The Term Structure of Credit Spreads in Project Finance

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
Format: Journal Article
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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