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Project Financing : Asset-Based Financial Engineering
- Author / Creator
- Available as
- Online
Details
- Format
- Books
- Language
- English
- Publication
-
- 3rd ed
- Newark : John Wiley & Sons, Incorporated, 2013
- ©2013
- Series
- Physical Details
-
- 1 online resource (561 pages)
- ISBNs
- 1118417593, 111857219X, 1118394100, 111920416X, 9781119204169, 9781118394106, 9781118572191, 9781299533882, 1299533884, 9781118417591, 1118421841, 9781118421840
- OCLC
- ocn829099213
- Project Financing: Asset-Based Financial Engineering -- Contents -- Preface -- Acknowledgments -- Chapter 1: What Is Project Financing? -- WHAT I S PROJECT FINANCING? -- A HISTORICAL PERSPECTIVE -- REQUIREMENTS FOR PROJECT FINANCING -- APPROPRIATENESS OF PROJECT FINANCING -- AN EXAMPLE -- CONCLUSION -- Chapter 2: The Rationale for Project Financing -- PRIOR STUDIES' EXPLANATIONS -- THE NEED FOR CONTRACTS -- THE ADVANTAGES OF SEPARATE INCORPORATION -- COUNTERING THE UNDERINVESTMENT PROBLEM -- REALLOCATING FREE CASH FLOW -- REDUCING ASYMMETRIC INFORMATION AND SIGNALING COSTS -- MORE E F F I C I E N T STRUCTURING OF DEBT CONTRACTS -- MORE EFFECTIVE CORPORATE ORGANIZATION AND MANAGEMENT COMPENSATION -- PROJECT FINANCING VERSUS DIRECT FINANCING -- ADVANTAGES OF PROJECT FINANCING -- DISADVANTAGES OF PROJECT FINANCING -- CONCLUSION -- Chapter 3: What Is Special about Large Projects? -- HOW LARGE ARE "LARGE" PROJECTS? -- LENGTH OF PROJECT CONTRACTS -- INITIAL PROJECT CAPITAL STRUCTURE -- WHY STUDYING PROJECT FINANCE I S USEFUL -- WHY STUDY HOW LARGE PROJECTS ARE F I NANCED? -- CONCLUSION -- Chapter 4: Who Finances Large Projects? -- SOURCES OF FUNDS FOR LARGE PROJECTS -- PROJECT BONDS' DEFAULT RISK -- LEAD ARRANGERS, MANAGING UNDERWRITERS, AND ADVISORS -- CONCLUSION -- Chapter 5: Analyzing Project Viability -- TECHNICAL FEASIBILITY -- ECONOMIC VIABILITY -- CREDITWORTHINESS -- CONCLUSION AS TO VIABILITY -- ASSESSING PROJECT RISKS -- COMPLETION RISK -- TECHNOLOGICAL RISK -- RAW MATERIAL SUPPLY RISK -- ECONOMIC RISK -- OPERATING RISK -- FINANCIAL RISK -- CURRENCY RISK -- POLITICAL RISK -- ENVIRONMENTAL RISK -- FORCE MAJEURE RISK -- IMPLICATIONS FOR PROJECT FINANCING -- THE COGENERATION PROJECT -- CONCLUSION -- Chapter 6: Analysis and Financing of Renewable Energy Projects -- WHAT I S SPECIAL ABOUT RENEWABLE E N E R G Y PROJECTS?
- INTERNATIONAL STANDARDS FOR PROMOTING ENVIRONMENTALLY AND S O C I A L L Y RESPONSIBLE INVESTING -- EVALUATING THE V I A B I L I T Y OF A RENEWABLE E N E R G Y PROJECT -- E X A M P L E : THE LA CONFLUENCIA HYDROELECTRIC POWER PROJECT -- THE LA CONFLUENCIA HYDRO ELECTRIC POWER PROJECT AND RESPONSIBLE INVESTING -- CONCLUSION -- Chapter 7: Designing Security Arrangements -- PURPOSE OF SECURITY ARRANGEMENTS -- DIRECTSECURITYINTEREST IN PROJECT FACILITIES -- SECURITYARRANGEMENTS COVERING COMPLETION -- SECURITY ARRANGEMENTS COVERING DEBT SERVICE -- TYPES OF PURCHASE AND SALE CONTRACTS -- RAW MATERIAL SUPPLY AGREEMENTS -- SUPPLEMENTAL CREDIT SUPPORT -- INSURANCE -- THE COGENERATION PROJECT -- CONCLUSION -- Chapter 8: Structuring the Project -- UNDIVIDED JOINT INTEREST -- CORPORATION -- PARTNERSHIP -- LIMITED LI A B I L I T Y COMPANY -- THE COGENERATION PROJECT -- CONCLUSION -- Chapter 9: Preparing the Project Financing Plan -- GENERAL CONSIDERATIONS -- CONSTRUCTION FINANCING -- LONG-TERM FINANCING -- WITHHOLDING TAX CONSIDERATIONS -- ESTIMATING THE BORROWING CAPACITY OF A PROJECT -- LOAN REPAYMENT PARAMETERS -- BORROWING CAPACITY, ASSUMING FULL DRAWDOWN IMMEDIATELY PRIOR TO PROJECT COMPLETION -- BORROWING CAPACITY, ASSUMING PERIODIC LOAN DRAWDOWNS -- APPLICATION TO A HYPOTHETICAL HIGH-SPEED RAIL PROJECT -- ANNUAL COVERAGE TESTS -- CONCLUSION -- Chapter 10: Discounted Cash Flow Analysis -- INCREMENTAL AFTER-TAX CASH FLOWS -- THE HURDLE RATE -- ESTIMATING THE COST OF CAPITAL FOR A PROJECT -- NET PRESENT VALUE ANALYSIS -- INTERNAL RATE OF RETURN ANALYSIS -- COMPARING IRR AND NPV ANALYSES -- CONCLUSION -- Chapter 11: Financial Modeling and Project Evaluation -- PREPARING CASH FLOW PROJECTIONS -- PREPARING PROJECTED FINANCIAL STATEMENTS -- EVALUATING A PROJECT'S DEBT CAPACITY -- MEASURING EXPECTED RATES OF RETURN -- SENSITIVITY ANALYSIS -- CONCLUSION
- Chapter 12: Using Real-Options Analysis to Evaluate a Project -- DESCRIPTION OF THE OIL FIELD PROJECT -- PROJECT'S REAL OPTIONS -- EVALUATING THE PROJECT -- TRADITIONAL DCF ANALYSIS -- SENSITIVITY OF OPTION VALUE TO OIL PRICE VOLATILITY AND TO RESERVE DISPERSION -- CONCLUSION -- Chapter 13: Sources of Project Funds -- EQUITY -- LONG-TERM DEBT MARKET -- COMMERCIAL BANK LOANS -- FIXED-RATE DEBT MARKET -- INTERNATIONAL CAPITAL MARKET -- SUPPLIER CREDITS -- GOVERNMENTAL ASSISTANCE -- WORLD BANK LOANS -- INTER-AMERICAN DEVELOPMENT BANK -- LOCAL SOURCES OF CAPITAL -- CONCLUSION -- Chapter 14: Managing Project Risks -- INTEREST-RATE SWAPS -- CREDIT DEFAULT SWAPS -- OPTIONS -- FORWARDS AND FUTURES -- HEDGING -- HEDGING WITH OPTIONS -- HEDGING FOREIGN EXCHANGE RISK -- CONCLUSION -- Chapter 15: Sharia-Compliant Project Financing -- WHAT I S ISLAMIC FINANCE? -- ISLAMIC FINANCIAL INSTRUMENTS -- ISLAMIC DERIVATIVES -- EXAMPLE: THE SAUDI CHEVRON PETROCHEMICAL PROJECT -- THE FUTURE OF ISLAMIC PROJECT FINANCE -- CONCLUSION -- Chapter 16: Issues for the Host Government -- CONTRIBUTION TO THE HOST JURISDICTION' S ECONOMIC DEVELOPMENT -- HOST JURISDICTION'S EXPECTED ECONOMIC RETURN -- IMPACT ON THE AVAILABILITY OF HARD CURRENCY -- EXPOSURE OF THE HOST GOVERNMENT TO THE PROJECT'S OBLIGATION TO REPAY PROJECT DEBT -- AVOIDING UNDESIRABLE PRECEDENTS -- HIBERNIA OIL FIELD PROJECT -- PUBLIC-PRIVATE INFRASTRUCTURE PARTNERSHIPS -- PUBLIC-PRIVATE FINANCING STRUCTURES -- LEGISLATIVE PROVISIONS THAT CAN AFFECT PUBLIC-PRIVATE PARTNERSHIPS -- CONCLUSION -- Chapter 17: Case Study: The Indiantown Cogeneration Project -- PROJECT DESCRIPTION -- THE PARTNERSHIP AND THE SPONSORS OF THE PROJECT -- PRINCIPAL PROJECT CONTRACTS -- PROJECTED OPERATING RESULTS -- PROJECT FINANCING -- CONCLUSION -- Chapter 18: Case Study: The Tribasa Toll Road Project
- THE MEXICAN GOVERNMENT' S TOLL ROAD PROGRAM -- INFRASTRUCTURE FINANCING ALTERNATIVES -- RISK CONSIDERATIONS IN FOREIGN INFRASTRUCTURE PROJECTS -- TRIBASA TOLL ROAD TRUST 1 FINANCING -- CREDIT ANALYSIS -- RISK MINIMIZATION FEATURES -- CONCLUSION -- Chapter 19: Case Study: The Euro Disneyland Project -- INTRODUCTION -- PROJECT DESCRIPTION -- DISNEY -- PROJECT OWNERSHIP STRUCTURE -- MASTER AGREEMENT WITH THE FRENCH GOVERNMENT -- PROJECT FINANCING -- INTERESTS OF THE PARTICIPANTS IN THE PROJECT -- FINANCIAL PROJECTIONS -- VALUATION -- CORPORATE GOVERNANCE ISSUES -- OPERATING RESULTS -- SUBSEQUENT DEVELOPMENTS -- CONCLUSION -- Chapter 20: Case Study: The Eurotunnel Project -- HISTORICAL BACKGROUND -- THE EUROTUNNEL SYSTEM -- PROJECT OWNERSHIP STRUCTURE -- CONSTRUCTION -- PROJECT FINANCING -- ECONOMIC RISK -- PROJECTED FINANCIAL RESULTS -- PROJECT DEBT FINANCING -- PROJECT EQUITY FINANCING -- SENSITIVITY ANALYSIS -- SUBSEQUENT DEVELOPMENTS -- CONCLUSION -- Chapter 21: Conclusion -- REAPING THE BENEFITS OF PROJECT FINANCING -- RECOGNIZING WHEN PROJECT FINANCING CAN BE BENEFICIAL -- POTENTIAL FUTURE APPLICATIONS OF PROJECT FINANCING -- ORGANIZATIONAL (RE)FORM -- FINANCIAL ENGINEERING -- Appendix A: Comparative Terms of Selected Projects -- Appendix B: Other Examples of Project Financings -- Appendix C: Legal Investment Requirements Governing New York Life Insurance Companies -- Notes -- Bibliography -- Websites -- Index