Advanced Project Financing [Paperback]Structuring the Risksby Richard Tinsley
Usually ships within 3 to 5 working days Description of Advanced Project FinancingThis book is an indispensable guide to the risks encountered in a project financing. Written by Richard Tinsley, author of the best-selling self-study guide Project Finance, the book begins by identifying the key risks in project finance. From this, the reader is presented with 214 real-world case studies in which each choice of risk structure is explained and assessed. Starting with a cashflow analysis, the book looks at the best structures and funding techniques to mitigate and avoid risk. Deal diagrams are used to illustrate the many alternative project finance structures that can be considered. Furthermore, allied financial measures are explained and demystified. This book is an invaluable guide for the project finance practitioner, enabling them to dissect any project finance and find the appropriate risk structuring. Interest areas: project finance, currency risk, credit risk, counterparty, joint venture documentation, emerging markets.Title Information
Write a review of this book Contents of Advanced Project FinancingPrefaceAuthor biography List of case studies List of exhibits Introduction Project finance's Project finance defined Project finance structuring Advantages Disadvantages Summary 1: Structuring stages Technical feasibility stage Financial feasibility stage Market feasibility stage Use in mergers and acquisitions Project concept Summary 2: Funding sources Local currency funding Capital markets Developers Mezzanine Merchant financing Islamic lending Governments-public-private partnerships Leasing Commodity-based lending Equity Summary 3: Cashflows Modelling aspects Cashflow controls Modelling cashflows Summary 4: Financial advisers Advantages and disadvantages Need for an adviser Advisory costs Who are the financial advisers? Summary 5: Credit ratios Debt service cover ratio Residual Interest cover ratio Principal cover ratio Present value ratios Loan life ratio (LLR) Project life ratio (PLR) Residual life ratio (RLR) Debt:Equity ratio (D:E) Payback Discount rate Leveraged IRR Choice of discount rate Multi-tranche ratios Accounting ratios Summary 6: Risk systems Insurance Statistical Risk modellers Checklist Contractual/Jigsaw Project finance 7: Sector profiles Sector features Analysis by sector Summary 8: Structures Risk Risk division Document matrix Interest Principal Drawdown styles SPV Mezzanine Subordinated debt Working capital Bridge loans Multi-tranche Commodity funding Contract structures Trigger structures Financed structures Study structure Avoided Summary 9: Due diligence Systematic review The feasibility process Selection of experts/engineers Customary reviews Telecoms subscriber studies Common sense 10: Supply risk Contract structures Trigger structures Financed structures Study structures Structures Summary 11: Market risk Market-price Contract structures Trigger situations Study techniques Summary 12: Foreign exchange risk What percentage to structure? Contract structures Parallel loans Barter Trigger structures Avoided Study Summary 13: Operating risk - technical component Contract structures Trigger structures Financed structure Study structures Summary 14: Operating risk - cost component Contract structures Trigger structures Financed structures Study structure Avoided Summary 15: Operating risk - management component Contract structures Trigger structures Study Summary 16: Environmental risk Contract structures Trigger structures Financed structures Study Avoided Summary 17: Infrastructure risk Contract structures Studies Summary 18: Force majeure risk Acts of nature Acts of man(kind) Acts of government Impersonal acts Trigger structures Studies Summary 19: Completion risk Completion test Contract structures Trigger structures Financed structures Study approach Sector completion protocols Summary 20: Engineering risk Design/calculations Study 21: Political risk Definitions Government supports Treaty protection Contract structures Trigger structures Financed structures Study sources Avoided 22: Participant risk Sponsor pre-completion SPV Trigger structures Study route Avoided Summary 23: Interest rate risk Contract structures Trigger structures Summary 24: Syndication risk Roles Choice of banks and placements parties Pricing Disclosure Contract structures Study structures 25: Legal risk Legal regime Concept of law Enforcement The courts Solicitors/lawyers Contracted structures Trigger structures Study structures Avoided Summary Appendix 1: Differing definitions M&A Securitisation Lawyers Project financiers Appendix 2: Typical owner controlled insurance programme (OCIP) Section 1. Owner's project company insurance coverages - construction phase Section 2. Contractor's insurance requirements - construction phase Section 3. Owner's project company insurance coverages - operational phase Glossary |
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