Sites Internet utiles

Project Finance Portal, Harvard Business School

“This portal is a reference guide for practitioners, researchers, and students seeking information about Project Finance and public-private partnerships (PPP). In addition to bibliographical references for books, articles, and case studies, the site contains links to hundreds of related sites containing data as well as information about particular projects and companies/organizations involved with Project Finance. http://www.people.hbs.edu/besty/projfinportal/ ”

International Project Finance Association (IPFA).

“International, independent, not for profit Association dedicated to promoting and representing the interests of private sector companies involved in project finance and Public Private Partnerships (PPPs) throughout the world. http://www.ipfa.org/”

Ouvrages en financement de projet

Modern Project Finance: A Casebook

“This cutting-edge financial casebook is divided into four modules: Structuring Projects, Valuing Projects, Managing Project Risk, and Financing Projects. The cases have been carefully selected to reflect actual use of project finance over the past five years in terms of geographic location (the cases come from 15 different countries) and industrial sectors.
* Benjamin Esty, of the Harvard Business School, is one of the leading scholars in project finance.
* Project finance is becoming the financing mechanism of choice for many private firms.
* Cases require the reader to integrate knowledge from multiple disciplines when making a single managerial decision. This integration of functional areas such as strategy, operations, ethics, and human resource management encourages the reader to adopt a more integrative perspective and understanding of the interconnectedness of managerial decision-making. ”

Modern Project Finance: A CasebookBenjamin C. Esty ISBN: 978-0-471-43425-2Paperback544 pagesApril 2006

Project Financing

“This timely book describes an innovative financing technique, using examples and case studies such as Euro Disneyland and the Eurotunnel to walk readers through its essential steps and procedures. Analyzes the shortcomings of unsuccessful project financing attempts. Project financing: asset-based financial engineeringPar John D. FinnertyEdition: illustratedPublié par John Wiley and Sons, 1996ISBN 0471146315, 9780471146315384 pages”

Project Finance in Theory and Practice

 “Designing, Structuring, and Financing Private and Public Projects

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. ”

by Stefano Gatti ISBN: 0123736994, ISBN13: 9780123736994, 440 pages, hardback
Published by Elsevier Science in 2007  illustrated edition         

PRINCIPLES OF PROJECT FINANCE

“This introduction for practitioners offers a balanced view of project financing, integrating legal, contractual, scheduling, and other areas that participate in large multiparty projects, large single-asset purchases, and broad-based financing programs for fleets of assets. It mixes theories and case studies but avoids becoming too oriented toward applications in any one particular industry. It focuses on the concepts and techniques required by project finance people without being overly academic or beset by case studies. The author, who has a legal background, recognizes that some legal information is necessary, but he doesn’t attempt to write a law book. Project Finance refers to the techniques of financing projects which are dependent on cash flows for repayment, as defined by the contractual relationships within each project. By their very nature, these types of projects rely on a large number of integrated contractual arrangements for successful completion and operation. Project finance is an element within the larger field of project management.Many organizations around the world utilize project management to enable innovative processes, to plan, organize, and control strategic initiatives, to monitor enterprise performance, to analyze significant deviations, and to forecast their impact on the organization and project(s). Project management can be found in many industries today, from construction and information systems to healthcare, financial services, education, and training. The key features: a comprehensive and authoritative guide to the theory and practice of project finance; and 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; and extensive glossary and cross-referencing. No prior knowledge of project finance or financing techniques is assumed. ”

Auteur : Edward Yescombe Date de parution : 06/07/2002 ISBN :9780127708515 Editeur : Elsevier Science & Technology Nombre de pages : 344 Dimensions : 627X152 cm Poids : 627 g EAN :9780127708515

Public Private Partnerships: The Worldwide Revolution in Infrastructure Provision and Project Finance 

“Considers the recent trend for governments to look increasingly to private sector finance, provided by private enterprises constructing and managing public infrastructure facilities in partnership with government bodies. Grimsey from Melbourne University Private and Lewis from University of South Australia.

More details By Darrin Grimsey, Mervyn LewisEdition: illustratedPublished by Edward Elgar, 2004ISBN 1840647116, 9781840647112268 pages ”

Introduction to Project Finance

“The term “project finance” is now being used in almost every language in every part of the world. It is the solution to infrastructure, public and private venture capital needs. It has been successfully used in the past to raise trillions of dollars of capital and promises to continue to be one of the major financing techniques for capital projects in both developed and developing countries.

Project Finance aims to provide:
*Overview of project finance
*Understanding of the key risks involved in project finance and techniques for mitigating risk
*Techniques for effective evaluation of project finance from both a financial and credit perspective

The author differentiates between recourse and non-recourse funding, tackles the issues of feasibility, identifies the parties normally involved with project finance plans, and details techniques for realistic cash flow preparation.
*Inspired by basic entry level training courses that have been developed by major international banks worldwide
*Will enable students, and those already in the finance profession, to gain an understanding of the basic information and principles of project finance
*Includes questions with answers, study topics, practical ‘real world’ examples and an extensive bibliography ” .

More details By Andrew FightEdition: illustratedPublished by Butterworth-Heinemann, 2006 ISBN 075065905X, 9780750659055,205 pages.

Project Finance, BOT Projects and Risk

“Project and other structured finance models have become a method of choice for financing infrastructure projects in many different sectors across the globe. They allow greater flexibility for governments and project sponsors wishing to develop infrastructure without the concomitant burden on their balance sheets and their ability to fund other needs and priorities.However, the fall of Enron, WorldCom and so many other organisations who pushed the structured finance model one step too far has raised alarm bells. Has project and structured finance seen the end of its useful life? Are the risks surrounding such projects so extreme as to bring into question their usefulness? The viability of structured infrastructure projects relies on a comprehensive, yet sensible assessment of risk and allocation of that risk in an efficient manner. Yet our understanding of efficient risk allocation often runs contrary to the actual risk allocation models that we apply to such projects. Risk analysis for complex projects requires a level of sophistication and objectivity of which few individuals are capable. Jeff Delmon’s book addresses the many issues around risk and structured infrastructure projects. It is not a dry legal treatise, but an eminently readable and practical explanation of efficient risk allocation and the contractual framework which forms the bedrock of BOT and other project finance transactions. Based on Jeff’s practical experience in the sector, this book provides practical guidance and insight into many of the pitfalls often encountered in such projects. This book is ideal for those relatively new to the issues surrounding project finance and risk as well as those with significant experience as an aide-memoire and a challenge to the approaches to risk allocation that are so often applied to such transactions”. 

More details Project finance, BOT projects and riskBy Jeffrey DelmonEdition: illustratedPublished by Kluwer Law International, 2005ISBN 9041123652, 9789041123657; 535 pages.

Financing Large Projects: Using Project Finance Techniques and Practices

“Financing Large Projects is one of the most comprehensive books written on the art of project finance. Project finance is a technique employed for the purpose of mobilizing capital for very large start-up projects, or greenfields, based on the cash flow merits of the project–usually with little or no external support provided by parent companies in the form of guarantees. Unlike other books, this one addresses the financial, technical, legal and environmental aspects of financing complex projects. In explaining the principles involved, the authors followed the project development cycle illustrating how projects are evolved from inception, usually through international competitive bidding, to financial closure when all debt and equity needed to construct and operate the project that has been mobilized.The book is particularly thorough in explaining the criteria used by bankers and lawyers to distinguish projects that are bank-able from those that are not. It has some good sections, particularly apt for banking professionals, on the intricacies of international law as it impinges on project finance”.

More details Financing Large Projects: Using Project Finance Techniques and PracticesBy M. Fouzul Kabir Khan, Robert J. ParraPublished by Prentice Hall, 2007 ISBN 0131016342, 9780131016347; 672 pages.

Project Finance: a legal guide The new edition of a popular and”highly regarded text, Project Finance examines the legal issues involved in the tendering, negotiation, financial structuring and management of infrastructure and energy projects.It provides detailed guidance on the specific parts of the many branches of law that are brought into play in a typical project financing, from large cross-border upstream oil and gas projects to small- to medium- sized PPP projects. It is not solely a legal work as it also gives advice on a multitude of commercial and financial issues and explains current market practice.* Draws together a disparate subject into one reference source* Supplies clear, practice-focused advice on how the law works in commercial situations* Contains separate sections on the many different commercial sectors where project financings take place* Advises on a range of commercial and financial issues in addition to strictly legal topics* Features entirely new chapters on running competitions, how to structure a bid, LNG projects and projects in trouble* Includes expanded and updated coverage of finance documentation, public-private partnerships, risk allocation in power projects, cover ratios, and export credit agencies* Provides authoritative guidance – from the head of Allen & Overy’s Projects Group”.

More details Project finance: a legal guideBy Graham D. VinterEdition: 3, revised Published by Sweet & Maxwell, 2006ISBN 0421909501, 9780421909502; 473 pages.

 Practical Project Finance, 3rd Edition

“The new edition of a popular and highly regarded text, Practical Project Finance examines the legal issues involved in the tendering, negotiation, financial structuring and management of infrastructure and energy projects.
Written in a clear and practical way, the book provides detailed guidance on the specific parts of the many branches of law that are brought into play in a typical project financing, from large cross-border upstream oil and gas projects to small- to medium- sized PPP projects.

– Comprehensive – covers all aspects of project finance
– Deals with general principles as well as sector-specific issues
– Authoritative – written by the head of Allen & Overy’s Projects Group
– Practice-focused – provides clear, structured guidance on how the law works in specific project financings

By Graham Vinter and Gareth Price   ISBN: 0421909501,    ISBN13: 9780421909502,    hardback , Published by Sweet & Maxwell in 2005   3rd edition”.

Project Financing, 7th edition

“Includes numerous examples and case-studies, including the Eurotunnel, Dabhol and Hubco deals. These illustrate key issues such as government and multilateral guarantees, risk allocation and effective project structuring, and integrated capital market financings.Comprehensive and practical, this book examines the key criteria for successful project financing:

* Choosing financial advisers and banks

* Types and sources of equity and debt finance

*  Types of risk and risk appraisal, leasing issues

* Construction financing

* Exim finance

* Credit appraisal

* Political risk and guarantees

* Risk management with swaps and interest rate futures. After more than 20 years this book is still the acknowledged standard text on project financing. It is an invaluable manual which should be on every project financier’s desk.” 

ISBN: 978 1 85564 791 6 Author(s): Peter K Nevitt and Frank Fabozzi Publisher: Euromoney Books 380 Pages.

Project Finance for Constructions and Infrastructure: Principles and Case Studies

“This is a self-contained text on the logic and institutions of project finance, supplemented by a series of project finance case studies illustrating applications in different economic environments, across different jurisdictions and at different stages of development. It will introduce an analytical framework drawing on applied institutional economics that includes and concentrates primarily on an analysis of the institutional logic behind generic project finance arrangements. The application of the institutional framework will be demonstrated with project cases from Hong Kong, Thailand, India, Europe and Azerbaijan – each at different stages of development. While each project case will have a general theme and will highlight aspects of interest to built environment professionals, it will primarily be used to illustrate one or more specific PF/PFI principle.

By Frederik Pretorius, Berry-Fong Chung-Hsu, Arthur McInnes, Paul Lejot, Douglas Arner  ISBN: 978-1-4051-5127-6 Hardcover 372 pages. December 2007 Wiley-Blackwell ”

The law and business of international project finance

“Project finance requires careful analysis and structuring of a wide variety of risks. This completely updated third edition addresses these risks and their resolution, and details the necessary elements of a successful project financing. Mirroring the structure of an actual project finance deal, this all-in-one handbook examines each step of the process.

The law and business of international project financePar Scott L. HoffmanEdition: 3, revised Publié par Cambridge University Press, 2008 ISBN 0521882206, 9780521882200; 474 pages    

Granting and Renegotiating Infrastructure Concessions: Doing it right

“This title is the fifth in an occasional series by the World Bank Institute intended to help meet the knowledge and information needs of infrastructure reformers and regulators. The book breaks new ground in relation to the design and implementation of concession contracts by culling the lessons of experience from some 1,000 examples and assessing what these lessons mean for future practice. The examples are taken from Latin America where, during the 1990s, governments throughout the region awarded contracts to the private sector to operate a range of public utilities, including electricity; water supply and sanitation; and airport, railway, and port services. The study shows the extent to which the concession award process, the contract design, the regulatory framework, and the overall governance structure tend to drive the success of any reform effort and the likelihood of contract renegotiation”.

Author(s): Jose Luis Guasch
Posted Date: Wednesday, May   09, 2007
Copyrights: The World Bank

Accessible sur le site de la Banque Mondiale Global Public-Private Partnership (PPP) in Infrastructure,http://info.worldbank.org/etools/PPPI-Portal/index.htm