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Financing large scale Greenfield ports Project financing & value engineering

General (all areas of expertise)
19-03-2014 | Presentatie
Auteur: MTBS
Project financing follows a different process than
corporate financing…
Corporate finance:
Loan is provided on the company balance
Debt is usually recourse to entire organization’s assets
Leverage is usually modest (obvious exceptions)
Project finance:
A project is established as a separate company (SPC or SPV)
Loan is provided on SPC’s cash flows
Debt is non-recourse (or limited recourse) to SPC’s shareholders
High leverage (can be up to 90%, if market risk is excluded)
PF is used in infrastructure project, which can be seen as a stand-alone project
A concession contract is usually the main asset
The project company enters into comprehensive contractual arrangements with suppliers, customers
Both a financial structure and a corporate governance structure aimed efficiently allocating risk
Trefwoorden: Introduction MTBS, Project Financing, Project Financing for Greenfield Port Projects & Value Engineering, Project cost markups
Bijgewerkt op: 06-10-2015
Bron: MTBS
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