Tome La Siguiente Salida (Take the Next Exit)

In this case study, we examine a disastrous series of private infrastructure equity and debt investments: ten Spanish toll roads procured between 1998 and 2004. Despite these projects being procure ...

Author(s):

Silvia Garcia Moraleja

Senior Analyst at EDHEC Infrastructure Institute

Frédéric Blanc-Brude

Director of the EDHEC Infrastructure Institute.

Tim Whittaker

Associate Research Director at the EDHEC Infrastructure Institute and Head of Data Collection.

In this case study, we examine a disastrous series of private infrastructure equity and debt investments: ten Spanish toll roads procured between 1998 and 2004. Despite these projects being procured with the discipline of non-recourse project financing and the presence of a blanket government guarantee, within a few years of their becoming operational, nine out of ten roads were bankrupt, their equity investors wiped out and their lenders booking losses of 90 cents on the dollar.

Pdf
Tome La Siguiente Salida (Take the Next Exit)...
(-1.00 B)
Type: EDHEC Publication
Date: le 11/04/2018
Extra information :

EDHECInfra

Research Cluster : Infrastructure

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