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Project financing: asset-based financial engineering

Author: Finnerty, John D. Publisher: Wiley, 2007.Edition: 2nd ed.Language: EnglishDescription: 476 p. : Graphs/Ill. ; 24 cm.ISBN: 9780470086247Type of document: BookBibliography/Index: Includes bibliographical references and index
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Item type Current location Collection Call number Status Date due Barcode Item holds
Book Asia Campus
Main Collection
Print HG4028 .C4 F488 2007
(Browse shelf)
Available 900190626
Book Europe Campus
Main Collection
Print HG4028 .C4 F488 2007
(Browse shelf)
Available 001245103
Total holds: 0

Includes bibliographical references and index


--111-111.1 Project Financing : Asset Based Financial Engineering Project Financing : Asset Based Financial Engineering CHAPTER 1 What I Project Financing? s What is Project Financing? A Historical Perspective Requirements for Project Financing Appropriateness of Project Financing An Example Conclusion mm2 The Rationale lor 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 Efficient 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 How Large Are "Large" Projects? Length of Project Contracts Initial Project Capital Structure Why Studying Project Finance Is Useful Why Study How Large Projects Are Financed? Conclusion CHAPTER 4 Who Anancss Laros Projects? Sources of Funds for Large Projects Project Bonds' Default Risk Lead Arrangers, Managing Underwriters, and Advisors Conclusion CHAPTER 5 Analyzing P r m Vlablllty Technical Feasibility Economic Viability Creditworthiness Conclusion as to Viability Assessing Project Risks Completion Risk Technological Risk Raw Material Supply Risk Economic Risk Financial Risk Currency Risk Political Risk Environmental Risk Force Majeure Risk Implications for Project Financing The Cogeneration Project Conclusion Purpose of Security Arrangements Direct Security Interest in Project Facilities Security Arrangements 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 16HllPTW 7 8tructurlng the Project Undivided Joint Interest Corporation Partnership Limited Liability Company The Cogeneration Project Conclusion 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 tllAPTER8 Dlscountad Cash flow Analwk 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 C A T R 10 H PE Financial Modelng 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 C A T R 11 H PE Using Real-Opt)ons Analysb 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 Dispersjon Conclusion CHAPTER 12 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 18 Managing Project Risks Interest-Rate Swaps Credit Default Swaps Options Forwards and Futures Hedging Hedging with Options Hedging Foreign Exchange Risk Conclusion CHAPTER 14 Issues for tlm Host lovrnnmnt 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 Desirability of Precedents Hibernia Oil Field Project Public-Private Infrastructure Partnerships Public-Private Financing Structures Legislative Provision's that Can Affect Public-Private Partnerships Conclusion CHAPTER 15 Case Study: The lndhmtown Coflenratlon Project Project Description The Partnership and the Sponsors of the Project Principal Project Contracts Projected Operating Results Project Financing Conclusion CHAPTER 16 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 17 Case Study: The Euro Disneyland ProieCt 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 18 Case Study: The Eurotunhel Prbject 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 19 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 WEMIX A Comparative Terms of Selected Projects APPENDIX B Other Examples of Roject Financing8 IIPPENDIX C Legal Investment Requirements 6ovwning New York Ufe lnsrance Companies Useful Web Sites Notes

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