Capital-intensive projects throughout the world--including large-scale energy, infrastructure, toll road, solid waste, and recycling projects--rely on project finance as the most important financing technique available. But the complexity of project finance requires that the practitioner predict and resolve a number of potential risks involving bankruptcy, currency, and political issues, among others, and often in emerging economies.
Drawing on the author's 15-plus years of experience in all types of project finance, The Law and Business of International Project Finance is the first comprehensive, multi-discipline book to address these risks and their resolution and to detail each of the elements necessary for a successful project financing. Mirroring the structure of an actual project finance deal, this all-in-one handbook examines each step of the process, from the rationale for the project finance, through risk allocation and mitigation, to dispute resolution.
Topics discussed include financing sources, environmental issues, bilateral and multilateral support, contract aspects and typical contract terms, project contracts as credit support, project finance loan documents, collateral documents, and permits.
- Project Finance Risks
- Project Finance Cross-Border Risks
- Project Finance Commercial Risks
- Project Finance Participants and Their Roles
- Project Finance Structures
- Selecting the Project Finance Ownership Structure
- The Feasibility Study and Needs Assessment. Host Country Business Environment for Project Finance
- Economic Feasibility
- Environmental Regulation and Environmental Feasibility
- An Overview of Project Documentation
- Representations and Warranties in Project Finance Credit Agreements
- Preliminary Host Country Agreements
- Construction Contracts
- Input Contracts
- Operation and Maintenance Agreements
- Project Finance Off-take Sales Agreements
- Power Sales Agreements
- Project Finance Credit Enhancement
- Financing Sources for the Project
- The Offering Memorandum
- Project Finance Debt Commitment Letters
- Credit and Related Documentation for Project Finance Transactions
- Exports Credits Documentation
- Project Collateral
- Governing the Project Company
- Bankruptcy
- United States Laws Affecting Foreign Investments
- Local Lawyers and Overview of Local Laws
- Dispute Resolution in Project Finance Transactions