Asset and Project Finance

More complex forms of finance can be structured to finance a specific set of assets or a narrowly defined business or project where the lenders will have recourse only to those particular assets or projects. Often the borrower is seeking to limit their own risk to the project and if this is the case the lenders will want to build in more protection for themselves. Asset and Project Finance therefore covers: international securitised and collateralised debt markets; managing a securitisation, a CDO (collateralised debt obligation) / CLO (collateralised loan obligation) transaction or ABCP (asset backed commercial paper) programme; and public private partnership funding e.g. PFI, PPP. It includes asset backed or asset based loans, leasing and "sale and lease back". The complex structuring and security packages mean that care and expertise will be needed in the finance documentation and in the management of conduit companies and SPVs (special purpose vehicles).