This book covers the project financing process from the perspective of a wider and more general group of stakeholders by addressing the three key elements of cash flow; collateral/support structures; and risk management. Following a detailed description of project financing in the first chapter, the authors discuss the project financing process, modelling and risk management, public private partnerships and project financing in practice including the use of the principles in a range of different contexts. A sound understanding of project management is fundamental to successful project financing, as is the need to have a clear plan for a project to communicate the essential information that different stakeholders require.
A successful project financing starts with the different phases of a project and descriptions of the key risk areas include the challenges in estimating the cost of a project and the general principles of financial modelling with a discussion of the unique aspects of financial modelling for different industries. Throughout the book, short recent international case studies are used to illustrate successful and unsuccessful projects allowing the lessons learned to be visible and there are many examples of specific applications of project finance techniques throughout the text.
Bundle Set: Project Financing (Analyzing and Structuring Projects & Financial Instruments and Risk Management)
Sample Chapter(s)
Preface
Chapter 1: An Overview of Project Finance
Contents:
- An Overview of Project Finance
- How Project Management Impacts Project Finance
- From Project Plan to Offering Memorandum: What Core Stakeholders Need to Know
- Criteria for Successful Project Financing
- The Project Financing Process
- Project Cost Estimation
- Financial Models
- Financial Modelling for Different Industries
- What's Different About Public–Private Partnership Projects?
- Public–Private Partnerships in Practice
- Structures for Jointly Owned or Sponsored Projects
- Construction Financing
- An Overview of Trade Financing
- Funding Natural Resource Projects
- Corporate Changes and Restructuring
Readership: For graduate students, project stakeholders, providers of finance, lawyers and accountants.
Carmel F de Nahlik currently works for WMG, part of Warwick University. Originally a project finance banker for commercial and investment banks and then a director of the European arm of a major US investment group, she began to develop and teach senior managers about project and corporate finance and practice as a consultant in a number of country restructuring programmes. Following this, she became an academic. She has held senior positions in both the private and public sector, and has taken a non-executive director/trustee role for several organizations including a charity and a school. She holds degrees in Chemistry (UMIST); MBA from Manchester Business School where she held the Conoco Oil Fellowship and David Blank Scholarship; PhD from Cranfield University and a Masters in Online and Distance Learning from the Open University. She has published previously in the areas of project finance and banking.
Frank J Fabozzi is Professor of Finance at EDHEC Business School. Over the past 35 years, he has held professorial positions at MIT, Yale, Princeton, and New York University. He is a trustee of the BlackRock closed-end fund complex. He is the editor of the Journal of Portfolio Management and co-editor/co-founder of the Journal of Financial Data Science, as well as a member of the editorial board of the Journal of Structured Finance and the Journal of Derivatives. He is the CFA Institute's 2007 recipient of the C Stewart Sheppard Award and the CFA Institute's 2015 recipient of the James R Vertin Award. He was inducted into the Fixed Income Analysts Society Hall of Fame in November 2002. He earned the designations of Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA). He received his BA and MA in economics in 1970 from The City College of New York where he was elected to Phi Beta Kappa, and received a PhD in economics in 1972 from the City University of New York. In 1994 he was awarded an Honorary Doctorate of Humane Letters from Nova Southwestern University.