The Law and Business of International Project Finance, Second Edition

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. This 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 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.