Infrastructure Project Finance and Project Bonds in Europe

Authors: Rossi, E., Stepic, Rok, Alerassool, Mahvash

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About this book

Project sponsors in Europe are facing more and more difficulty when acquiring conventional long-term bank loans for infrastructure projects. The regulatory landscape for debt markets will evolve further with implementation of Basel III requirements. Recently, the Asset Quality Review under the European Central Bank's Comprehensive Assessment process, and related pressures on banks' balance sheets, have constrained bank long-term lending. This has led to much discussion on non-conventional bank funding options for infrastructure deals in the future. This book analyses the project bond financing solution in detail, identifying all the specific features that make it highly suitable for large capital intensive infrastructure projects. The first part of the book assesses the main characteristics and prerequisites of project finance, including public-private partnership, infrastructure project assets and greenfield versus brownfield projects. It then discusses the European infrastructure project finance market in detail, before comparing bank conventional lending versus the project bond solution. In the final part of the book, the author presents the Europe 2020 project bond initiative, and reveals a range of key case studies and their findings.

About the authors

Emanuele Rossi is Associate Professor of Corporate Finance at the University of Milan-Bicocca, Italy. He has previously held various positions in other Italian Business schools and universities. His main research interests are corporate finance, financial market inefficiency, business valuation and portfolio management.

Rok Stepic is a Project & Commodity Finance Analyst at UniCredit Bank, Austria. He has previous experiences as financial analyst at different business institutions after completing his studies in Banking and Financial Management at University of Ljubljana, Slovenia.

Table of contents (7 chapters)

  • Introduction

    Rossi, Emanuele (et al.)

    Pages 1-6

  • Project Finance

    Rossi, Emanuele (et al.)

    Pages 7-24

  • European Infrastructure Project Finance Market

    Rossi, Emanuele (et al.)

    Pages 25-51

  • Bank Conventional Lending versus Project Bond Solution

    Rossi, Emanuele (et al.)

    Pages 52-62

  • The Europe 2020 Project Bond Initiative

    Rossi, Emanuele (et al.)

    Pages 63-79

Buy this book

eBook $49.99
price for USA (gross)
  • ISBN 978-1-137-52404-1
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $67.50
price for USA
  • ISBN 978-1-137-52403-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $67.50
price for USA
  • ISBN 978-1-349-50666-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

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Bibliographic Information

Bibliographic Information
Book Title
Infrastructure Project Finance and Project Bonds in Europe
Authors
Copyright
2015
Publisher
Palgrave Macmillan UK
Copyright Holder
Palgrave Macmillan, a division of Macmillan Publishers Limited
eBook ISBN
978-1-137-52404-1
DOI
10.1057/9781137524041
Hardcover ISBN
978-1-137-52403-4
Softcover ISBN
978-1-349-50666-8
Edition Number
1
Number of Pages
XII, 116
Topics