Contract risks and credit spread determinants in the international project bond market [electronic resource] / Mansoor Dailami and Robert Hauswald.
In infrastructure projects bondholders and shareholders share residual risks over time despite debt covenants meant to mitigate risk shifting. For projects accessing international bond markets to benefit from longer maturities and lower borrowing costs, it is therfore necessary to pay attention to s...
Saved in:
| Online Access: |
Full Text (via Open Knowledge Repository) |
|---|---|
| Main Author: | |
| Corporate Author: | |
| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C. :
World Bank, World Bank Institute, Governance, Regulation, and Finance Division,
[2001]
|
| Series: | Policy research working papers
no. 2712. |
| Subjects: |
| Summary: | In infrastructure projects bondholders and shareholders share residual risks over time despite debt covenants meant to mitigate risk shifting. For projects accessing international bond markets to benefit from longer maturities and lower borrowing costs, it is therfore necessary to pay attention to such design features as capital structure, guarantees, off-take agreement, and project economics. |
|---|---|
| Physical Description: | 1 online resource (48 pages) : illustrations. |
| Bibliography: | Includes bibliographical references (pages 46-48). |