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Description of Project Finance in Theory and Practice

Project finance is a fast-growing area of capital investment for major infrastructure and other large projects. Financing such projects as EuroDisney, airports, highways, tunnels, schools, hospitals, and other large projects presents a complex and interesting challenge that the specialty of project finance takes on wholeheartedly, combining financial engineering with legal and contractual expertise to develop various financing options.

In this book, Stefano Gatti of Bocconi University describes the theory that underpins this cutting-edge industry, and then provides illustrations and examples from actual practice to illustrate that theory. At key points in the book, Gatti brings in other project finance experts who share their specialized knowledge on the legal issues and the role of advisors in project finance deals. The CD-ROM included with the book allows readers to generate results using an excel spreadsheet.

This book includes a forword by William Megginson, Professor and Rainbolt Chair in Finance, Price College of Business, The University of Oklahoma.

It provides a comprehensive coverage of theory and practice of project finance as it is practiced today in Europe and North America. The CD-ROM included with the book contains interactive spreadsheets so that readers can input data and run and compare various scenarios, including up to the minute treatment of the cutting-edge areas of PPPs and the new problems raised by Basel II related to credit risk measurement.

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Title Information

ISBN:

9780123736994

Pages:

440 pages

Format:

Hardback

Product Code:

252525

Publisher:

Academic Press Inc

Published:

07/11/2007

Edition:

illustrated edition

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About Stefano Gatti

Stefano Gatti, Professor at Bocconi University in Milan, Italy; consultant for banks and manufacturing firms in Italy and a trainer for managers and government members in Russia, Africa and China.

Contents of Project Finance in Theory and Practice

Foreword by William L. Megginson
Preface
Acknowledgments
About the Author

1 Introduction to the Theory and Practice of Project Finance
2 The Market for Project Finance: Applications and the Sectors
3 Project Characteristics, Risk Analysis and Risk Management
4 The Role of Advisors in a Project Finance Deal (Stefano Gatti, Massimo Novo, Fabio Landriscina and Mark Pollard)
5 Valuing the Project and Project Cash Flow Analysis (Stefano Gatti)
6 Financing the Deal (Stefano Gatti)
7 Legal Aspects of Project Finance (Massimo Novo)
8 Credit Risk in Project Finance Transactions and New Basel Capital Accord (Stefano Gatti)

Case Studies
Case Study 1 Cogeneration
Case Study 2 Italy Water System (Stefano Gatti, Daniele Corbino, Alessandro Steffanoni)
Appendix to Case Study 2: Structure and Functioning of the Simulation Model
Case Study 3: Hong Kong Disneyland Project

Loan Glossary and Abbreviations
References
Index