ARE PROJECT FINANCE LOANS DIFFERENT FROM OTHER SYNDICATED CREDITS?
This paper provides the first full-length empirical analysis of project finance, which is defined as "limited or non-recourse financing of a newly to be developed project through the establishment of a vehicle company." The article compares the characteristics of a sample of 4,956 project finance loans (worth $634 billion) to comparable samples of non-project finance loans, all of which are drawn from a comprehensive sample of 90,784 syndicated loans (worth $13.2 trillion) booked on international capital markets since 1980. 2000 Morgan Stanley.
Year of publication: |
2000
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Authors: | Kleimeier, Stefanie ; Megginson, William L. |
Published in: |
Journal of Applied Corporate Finance. - Morgan Stanley, ISSN 1078-1196. - Vol. 13.2000, 1, p. 75-87
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Publisher: |
Morgan Stanley |
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