RT Journal Article
SR Electronic
T1 High-Yield Debt
JF The Journal of Structured Finance
FD Institutional Investor Journals
SP 62
OP 69
DO 10.3905/jsf.1999.320223
VO 5
IS 3
A1 Paul G. McKeon
YR 1999
UL https://pm-research.com/content/5/3/62.abstract
AB The structuring of project financings has developed significantly over the past several years as sponsors, bankers, and investors have become more sophisticated in their allocation and understanding of project risk. This article examines the evolution of financing structures, the catalyst for change, and the resulting enhancements. Based on these trends, it is anticipated that a growing number of project financings will involve innovative structures with below-investment-grade credit profiles sourcing capital from an increasing sophisticated investor base.