Contract risks and credit spread determinants in the international project bond market
By: Mansoor Dailami and Robert Hauswald.
Contributors: Hauswald, Robert.; World Bank Institute. Governance, Regulation, and Finance Division.
Series: Policy research working paper ;; 2712; Policy research working papers (Online) ;; 2712.
Publisher: World Bank, World Bank Institute, Governance, Regulation, and Finance Division
Published: 2001
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Economic development projects -- Finance.; Project finance.; Infrastructure (Economics) -- Finance.; Bond market.; Capital market.; Risk.
Description: 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.
Notes: Includes bibliographical references (p. [46]-48).
Title from title screen as viewed on Aug. 24, 2002.
"November 2001."
Also available in print.
Mode of access: World Wide Web.