Project Finance Analysis Glossary

A

• Acceleration in Project Finance
• Accrued interest in Project Finance
• Amortization in Project Finance
• Amortization in Project Finance
• Amortization schedule in Project Finance
• Annuity in Project Finance
• Appraisal in Project Finance
• Appraised Value in Project Finance
• Arrangement Fee in Project Finance
• Arranger in Project Finance
• Asset class in Project Finance
• Asset-backed security in Project Finance
• Availability payment in Project Finance
• Availability Payment in Project Finance
• Availability payment structure in Project Finance

B

• Base case in Project Finance
• Base rate in Project Finance
• Base Rate in Project Finance
• Basis Point in Project Finance
• Bid Bond in Project Finance
• Bilateral Agencies in Project Finance
• Bond in Project Finance
• Bond in Project Finance
• Break Clause in Project Finance
• Break-Even in Project Finance
• Bridge Financing in Project Finance
• Build-operate-transfer (BOT) in Project Finance
• Bullet in Project Finance
• Bullet payment in Project Finance
• Business plan in Project Finance
• Buy-back in Project Finance
• Buyer Credit in Project Finance

C

• Call Option in Project Finance
• Capital Appreciation in Project Finance
• Capital Asset Pricing Model in Project Finance
• Capital Costs in Project Finance
• Capital expenditure (CAPEX) in Project Finance
• Capital Expenditure in Project Finance
• Capital stack in Project Finance
• Capital that is already spent. in Project Finance
• Capitalized Interest in Project Finance
• Cash flow in Project Finance
• Cash Flow Statements in Project Finance
• Cash flow waterfall in Project Finance
• Cash Operating Cycle in Project Finance
• Cash sweep in Project Finance
• Clawback in Project Finance
• Collar in Project Finance
• Collateral in Project Finance
• Collateral in Project Finance
• Commercial Close in Project Finance
• Commercial paper in Project Finance
• Commercial Risk in Project Finance
• Commissioning in Project Finance
• Commitment Fee in Project Finance
• Completion guarantee in Project Finance
• Completion risk in Project Finance
• Completion Risk in Project Finance
• Completion Tests in Project Finance
• Compound Interest in Project Finance
• Concession Agreement in Project Finance
• Concession in Project Finance
• Concession in Project Finance
• Concessional Finance in Project Finance
• Conditions Precedent in Project Finance
• Consortium in Project Finance
• Construction loan in Project Finance
• Construction risk in Project Finance
• Contingency in Project Finance
• Contingency in Project Finance
• Contingent liability in Project Finance
• Contingent Liability in Project Finance
• Convertible Currency in Project Finance
• Cost of Debt in Project Finance
• Cost of Equity in Project Finance
• Counterparty in Project Finance
• Counterparty risk in Project Finance
• Country Risk in Project Finance
• Credit Rating Agency in Project Finance
• Credit Risk in Project Finance
• Creditworthy in Project Finance
• Cross-collateral in Project Finance
• Cross-Default in Project Finance
• Cure in Project Finance
• Currency Basket in Project Finance
• Currency Option in Project Finance
• Currency Risk in Project Finance
• Currency Swap in Project Finance

D

• Debt capacity in Project Finance
• Debt Rescheduling in Project Finance
• Debt restructuring in Project Finance
• Debt service coverage ratio (DSCR) in Project Finance
• Debt service reserve account (DSRA) in Project Finance
• Debt-to-equity ratio in Project Finance
• Debt-to-service coverage ratio (DSCR) in Project Finance
• Default event in Project Finance
• Default in Project Finance
• Default Interest in Project Finance
• Default rate in Project Finance
• Default Risk in Project Finance
• Defects Liability in Project Finance
• Defects Liability Period in Project Finance
• Deficiency Agreement in Project Finance
• Delay liquidated damages in Project Finance
• Demand coverage ratio in Project Finance
• Demand Line of Credit in Project Finance
• Demand risk in Project Finance
• Depreciation in Project Finance
• Despatch Instructions in Project Finance
• Devaluation in Project Finance
• Development bank in Project Finance
• Development phase in Project Finance
• Direct Agreement in Project Finance
• Drawdown in Project Finance
• Due diligence in Project Finance
• Due Diligence Report in Project Finance

E

• Early stage financing in Project Finance
• Economic feasibility in Project Finance
• Energy off-taker in Project Finance
• Environmental and social impact assessment (ESIA) in Project Finance
• Environmental Impact Assessment in Project Finance
• Environmental Impact Statement in Project Finance
• Environmental Risk in Project Finance
• EPC Contract in Project Finance
• Equity bridge loan in Project Finance
• Equity cushion in Project Finance
• Equity in Project Finance
• Equity internal rate of return (IRR) in Project Finance
• Equity kicker in Project Finance
• Equity Kicker in Project Finance
• Escrow account in Project Finance
• Escrow in Project Finance
• Event of Default in Project Finance
• Exchange Controls in Project Finance
• Export Credit Agencies in Project Finance
• Expropriation in Project Finance

F

• Facility Fee in Project Finance
• Feasibility study in Project Finance
• Feasibility Study in Project Finance
• Financial close in Project Finance
• Financial Close in Project Finance
• Financial covenant in Project Finance
• Financial Internal Rate of Return in Project Finance
• Financial leverage in Project Finance
• Financial model in Project Finance
• Financial statement in Project Finance
• Financial viability in Project Finance
• Fiscal Risk in Project Finance
• Fixed assets in Project Finance
• Fixed charge coverage ratio (FCCR) in Project Finance
• Fixed rate in Project Finance
• Fixed Rate in Project Finance
• Fixed Rate Loan in Project Finance
• Floating Charge in Project Finance
• Floating Currency in Project Finance
• Floating Interest Rate in Project Finance
• Floating rate in Project Finance
• Force majeure in Project Finance
• Force Majeure in Project Finance
• Forecasting Working Capital in Project Finance
• Foreign Exchange Risk in Project Finance
• Forex in Project Finance
• Forward contract in Project Finance
• Forward Contract in Project Finance
• Forward Market in Project Finance
• Forward Rate in Project Finance
• Front-end fee in Project Finance
• Front-end Fee in Project Finance
• Future Value in Project Finance

G

• Gantt Chart in Project Finance
• Gas supply agreement in Project Finance
• Global Competitiveness Index in Project Finance
• Government bond in Project Finance
• Government support in Project Finance
• Grace Period in Project Finance
• Grant in Project Finance
• Grantor in Project Finance
• Green bond in Project Finance
• Greenfield in Project Finance
• Greenfield project in Project Finance
• Guarantee in Project Finance
• Guarantor in Project Finance

H

• Hard currency in Project Finance
• Hard Currency in Project Finance
• Hedge in Project Finance
• Host government agreement in Project Finance
• Host government in Project Finance
• Hurdle Rate in Project Finance

I

• In Situ Treatment in Project Finance
• Inconvertibility in Project Finance
• Indemnification in Project Finance
• Independent engineer in Project Finance
• Independent power producer (IPP) in Project Finance
• Inflation in Project Finance
• Inflation rate in Project Finance
• Infrastructure in Project Finance
• Initial margin in Project Finance
• Initial public offering (IPO) in Project Finance
• Input Supplier in Project Finance
• Input Supply Agreement in Project Finance
• Insolvency in Project Finance
• Institutional Framework in Project Finance
• Institutional Investors in Project Finance
• Insurance in Project Finance
• Intercreditor agreement in Project Finance
• Intercreditor Agreement in Project Finance
• Interest coverage ratio (ICR) in Project Finance
• Interest During Construction in Project Finance
• Interest Rate in Project Finance
• Interest rate swap in Project Finance
• Internal rate of return (IRR) in Project Finance
• Internal Rate of Return (IRR) in Project Finance
• Internal Rate of Return or IRR in Project Finance
• International Development Agency in Project Finance
• International Finance Corporation in Project Finance
• International Financial Institution in Project Finance
• International Lending in Project Finance
• Intra Vires in Project Finance
• Invoice Discounting in Project Finance
• IPP in Project Finance

J

• Joint and Several Liability in Project Finance
• Joint Liability in Project Finance
• Joint Operating Agreement in Project Finance
• Joint venture in Project Finance
• Joint Venture in Project Finance
• Junk bond in Project Finance

L

• Latent Default in Project Finance
• Legal Risk in Project Finance
• Lender in Project Finance
• Letter of credit (LOC) in Project Finance
• Letter of support in Project Finance
• Licensing in Project Finance
• Lien in Project Finance
• Limited Partnership in Project Finance
• Limited recourse in Project Finance
• Limited Recourse in Project Finance
• Liquidated Damages in Project Finance
• Liquidity in Project Finance
• Liquidity in Project Finance
• Liquidity Management in Project Finance
• Loan agreement covenant in Project Finance
• Loan agreement in Project Finance
• Loan syndication in Project Finance
• Loan-to-value (LTV) ratio in Project Finance

M

• Maintenance Bond in Project Finance
• Maintenance covenant in Project Finance
• Maintenance reserve in Project Finance
• Marginal cost in Project Finance
• Marginal Cost of Capital in Project Finance
• Market risk in Project Finance
• Market Risk in Project Finance
• Material adverse change (MAC) in Project Finance
• Material Adverse Change Clause in Project Finance
• Material breach in Project Finance
• Maturity date in Project Finance
• Merchant Bank in Project Finance
• Merchant plant in Project Finance
• Merchant project in Project Finance
• Mezzanine debt in Project Finance
• Mezzanine financing in Project Finance
• Mezzanine Financing in Project Finance
• Middle Market in Project Finance
• Mini-perm loan in Project Finance
• Mitigation in Project Finance
• Mortgage in Project Finance
• Multilateral Lending Agencies in Project Finance

N

• Nationalization in Project Finance
• Natural Gas in Project Finance
• Natural Monopoly in Project Finance
• Net cash flow in Project Finance
• Net present value (NPV) in Project Finance
• Net Present Value in Project Finance
• Non-binding offer in Project Finance
• Non-convertible Currency in Project Finance
• Non-disclosure agreement (NDA) in Project Finance
• Non-recourse debt in Project Finance
• Non-recourse in Project Finance
• Non-recourse in Project Finance
• Novation in Project Finance
• NPV in Project Finance

O

• Off-balance sheet financing in Project Finance
• Off-balance Sheet Liabilities in Project Finance
• Off-taker in Project Finance
• Offshore Entity in Project Finance
• Offshore wind farm in Project Finance
• Offtake in Project Finance
• Offtake Purchase Agreement in Project Finance
• Offtake Purchaser in Project Finance
• Operating company (OpCo) in Project Finance
• Operating expense (OPEX) in Project Finance
• Operating expense reserve in Project Finance
• Operating lease in Project Finance
• Operating lease in Project Finance
• Operating Risk in Project Finance
• Operation and Maintenance Agreement in Project Finance
• Optimal Capital Structure in Project Finance

P

• Parent company guarantee in Project Finance
• Pari Passu in Project Finance
• Participation in Project Finance
• Payment mechanism in Project Finance
• Penalty Clause in Project Finance
• Performance bond in Project Finance
• Performance Bond in Project Finance
• Performance guarantee in Project Finance
• Permanent Works in Project Finance
• PFI in Project Finance
• Political risk in Project Finance
• Political Risk in Project Finance
• Portfolio risk in Project Finance
• Power purchase agreement (PPA) in Project Finance
• Power Purchase Agreement in Project Finance
• Pre-emptive Rights in Project Finance
• Preferred equity in Project Finance
• Price escalation in Project Finance
• Prime Rate in Project Finance
• Private Finance Initiative in Project Finance
• Private placement in Project Finance
• Procurement in Project Finance
• Procurement in Project Finance
• Project bond in Project Finance
• Project company (ProjCo) in Project Finance
• Project Contract in Project Finance
• Project Control in Project Finance
• Project development agreement (PDA) in Project Finance
• Project Documents in Project Finance
• Project Evaluation Review Technique (PERT) in Project Finance
• Project finance in Project Finance
• Project Finance Risk in Project Finance
• Project Financing in Project Finance
• Project Legal Aspects in Project Finance
• Project Planning in Project Finance
• Public Private Partnership Framework in Project Finance
• Public-private partnership (PPP) in Project Finance
• Purchase Option in Project Finance
• Put or Put Option in Project Finance
• Put-or-pay Contract in Project Finance

Q

• Qualitative Risk Assessment in Project Finance

R

• Rate of return in Project Finance
• Ratio in Project Finance
• Receivable Management in Project Finance
• Recourse in Project Finance
• Refinancing in Project Finance
• Refinancing risk in Project Finance
• Regulatory compliance in Project Finance
• Regulatory risk in Project Finance
• Remitting Bank in Project Finance
• Renewable portfolio standard (RPS) in Project Finance
• Repayment schedule in Project Finance
• Residual value guarantee in Project Finance
• Residual value in Project Finance
• Restructuring in Project Finance
• Risk allocation in Project Finance
• Risk Management in Project Finance
• Risk Mitigation in Project Finance
• Risk Options in Project Finance

S

• Sale and leaseback in Project Finance
• Sale and Leaseback in Project Finance
• Sales Completion in Project Finance
• Salvage Value in Project Finance
• Secondary Market in Project Finance
• Securitization in Project Finance
• Securitization in Project Finance
• Security in Project Finance
• See Special Purpose Entity. in Project Finance
• Senior debt in Project Finance
• Senior debt service reserve in Project Finance
• Senior debt to total debt ratio in Project Finance
• Sensitivity in Project Finance
• Set–Off Clause in Project Finance
• Several Liability in Project Finance
• Shadow Tolls in Project Finance
• Share Retention Agreement in Project Finance
• Shareholder loan in Project Finance
• Shareholders Agreement in Project Finance
• Short–Term in Project Finance
• Simple Interest in Project Finance
• Sinking Fund in Project Finance
• Solvency in Project Finance
• Sovereign Guarantee in Project Finance
• Sovereign Immunity in Project Finance
• Sovereign Risk in Project Finance
• Special Purpose Entity (SPE) in Project Finance
• Special Purpose Vehicle (SPV) in Project Finance
• Sponsor equity in Project Finance
• Sponsor in Project Finance
• Sponsor in Project Finance
• Sponsor support in Project Finance
• Spot Market in Project Finance
• Spot Price in Project Finance
• Stakeholder in Project Finance
• Standby letter of credit (SBLC) in Project Finance
• Standby Letter of Credit in Project Finance
• Step–In Rights in Project Finance
• Step–Up Margin in Project Finance
• Stranded Costs in Project Finance
• Stripped Bonds in Project Finance
• Structural Subordination in Project Finance
• Structure in Project Finance
• Structured finance in Project Finance
• Sub–Sovereign Risks in Project Finance
• Subcontractor in Project Finance
• Subordinated debt in Project Finance
• Subordinated in Project Finance
• Subordination in Project Finance
• Subsidiary in Project Finance
• Sunk Costs in Project Finance
• Supplier Credit in Project Finance
• Supply Risk in Project Finance
• Supply–or–Pay Contract in Project Finance
• Surety Bond in Project Finance
• Swap in Project Finance
• Sweep in Project Finance
• Syndicated Loan in Project Finance
• Syndication in Project Finance
• Synthetic Lease in Project Finance
• Synthetic Loan in Project Finance
• Systematic Risk in Project Finance

T

• Take-out financing in Project Finance
• Tax abatement in Project Finance
• Tax equity financing in Project Finance
• Tax equity in Project Finance
• Tax Exemptions and Incentives in Project Finance
• Tax increment financing in Project Finance
• Tax rate in Project Finance
• Technical due diligence in Project Finance
• Tenor in Project Finance
• Term loan in Project Finance
• Term sheet in Project Finance
• Termination fee in Project Finance
• The incremental cost of financing. in Project Finance
• The Term Sheet in Project Finance
• Throughput agreement in Project Finance
• Title insurance in Project Finance
• Total return swap in Project Finance
• Transfer pricing in Project Finance

U

• Underwriting in Project Finance
• Undivided Interest in Project Finance
• Unfunded capital expenditures (UFC) in Project Finance
• Unitranche financing in Project Finance
• Unsecured Loan in Project Finance
• Unsolicited Bid in Project Finance
• Use-or-pay Contract in Project Finance
• Useful Life in Project Finance

V

• Vacant Possession in Project Finance
• Valuation in Project Finance
• Value engineering in Project Finance
• Variable rate demand obligation (VRDO) in Project Finance
• Variable rate in Project Finance
• Variable Rate Loan in Project Finance
• Vendor financing in Project Finance
• Vendor take-back in Project Finance
• Venture Capital in Project Finance
• Viability Gap Funding (VGF) in Project Finance
• Volatility in Project Finance
• Volatility in Project Finance

W

• WACC in Project Finance
• Warrant in Project Finance
• Warranty Deed in Project Finance
• Weighted Average Cost of Capital in Project Finance
• Withholding tax in Project Finance
• Without Recourse in Project Finance
• Working capital facility in Project Finance
• Working capital in Project Finance
• Working Capital in Project Finance
• Working Capital Management in Project Finance
• Working Capital Replenishment in Project Finance
• Wraparound Loan in Project Finance
• Write-down in Project Finance

Y

• Yield Curve in Project Finance
• Yield Maintenance in Project Finance