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Project Financing: Asset-Based Financial Engineering (Wiley Finance)
 
 
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Project Financing: Asset-Based Financial Engineering (Wiley Finance) [Hardcover]

John D. Finnerty Ph.D. (Author)
4.4 out of 5 stars  See all reviews (7 customer reviews)

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Book Description

0470086246 978-0470086247 May 4, 2007 2
Praise for Project Financing, First Edition

"Owing to his teaching as a finance professor and as an experienced investment banker, John Finnerty brings to his book, Project Financing, an insightful perspective, blending the theoretical with the practical."
—Zoltan Merszei, former chairman, president, and CEO, The Dow Chemical Company

"Finnerty has managed to distill the complexities of project financing with its myriad components and variations. Clear, practical, and in-depth, Project Financing is a valuable user's guide for project sponsors, regulators, host governments (local and foreign), and financiers alike."
—Ricardo M. Campoy, Director, Kilgore Minerals Ltd.

"Project Financing warrants a place in the essential libraries of corporate financial managers, their advisors, senior strategists, bankers, large private investors, government officials, and anyone who aspires to master innovation in corporate finance."
—Robert F. Bruner, Dean and Charles C. Abbott Professor of Business Administration, Darden Graduate School of Business Administration, University of Virginia

"This book is the first comprehensive treatment of project financing. It provides an invaluable contribution to financial management literature and practice."
—Andrew H. Chen, Distinguished Professor of Finance, Southern Methodist University


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Editorial Reviews

From the Publisher

This timely book describes an innovative financing technique, using examples and case studies such as Euro Disneyland and the Eurotunnel to walk readers through its essential steps and procedures. Analyzes the shortcomings of unsuccessful project financing attempts. Comprehensive coverage includes the rationale for project financing, security arrangements, legal structure and contract options, preparing the financial plan, estimating the borrowing capacity on a project, sources of funds, and much more. The appendix features selected examples of project financing. --This text refers to an out of print or unavailable edition of this title.

From the Inside Flap

As an effective alternative to conventional direct financing, project financing has become one of the hottest topics in corporate finance. It's being used more and more frequently—and more successfully—on a wide variety of high-profile corporate projects, and has long been used to fund large-scale natural resource projects, from pipelines and refineries to electric-generating facilities and hydroelectric projects. But the challenges of successful project financing are immense, and the requirements of the process can easily be misunderstood.

This newly updated edition of Project Financing takes you through the process step by step. Using actual examples and case studies—including Euro Disneyland and the Eurotunnel Project—that illustrate how to apply the analytical techniques described in the book, it covers the rationale for project financing, how to prepare the financial plan, assess the risks, design the financing mix, and raise the funds.

John Finnerty draws on his vast experience in the field to detail each step of the process, describing the circumstances in which it is most likely to be advantageous, how to craft contractual arrangements to allocate risks and rewards among the interested parties, and how to deal with government, legal, tax, and financial issues. Finnerty has fully revised his original classic work to include up-to-date material on the rationale for project financing, assessing risk, security arrangements, legal structure and contract options, preparing the financial plan, estimating the borrowing capacity of a project, legal requirements, and much more.

In addition, he has added completely new chapters that cover the role of financial institutions that finance large projects, analytical tools that are increasingly useful in capital budgeting, and techniques for hedging project risks. His latest research draws from the work of renowned Harvard researcher Benjamin C. Esty and illustrates in detail why some project financing plans have succeeded while others have failed.

For corporate finance professionals, CFO's, financial analysts, project planners, and private investors, Project Financing, Second Edition demystifies the complexities of project financing and provides an invaluable guide for anyone who wants to master innovation in corporate finance today.


Product Details

  • Hardcover: 496 pages
  • Publisher: Wiley; 2 edition (May 4, 2007)
  • Language: English
  • ISBN-10: 0470086246
  • ISBN-13: 978-0470086247
  • Product Dimensions: 9.2 x 6.4 x 1.6 inches
  • Shipping Weight: 1.6 pounds (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #132,103 in Books (See Top 100 in Books)

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5.0 out of 5 stars One of the best books on Project Finance, January 19, 2012
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This review is from: Project Financing: Asset-Based Financial Engineering (Wiley Finance) (Hardcover)
As an MBA graduate from a top b-school who works in finance, I read a lot of finance related books. So far, "Project Financing: Asset-Based Financial Engineering" is the best Project Finance book I have ever read, and I read about a dozen of them. Everything is straight to the point, very clear, and supported by examples. This is not a technical guide or PF modeling textbooks for analysts, but a solid work on PF framework and strategy.
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1 of 2 people found the following review helpful:
5.0 out of 5 stars Project Financing: Asset Based Financial Engineering, May 11, 2011
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This review is from: Project Financing: Asset-Based Financial Engineering (Wiley Finance) (Hardcover)
As a graduate of NYU Stern's MBA program, and a former student of finance icons Altman and Damodaran I can say with authority this is an excellent book. I read it 2x for both pleasure and application to a project at work. It is one of the top 5 MBA books I've read (Yes, I still highlighted it with multiple colors!).

Whether you are trying to grasp MBA finance for the first time or you hunger for a mind sharpening post MBA refresher, this book can actually be "fun" to read. The author, Professor Finerty of Fordham, has created a prolific student friendly book with great immediate practical application. I hope to meet him someday.

--TP, New York
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2 of 4 people found the following review helpful:
4.0 out of 5 stars Good Text, December 10, 2008
By 
Reader (Arlington, Virginia) - See all my reviews
(VINE VOICE)   
This review is from: Project Financing: Asset-Based Financial Engineering (Wiley Finance) (Hardcover)
If you're forced to read a project finance text for a college course or for any other reason, then this one is pretty good. The writing is crisp and clear, the case studies are genuinely helpful, the length is manageable, and the reader isn't overwhelmed with tiny print, mindnumbing details, or esoteric math. But let's face it, it IS still a finance text...hence my four-star rating.
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Inside This Book (learn more)
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
steam purchase agreement, service project debt, buffer subsidiary, passive equity investors, electric power purchase agreement, initial leverage ratio, nonoperating cash flows, carried ownership interest, cash deficiency agreement, oil field project, credit support arrangements, annual debt service coverage, late payment premium, cogeneration project, undivided joint interest, informational asymmetry costs, tolling charge, debt service reserve fund, gas supply agreement, appraisal drilling, creditworthy parties, cogeneration facility, throughput agreement, project entity, steam price
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Euro Disneyland, United States, Eurotunnel System, Indiantown Cogeneration, United Kingdom, Eurotunnel Project, Magic Kingdom, Cogeneration Company, Grupo Tribasa, Bechtel Power, Lone Star, Copyright Thomson Project Finance International, Rocky Mountain, Exxon Mobil, Project Loan Facility, Transmanche Link, World Bank, Pearson Education, Upper Saddle River, Coal Purchase Agreement, Tribasa Toll Road Trust, Corporate Financial Management, General Engineering, Commercial Operation Date, Bechtel Enterprises
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