Option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects

The concept of Public-Private Partnerships (PPPs) and its application in procurement and development of infrastructure projects have been promoted worldwide due to the introduction of additional financing sources and value for money by this means. A large portion of debt or high leverage is usually...

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Main Author: Zheng, Sha
Other Authors: Tiong Lee Kong, Robert
Format: Theses and Dissertations
Language:English
Published: 2014
Subjects:
Online Access:https://hdl.handle.net/10356/55239
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-552392023-03-03T19:39:50Z Option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects Zheng, Sha Tiong Lee Kong, Robert School of Civil and Environmental Engineering DRNTU::Engineering::Civil engineering::Construction management The concept of Public-Private Partnerships (PPPs) and its application in procurement and development of infrastructure projects have been promoted worldwide due to the introduction of additional financing sources and value for money by this means. A large portion of debt or high leverage is usually structured in PPP infrastructure projects. It is very common for infrastructure PPP projects to undertake debt refinancing for improving project sponsors’ returns at a later stage. It is considered particularly suitable for long-term infrastructure projects where the construction has been completed and the successful operation has been demonstrated. The project profile has become less risky and can obtain better terms in refinancing. The aim of this research is to quantify the financing flexibility created by the future debt-refinancing opportunities and optimize refinancing plans in PPP infrastructure projects in the perspective of project sponsors. The scope of the research is to study the debt refinancing with the potential of return enhancement or generating refinancing gains in PPP infrastructure projects. This research contributes to the knowledge set on understanding the role of debt refinancing in PPP infrastructure projects by delivering the “option to refinance” valuation (ORV) framework and the debt-refinancing optimization (DRO) model. Doctor of Philosophy (CEE) 2014-01-06T06:40:43Z 2014-01-06T06:40:43Z 2013 2013 Thesis Zheng, S. (2013). Option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects. Doctoral thesis, Nanyang Technological University, Singapore. https://hdl.handle.net/10356/55239 10.32657/10356/55239 en 221 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Engineering::Civil engineering::Construction management
spellingShingle DRNTU::Engineering::Civil engineering::Construction management
Zheng, Sha
Option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects
description The concept of Public-Private Partnerships (PPPs) and its application in procurement and development of infrastructure projects have been promoted worldwide due to the introduction of additional financing sources and value for money by this means. A large portion of debt or high leverage is usually structured in PPP infrastructure projects. It is very common for infrastructure PPP projects to undertake debt refinancing for improving project sponsors’ returns at a later stage. It is considered particularly suitable for long-term infrastructure projects where the construction has been completed and the successful operation has been demonstrated. The project profile has become less risky and can obtain better terms in refinancing. The aim of this research is to quantify the financing flexibility created by the future debt-refinancing opportunities and optimize refinancing plans in PPP infrastructure projects in the perspective of project sponsors. The scope of the research is to study the debt refinancing with the potential of return enhancement or generating refinancing gains in PPP infrastructure projects. This research contributes to the knowledge set on understanding the role of debt refinancing in PPP infrastructure projects by delivering the “option to refinance” valuation (ORV) framework and the debt-refinancing optimization (DRO) model.
author2 Tiong Lee Kong, Robert
author_facet Tiong Lee Kong, Robert
Zheng, Sha
format Theses and Dissertations
author Zheng, Sha
author_sort Zheng, Sha
title Option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects
title_short Option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects
title_full Option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects
title_fullStr Option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects
title_full_unstemmed Option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects
title_sort option-based quantification and generic optimization of debt refinancing in public-private partnership infrastructure projects
publishDate 2014
url https://hdl.handle.net/10356/55239
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