Does a well-structured PPP project get financed at a corporate interest rate?

The present study tries to determine if a well-structured Public-Private Partnership (PPP) profits from a preferential interest rate from financiers. The research will explain the main characteristics, documents and stakeholders in a Public Private Partnership in order to justify the main assumptions made. A statistical analysis will show that, for the selected data, even though risks in a well-structured PPP are efficiently allocated and optimally covered the credit spread paid by an SPV is greater than that paid by a corporate.


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Banque & Stratégie n°326

ESCP Europe Applied Research Papers 2

Even though we may think that project finance is a new and revolutionary way to ensure the procurement of infrastructure based services, project finance is actually just a more sophisticated way of finance that has been used for more than 500 years. The discovery of America was financed through the means of private equity using some of the techniques that we currently use[1].  Even more what we know now as the French concession model emerged in the mid XVII century.  So project finance is not a newly invented financing technique. Modern financial knowledge and the invention of new ...
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