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The Term Structure of Credit Spreads in Project Finance

This paper finds that the term structure of credit spreads in project finance is hump-shaped. This contrasts with other types of debt, where credit risk is shown instead to increase monotonically with maturity ceteris paribus. We emphasize a number of peculiar features of project finance structures...

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Bibliographic Details
Main Authors: Sorge, Marco, Gadanecz, Blaise
Language:EN
Published: 2012
Subjects:
Interest Rates: Determination, Term Structure, and Effects E430
International Financial Markets G150
Financing Policy
Financial Risk and Risk Management
Capital and Ownership Structure G320
Economic Development: Financial Markets
Saving and Capital Investment
Corporate Finance and Governance O160
Formal and Informal Sectors
Shadow Economy
Institutional Arrangements O170
Online Access:http://hdl.handle.net/10986/4956

Internet

http://hdl.handle.net/10986/4956

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