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Project Finance in Theory and Practice, 2nd Edition by Stefano Gatti

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Chapter 7

Legal Aspects of Project Finance

Massimo Novo1

Introduction

This chapter focuses on the legal aspects of project finance. The purpose here is to identify legal issues raised by project finance transactions and the solutions that are normally developed and adopted by operators.

The project finance technique makes it possible to raise the financial resources needed to develop an economic initiative through a bank loan (or another source of debt financing like project bonds, although we will consider here a bank loan as the typical model of a project finance structure) that is repaid from the cash flows generated by the project itself. In this sense repayment is secured by these flows. Describing the legal aspects of project finance ...

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