Using capital markets to finance projects

Article Abstract:

An analysis of 1996 trends in private-sector involvement in infrastructure projects demonstrates that power projects offer the greatest potential but telecommunications companies and water projects are also growth areas. Notable trends and events in 1996 included the financial closure of India's Dabhol and Indonesia's Paiton projects, the first independent power projects in these countries, and the increase in project size forcing sponsors to raise debt from a range of sources including capital markets. A list of infrastructure projects planned or in progress in 1996 is included.

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Risk allocation remains central to PFI

Article Abstract:

A report by the Confederation of British Industry (CBI), Private skills in public service: tuning the PFI, recommends that the number of projects allotted to the private finance initiative (PFI) by restricted by establishing a minimum project value of 10 million pounds sterling. The report also calls for improved risk allocation processes. The Treasury Committee believes that the lack of effective monitoring of liabilities could lead to an increase in public spending.

Legislative Bodies, Public Works & Transportation

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Financing projects in the bond markets

Article Abstract:

There is increased interest in using bonds to finance projects as investment banks seek to take a larger share of the international project financing market. They list five key advantages to the use of bonds such as access to cheaper funds with longer maturities, less onerous covenants and less documentation. However it is not guaranteed that funds will be available at financial close and the majority of bonds are denominated in US dollars.

Usage, Bonds, Bonds (Securities)

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