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Principles of Project Finance

Principles of Project Finance
Author: E.R. Yescombe
ISBN 13: 9780127708515
ISBN 10: 127708510
Edition: 1
Publisher: Academic Press
Publication Date: 2002-06-20
Format: Hardcover
Pages: 344
List Price: $110.00

"This book provides a comprehensive treatment of project finance accessible to those less familiar with the subject matter, yet detailed enough to serve as a valuable reference for the experienced manager. The book covers a wide array of topics, from legal issues to valuation methods, and even hedging financial risk with financial derivatives. Given the increasing importance of project finance in Asia and the Pacific Rim, Principles of Project Finance will be an invaluable reference for academics and managers alike in this region."
—Professor Nobuya Takezawa, International Christian University, Japan

This is an authoritative work written by a distinguished practitioner. I have no doubt it will quickly become a key text for those in both public or private sectors whose work involves Project Finance."
—Michael Gerrard, Head of Public Private Partnerships, Partnerships Uk plc

E. R. Yescombe's practical guide to project finance offers a systematic approach to this relatively new discipline, which is now used throughout the world in energy, infrastructure, natural resources, and other projects. Because project finance dictates every aspect of a project's development and contractual arrangements, all participants need to understand how this type of financing works and how the financial structure affects their roles. This examination of financial engineering tools therefore follows the typical project development process to demonstrate the principles which underlie the structuring of long-term debt finance for major projects. The book is intended both as an introduction to project finance and a general working handbook for those involved in any aspect of a project.

Key Features:
-A comprehensive and authoritative guide to the theory and practice of project finance.
-An international scope, covering projects in both the developed and developing worlds.
-The book describes and explains:
-Sources of project finance.
-Typical commercial contracts (such as those for construction of the project and sale of its product or services) and their impact on the project finance structure.
-Project finance risk assessment from the points of view of lenders, investors, and other project parties.
-Structuring the project finance debt.
-The key issues in negotiating a project finance debt facility.
-Extensive glossary and cross-referencing.
-No prior knowledge of project finance or financing techniques is assumed.


A London-based consultant explains project financing as a method of raising long-term debt to finance major projects by borrowing against the cash flow generated by the project alone. It depends, he says, on a detailed evaluation of a project's construction, operating, and revenue risks; and their allocation between investors, lenders, and other parties through contractual and other arrangements. The approach has been gaining popularity over the past two decades as privatization and deregulation have dried up conventional sources of funding. The glossary doubles as a minimal index. Annotation c. Book News, Inc., Portland, OR (booknews.com)