Book description
Much of leveraged finance credit analysis focuses on cash flows. But what happens when the credit you have to look at has no cash flow? What if it is a very early stage credit or a pure start-up project? Then you need to be able to combine the tools of project finance credit analysis with the tools of leveraged finance analysis. The leveraged finance market sees its share of project finance fundings and as an analyst you need to know how to approach these debt instruments. This booklet will guide you through the practical aspects of analyzing the feasibility of a project, building models for the project and analyzing what factors are most likely to influence how the bonds and loans on the project will trade.
Table of contents
- Title Page
- Copyright Page
-
How to Analyze and Use Leveraged Finance Bonds for Project Finance
- Introduction
- What and Why of Project Finance
- Feasibility Analysis
- Construction Costs
- Revenue Generation
- Operating Costs and Capital Spending
- Funding
- Debt-to-Equity Ratio and Variations
- Debt Ranking and Structure
- Covenants
- Net Present Value
- Impact on Trading Levels of the Debt
- A Closing Note
- Endnotes
- Related Titles from FT Press
Product information
- Title: How to Analyze and Use Leveraged Finance Bonds for Project Finance
- Author(s):
- Release date: October 2012
- Publisher(s): Pearson
- ISBN: 9780133150605
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