Principles of Project Finance

The Second Edition of this best selling introduction for practitioners uses new material and updates to describe the changing environment for project finance.  Integrating recent developments in credit markets with revised insights into making project finance deals, the second edition offers a balanced view of project financing by combining legal, contractual, scheduling, and other subjects. Its emphasis on concepts and techniques makes it critical for those who want to succeed in financing large projects.  With extensive cross references and a comprehensive glossary, the Second Edition presents anew a guide to the principles and practical issues that can commonly cause difficulties in commercial and financial negotiations.

• Provides a basic introduction to project finance and its relationship with other financing techniques
• Describes and explains: sources of project finance; typical commercial contracts (e.g., for construction of the project and sale of its product or services) and their effects on project finance structures; project finance risk assessment from the points of view of lenders, investors, and other project parties; how lenders and investors evaluate the risks and returns on a project; the rôle of the public sector in public private partnerships and other privately financed infrastructure projects; how all these issues are dealt with in the financing agreements

E.R. Yescombe has over 30 years’ experience in various forms of structured finance, including project finance, leasing, export credits, real estate and asset finance. A former banker and head of project finance in London for a major international bank, he is now an independent consultant on project finance and public-private partnerships (PPPs), advising investors on financing for power, infrastructure and PPP projects, as well as public-sector entities on PPP policy issues, project procurement and contracting.