Advanced project financing: structuring risk
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
London
Euromoney Books
2000
|
| Ausgabe: | 1. ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XIX, 294 S. graph. Darst. |
| ISBN: | 1855648342 |
Internformat
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV021998162 | ||
| 003 | DE-604 | ||
| 005 | 20061124000000.0 | ||
| 007 | t | ||
| 008 | 061006s2000 d||| |||| 00||| eng d | ||
| 020 | |a 1855648342 |9 1-85564-834-2 | ||
| 035 | |a (OCoLC)476013135 | ||
| 035 | |a (DE-599)BVBBV021998162 | ||
| 040 | |a DE-604 |b ger | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-706 |a DE-11 | ||
| 084 | |a QP 700 |0 (DE-625)141926: |2 rvk | ||
| 100 | 1 | |a Tinsley, Richard |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Advanced project financing |b structuring risk |
| 250 | |a 1. ed. | ||
| 264 | 1 | |a London |b Euromoney Books |c 2000 | |
| 300 | |a XIX, 294 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 4 | |a Financial planning | |
| 650 | 4 | |a Financing theory | |
| 650 | 4 | |a Finansiel planlægning | |
| 650 | 4 | |a Finansieringsteori | |
| 650 | 4 | |a Risikovillig kapital | |
| 650 | 4 | |a Risk capital | |
| 650 | 0 | 7 | |a Projektfinanzierung |0 (DE-588)4047425-2 |2 gnd |9 rswk-swf |
| 689 | 0 | 0 | |a Projektfinanzierung |0 (DE-588)4047425-2 |D s |
| 689 | 0 | |5 DE-604 | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015212803&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-015212803 | ||
Datensatz im Suchindex
| _version_ | 1804135973203738624 |
|---|---|
| adam_text | Contents
Preface xi
Author biography xiv
List of case studies xv
List of exhibits xvii
Introduction 1
Project finance s origins 1
Project finance defined 1
Project finance structuring 2
Advantages 6
Disadvantages 11
Summary 13
Chapter 1: Structuring stages 15
Technical feasibility stage 15
Financial feasibility stage 17
Market feasibility stage 20
Use in mergers and acquisitions 25
Project concept 25
Summary 25
Chapter 2: Funding sources 27
Local currency funding 27
Capital markets 30
Developers 34
Mezzanine 34
Merchant financing 34
Islamic lending 34
Governments public private partnerships 35
Leasing 35
Commodity based lending 35
Equity 36
Summary 36
v
CONTENTS
Chapter 3: Cashflows 37
Modelling aspects 38
Cashflow controls 43
Modelling cashflows 47
Summary 50
Chapter 4: Financial advisers 51
Advantages and disadvantages 51
Need for an adviser 51
Advisory costs 52
Who are the financial advisers? 52
Summary 54
Chapter 5: Credit ratios 55
Debt service cover ratio 56
Residual 59
Interest cover ratio 62
Principal cover ratio 62
Present value ratios 62
Loan life ratio (LLR) 63
Project life ratio (PLR) 63
Residual life ratio (RLR) 63
Debt:Equity ratio (D:E) 63
Payback 63
Discount rate 64
Leveraged IRR 64
Choice of discount rate 65
Multi tranche ratios 65
Accounting ratios 65
Summary 65
Chapter 6: Risk systems 67
Insurance 68
Statistical 70
Risk modellers 71
Checklist 71
Contractual/Jigsaw 72
Project finance 72
Chapter 7: Sector profiles 75
Sector features 75
Analysis by sector 78
Summary 87
Chapter 8: Structures 89
Risk 89
Risk division 92
Document matrix 92
vi
CONTENTS
Interest 92
Principal 92
Drawdown styles 92
SPV 94
Mezzanine 95
Subordinated debt 96
Working capital 98
Bridge loans 98
Multi tranche 98
Commodity funding 98
Contract structures 98
Trigger structures 105
Financed structures 109
Study structure 110
Avoided 112
Summary 116
Chapter 9: Due diligence 119
Systematic review 119
The feasibility process 120
Selection of experts/engineers 122
Customary reviews 123
Telecoms subscriber studies 129
Common sense 129
Chapter 10: Supply risk 131
Contract structures 131
Trigger structures 133
Financed structures 134
Study structures 134
Structures 138
Summary 139
Chapter 11: Market risk 141
Market price 146
Contract structures 146
Trigger situations 148
Study techniques 150
Summary 151
Chapter 12: Foreign exchange risk 153
What percentage to structure? 153
Contract structures 153
Parallel loans 153
Barter 153
Trigger structures 154
Avoided 154
Study 155
Summary 155
vii
CONTENTS
Chapter 13: Operating risk technical component 157
Contract structures 157
Trigger structures 160
Financed structure 160
Study structures 160
Summary 161
Chapter 14: Operating risk cost component 163
Contract structures 163
Trigger structures 163
Financed structures 164
Study structure 164
Avoided 164
Summary 164
Chapter 15: Operating risk management component 167
Contract structures 167
Trigger structures 168
Study 168
Summary 168
Chapter 16: Environmental risk 171
Contract structures 171
Trigger structures 171
Financed structures 172
Study 174
Avoided 174
Summary 175
Chapter 17: Infrastructure risk 177
Contract structures 177
Studies 178
Summary 179
Chapter 18: Force majeure risk 181
Acts of nature 181
Acts of man(kind) 181
Acts of government 182
Impersonal acts 182
Trigger structures 182
Studies 183
Summary 184
Chapter 19: Completion risk 185
Completion test 186
Contract structures 188
Trigger structures 192
Financed structures 194
viii
CONTENTS
Study approach 202
Sector completion protocols 203
Summary 205
Chapter 20: Engineering risk 207
Design/calculations 207
Study 208
Chapter 21: Political risk 211
Definitions 211
Government supports 218
Treaty protection 219
Contract structures 219
Trigger structures 225
Financed structures 226
Study sources 227
Avoided 227
Chapter 22: Participant risk 233
Sponsor pre completion 233
SPV 235
Trigger structures 236
Study route 238
Avoided 238
Summary 238
Chapter 23: Interest rate risk 239
Contract structures 239
Trigger structures 240
Summary 241
Chapter 24: Syndication risk 243
Roles 243
Choice of banks and placements parties 244
Pricing 244
Disclosure 244
Contract structures 245
Study structures 246
Chapter 25: Legal risk 249
Legal regime 24
Concept of law 25°
Enforcement 251
The courts 251
Solicitors/lawyers 2^2
Contracted structures 253
Trigger structures 253
Study structures 253
CONTENTS
Avoided 254
Summary 256
Appendix 1: Differing definitions 257
M A 257
Securitisation 257
Lawyers 257
Project financiers 257
Appendix 2: Typical owner controlled insurance programme (OCIP) 261
Section 1 Owner s project company insurance coverages construction phase 261
Section 2 Contractor s insurance requirements construction phase 264
Section 3 Owner s project company insurance coverages operational phase 266
Glossary 269
Index 289
x
|
| adam_txt |
Contents
Preface xi
Author biography xiv
List of case studies xv
List of exhibits xvii
Introduction 1
Project finance's origins 1
Project finance defined 1
Project finance structuring 2
Advantages 6
Disadvantages 11
Summary 13
Chapter 1: Structuring stages 15
Technical feasibility stage 15
Financial feasibility stage 17
Market feasibility stage 20
Use in mergers and acquisitions 25
Project concept 25
Summary 25
Chapter 2: Funding sources 27
Local currency funding 27
Capital markets 30
Developers 34
Mezzanine 34
Merchant financing 34
Islamic lending 34
Governments public private partnerships 35
Leasing 35
Commodity based lending 35
Equity 36
Summary 36
v
CONTENTS
Chapter 3: Cashflows 37
Modelling aspects 38
Cashflow controls 43
Modelling cashflows 47
Summary 50
Chapter 4: Financial advisers 51
Advantages and disadvantages 51
Need for an adviser 51
Advisory costs 52
Who are the financial advisers? 52
Summary 54
Chapter 5: Credit ratios 55
Debt service cover ratio 56
Residual 59
Interest cover ratio 62
Principal cover ratio 62
Present value ratios 62
Loan life ratio (LLR) 63
Project life ratio (PLR) 63
Residual life ratio (RLR) 63
Debt:Equity ratio (D:E) 63
Payback 63
Discount rate 64
Leveraged IRR 64
Choice of discount rate 65
Multi tranche ratios 65
Accounting ratios 65
Summary 65
Chapter 6: Risk systems 67
Insurance 68
Statistical 70
Risk modellers 71
Checklist 71
Contractual/Jigsaw 72
Project finance 72
Chapter 7: Sector profiles 75
Sector features 75
Analysis by sector 78
Summary 87
Chapter 8: Structures 89
Risk 89
Risk division 92
Document matrix 92
vi
CONTENTS
Interest 92
Principal 92
Drawdown styles 92
SPV 94
Mezzanine 95
Subordinated debt ' 96
Working capital 98
Bridge loans 98
Multi tranche 98
Commodity funding 98
Contract structures 98
Trigger structures 105
Financed structures 109
Study structure 110
Avoided 112
Summary 116
Chapter 9: Due diligence 119
Systematic review 119
The feasibility process 120
Selection of experts/engineers 122
Customary reviews 123
Telecoms subscriber studies 129
Common sense 129
Chapter 10: Supply risk 131
Contract structures 131
Trigger structures 133
Financed structures 134
Study structures 134
Structures 138
Summary 139
Chapter 11: Market risk 141
Market price 146
Contract structures 146
Trigger situations 148
Study techniques 150
Summary 151
Chapter 12: Foreign exchange risk 153
What percentage to structure? 153
Contract structures 153
Parallel loans 153
Barter 153
Trigger structures 154
Avoided 154
Study 155
Summary 155
vii
CONTENTS
Chapter 13: Operating risk technical component 157
Contract structures 157
Trigger structures 160
Financed structure 160
Study structures 160
Summary 161
Chapter 14: Operating risk cost component 163
Contract structures 163
Trigger structures 163
Financed structures 164
Study structure 164
Avoided 164
Summary 164
Chapter 15: Operating risk management component 167
Contract structures 167
Trigger structures 168
Study 168
Summary 168
Chapter 16: Environmental risk 171
Contract structures 171
Trigger structures 171
Financed structures 172
Study 174
Avoided 174
Summary 175
Chapter 17: Infrastructure risk 177
Contract structures 177
Studies 178
Summary 179
Chapter 18: Force majeure risk 181
Acts of nature 181
Acts of man(kind) 181
Acts of government 182
Impersonal acts 182
Trigger structures 182
Studies 183
Summary 184
Chapter 19: Completion risk 185
Completion test 186
Contract structures 188
Trigger structures 192
Financed structures 194
viii
CONTENTS
Study approach 202
Sector completion protocols 203
Summary 205
Chapter 20: Engineering risk 207
Design/calculations 207
Study 208
Chapter 21: Political risk 211
Definitions 211
Government supports 218
Treaty protection 219
Contract structures 219
Trigger structures 225
Financed structures 226
Study sources 227
Avoided 227
Chapter 22: Participant risk 233
Sponsor pre completion 233
SPV 235
Trigger structures 236
Study route 238
Avoided 238
Summary 238
Chapter 23: Interest rate risk 239
Contract structures 239
Trigger structures 240
Summary 241
Chapter 24: Syndication risk 243
Roles 243
Choice of banks and placements parties 244
Pricing 244
Disclosure 244
Contract structures 245
Study structures 246
Chapter 25: Legal risk 249
Legal regime 24"
Concept of law 25°
Enforcement 251
The courts 251
Solicitors/lawyers 2^2
Contracted structures 253
Trigger structures 253
Study structures 253
CONTENTS
Avoided 254
Summary 256
Appendix 1: Differing definitions 257
M A 257
Securitisation 257
Lawyers 257
Project financiers 257
Appendix 2: Typical owner controlled insurance programme (OCIP) 261
Section 1 Owner's project company insurance coverages construction phase 261
Section 2 Contractor's insurance requirements construction phase 264
Section 3 Owner's project company insurance coverages operational phase 266
Glossary 269
Index 289
x |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Tinsley, Richard |
| author_facet | Tinsley, Richard |
| author_role | aut |
| author_sort | Tinsley, Richard |
| author_variant | r t rt |
| building | Verbundindex |
| bvnumber | BV021998162 |
| classification_rvk | QP 700 |
| ctrlnum | (OCoLC)476013135 (DE-599)BVBBV021998162 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| edition | 1. ed. |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01372nam a2200397zc 4500</leader><controlfield tag="001">BV021998162</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20061124000000.0</controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">061006s2000 d||| |||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">1855648342</subfield><subfield code="9">1-85564-834-2</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)476013135</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV021998162</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-706</subfield><subfield code="a">DE-11</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QP 700</subfield><subfield code="0">(DE-625)141926:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Tinsley, Richard</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Advanced project financing</subfield><subfield code="b">structuring risk</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">1. ed.</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">London</subfield><subfield code="b">Euromoney Books</subfield><subfield code="c">2000</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XIX, 294 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financial planning</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financing theory</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finansiel planlægning</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finansieringsteori</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Risikovillig kapital</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Risk capital</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Projektfinanzierung</subfield><subfield code="0">(DE-588)4047425-2</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Projektfinanzierung</subfield><subfield code="0">(DE-588)4047425-2</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015212803&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-015212803</subfield></datafield></record></collection> |
| id | DE-604.BV021998162 |
| illustrated | Illustrated |
| index_date | 2024-07-02T16:11:07Z |
| indexdate | 2024-07-09T20:49:00Z |
| institution | BVB |
| isbn | 1855648342 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015212803 |
| oclc_num | 476013135 |
| open_access_boolean | |
| owner | DE-706 DE-11 |
| owner_facet | DE-706 DE-11 |
| physical | XIX, 294 S. graph. Darst. |
| publishDate | 2000 |
| publishDateSearch | 2000 |
| publishDateSort | 2000 |
| publisher | Euromoney Books |
| record_format | marc |
| spelling | Tinsley, Richard Verfasser aut Advanced project financing structuring risk 1. ed. London Euromoney Books 2000 XIX, 294 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Financial planning Financing theory Finansiel planlægning Finansieringsteori Risikovillig kapital Risk capital Projektfinanzierung (DE-588)4047425-2 gnd rswk-swf Projektfinanzierung (DE-588)4047425-2 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015212803&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Tinsley, Richard Advanced project financing structuring risk Financial planning Financing theory Finansiel planlægning Finansieringsteori Risikovillig kapital Risk capital Projektfinanzierung (DE-588)4047425-2 gnd |
| subject_GND | (DE-588)4047425-2 |
| title | Advanced project financing structuring risk |
| title_auth | Advanced project financing structuring risk |
| title_exact_search | Advanced project financing structuring risk |
| title_exact_search_txtP | Advanced project financing structuring risk |
| title_full | Advanced project financing structuring risk |
| title_fullStr | Advanced project financing structuring risk |
| title_full_unstemmed | Advanced project financing structuring risk |
| title_short | Advanced project financing |
| title_sort | advanced project financing structuring risk |
| title_sub | structuring risk |
| topic | Financial planning Financing theory Finansiel planlægning Finansieringsteori Risikovillig kapital Risk capital Projektfinanzierung (DE-588)4047425-2 gnd |
| topic_facet | Financial planning Financing theory Finansiel planlægning Finansieringsteori Risikovillig kapital Risk capital Projektfinanzierung |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015212803&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT tinsleyrichard advancedprojectfinancingstructuringrisk |