Transportation Finance Review 2004 / 2005

Transportation:

Transportation Finance Review 2004 / 2005

Euromoney Institutional Investor PLC
Book October 2004

Euromoney Yearbook's Transportation Finance Review offers a highly authoritative reflection of the changing face of global transport development and its funding. Individual chapters from leading transport players focus on aspects of finance, regulatory issues and infrastructure development, with particular emphasis on project finance, PPP and privatisation.

Country specific chapters feature case studies of recent projects presenting an informative picture of infrastructure modernisation around the world, and how it is being financed. More general chapters explain the newest forms of funding structures, contractual negotiations, and market trends.

For this 7th edition of Transportation Finance Review, road and air feature prominently, mirroring current industry activity. Chapters on road include: EUROPPASS-Austria, the Brebemi toll road, Autopista Central-Chile, Autovía del Camino-Spain, and Mexican toll roads. Privatisation and airport master planning are among the subjects representing the air industry.

Other Chapters include: PPPs in Brazil, bank finance for road projects in the UK and Ireland, successfully negotiating road concessions, UK light and heavy rail, PPP for rail infrastructure, transportation financing and the Australian capital markets.With articles from four of the five continents, Transportation Finance Review is truly a global picture of today's developing transportation infrastructure and a window on the future of travel.

AIRPORTS

CHAPTER 1: Airport development: Cyclicial recovery driving private sector interest
CHAPTER 2: Creating value through airport master planning
CHAPTER 3: Airport privatisation in the new era: Market trends and strategies

ROADS

CHAPTER 4: The UK and Irish road sectors
CHAPTER 5: Financing Spanish roads
CHAPTER 6: Autovía del Camino: First monoline-wrapped Spanish public shadow road financing
CHAPTER 7: EUROPPASS - the first PPP in Austria
CHAPTER 8: EUROPPASS - Toll road success for Austria
CHAPTER 9: First DBFO-project for road infrastructure in Austria
CHAPTER 10: Public Private Partnerships for road infrastructure development in Mexico
CHAPTER 11: Toward successful PPP road schemes in Mexico
CHAPTER 12: Autopista Central - A first for Chile
CHAPTER 13: Successfully negotiating road concessions in CEE
CHAPTER 14: Financing issues on PFI road projects

RAIL

CHAPTER 15: PPP for rail infrastructure
CHAPTER 16: The UK heavy rail industry - Back on track?

MARKET REVIEWS

CHAPTER 17: Transportation financing and the Australian capital markets
CHAPTER 18: Italy, the candy store: A market review
CHAPTER 19: Public Private Partnerships in Brazil
CHAPTER 20: PPP/PFI in Italy: So much to come
CHAPTER 21: Examining the latest developments in Spanish road financing

APPENDIX
League tables for the transportation project finance market 2003/04 by Dealogic

"The airline industry is fundamentally changing in response to cost pressures, regulatory liberalisation and changing consumer behaviour. Global airline traffic remains volatile, but a return to industry profitability (but not value creation) may now be in sight. Airports are gradually responding to the dynamics of the airline sector, shaping capital expenditure to meet the changing customer base. Airport revenue and profitability remain stable, with stock market investors, financial institutions and trade buyers attracted to airports due to their strong investment characteristics. Debt market conditions are also positive, with low cost of funds and considerable debt capacity encouraging greater leverage. These beneficial conditions have led to the re-emergence of the airport privatisation pipeline, with governments reinitiating programmes to introduce private sector operation, management and financing of national airports. Noticeable steps towards the private sector have been taken in Belgium and France in Europe, and Japan, Hong Kong and India in the Asia-Pacific region."

Introduction by Peter Stonor, ABN AMRO Corporate Finance

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