edition, shows how the private sector (through public–private partnerships – PPP) can provide more efficient procurement through cheaper, faster, and better quality; refocus infrastructure services on consumer satisfaction and life cycle maintenance; place the financial burden of providing infrastructure on consumers rather than taxpayers; and provide new sources of investment, in particular through limited recourse debt (i.e., project financing). Taking the particular challenges associated with PPP fully into account. this book provides a practical guide to PPP in all the following ways and more: - how governments can enable and encourage PPP; - how PPP financing works; - what PPP contractual structures look like; and - most importantly, how PPP risk allocation works in practice. Specific discussion of each infrastructure sector is provided. Lawyers and business people, civil engineers, economic development officials and specialists, banking and insurance professionals, and academics will all find the ground well covered in this book, as well as new ground broken.
Author: Scott L. Hoffman
Publisher: Cambridge University Press
ISBN: 1139468855
Category : Law
Languages : en
Pages : 7
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Book Description
This 2007 third edition continues to be a comprehensive and authoritative guide to the business, practice, law, and practical use of project finance. It covers the complete project finance structure, from conception to negotiation to debt closing, and from project difficulties to successful restructuring. The book continues to be accessible to those with little experience in project finance, while maintaining the insight and detail of previous editions that has made it a valuable reference for the experienced lawyer, manager, banker, contractor, and government official. This edition focuses on a real-world, practical approach to project finance, without the overuse of case studies and economic theory. Yet the contract forms, detailed glossary, index, and project finance bibliography make it a complete text.
Author: Peter K. Nevitt
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 386
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Book Description
Author: Scott Hoffman
Publisher: Martinus Nijhoff Publishers
ISBN: 9004502254
Category : Law
Languages : en
Pages : 524
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Book Description
Author: Stefano Gatti
Publisher: Academic Press
ISBN: 0123919460
Category : Business & Economics
Languages : en
Pages : 495
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Book Description
Stefano Gatti describes the theory that underpins this cutting-edge industry, and then provides illustrations and examples from actual practice to illustrate that theory.
Author:
Publisher: UN
ISBN:
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
Provides both a general overview of the conceptual, legal and financial issues associated with BOT projects and practical guidance for project development, negotiation and implementation.
Author: Esteban C. Buljevich
Publisher: Springer Science & Business Media
ISBN: 0585315612
Category : Business & Economics
Languages : en
Pages : 311
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Book Description
Since the 1970s, the practice of financing major private and public sector capital-intensive projects has shifted to an ever-greater reliance on private funding sources, as opposed to direct financing through the issuance of corporate or government bonds. In the 1990s, these financing practices have undergone further changes with the increasing globalization of capital markets, the growth of derivative instruments, and the rapid increase in information technology that enhances cash-management practices. Today's project financing market is increasingly using sophisticated capital market, bank and agency financing mechanisms as well as using derivative instruments for asset and liability management. Thus, financial market innovations are bringing the once separate fields of project financing and international finance more closely together. This is the first book to treat both topics as an interrelated whole, for contemporary project financing cannot be fully understood without a good working knowledge of the international financial markets that have developed the various financing techniques and funding sources being used. The book provides an in-depth description of cross-border project financing as a technique for financing capital-intensive projects, as well as an overview of certain financing and derivative instruments currently available in the global financial markets. The first part of the book provides an overview of certain funding and derivative instruments currently used in the international financial markets, including a general overview of financial innovations that have occurred in recent decades. Topics covered include an introduction to the syndicated Euro-credit market; an overview of various marketable debt securities actively used in the international financial markets; an introduction to depositary receipt as an innovative way of raising cross-border equity capital; an elaboration of the derivative instruments most commonly used in the project financing arena, including interest rate, currency and commodity swaps; and finally an overview of banks' off-balance sheet activities as a critical driving force for the participation of banks in the international financial and derivative markets. The second part of the book provides an in-depth analysis of project financing that concentrates on the financier's perspective. Topics covered include a general overview of the project financing industry; a step-by-step description of a typical cross-border project finance transaction; a description of the main characteristics and advantages of project financing as opposed to more traditional corporate lending practices; an overview of appraisal techniques for assessing project financing; a comprehensive analysis of the different risk management techniques used in project financing for reducing, distributing and hedging risks; and a brief overview of certain limited-resource financing schemes. The book includes a special focus on the various stages of the risk management process for project financing, elaborating on the different stages of risk identification, risk assessment, risk reduction, risk distribution and hedging and insurance. The authors also provide a comprehensive glossary of terms relating to international finance and project financing. This book will fulfill the need for an essential text on project financing as well as a professional reference guide.
