Project finance for public private partnerships: Evidence from Australia

Michael Regan, Jim Smith, Peter Love

Research output: Chapter in Book/Report/Conference proceedingConference contributionResearchpeer-review

Abstract

PPP projects are contractually complex and require the participation of many actors and a large number of tripartite and quad-partite agreements that connect the actors jointly and severally. Central to the PPP agreement is the role of project lenders, often syndicated and represented by a lead financier and a securities trustee. The party most exposed to project risk in financial terms is the financier. In most project finance arrangements, lenders play an important role in monitoring the consortium's performance under the contract which subsists in parallel to the performance monitoring of the government agency to ensure the services delivered by the consortium meet specification. This paper presents a study using a cross-sectional analysis of PPP financing in Australia with three case studies in Victoria, Queensland, and New South Wales (NSW), Australia. The object of the analyses is to discover common features in the way major infrastructure PPP projects are financed in Australia, identify differences to practices in overseas markets, and gain knowledge and lessons learnt that may inform future PPP policy and private finance in Australia and overseas.

Original languageEnglish
Title of host publicationAdvances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-Private Partnerships
EditorsC.M. Walton, O. de Buen Richkarday, X. Li
PublisherAmerican Society of Civil Engineers (ASCE)
Pages1-13
Number of pages13
ISBN (Electronic)9780784480267
DOIs
Publication statusPublished - 2017
Event2nd International Conference on Public-Private Partnerships 2015 - Austin, Austin, United States
Duration: 26 May 201529 May 2015
Conference number: 2nd
http://www.icppp2015.org/

Conference

Conference2nd International Conference on Public-Private Partnerships 2015
Abbreviated titleICPPP 2015
CountryUnited States
CityAustin
Period26/05/1529/05/15
Internet address

Fingerprint

Public-private partnerships
Project finance
Consortium
Government agencies
Cross-sectional analysis
Participation
Wales
Performance monitoring
Common features
Private finance
Monitoring
Financing
Queensland

Cite this

Regan, M., Smith, J., & Love, P. (2017). Project finance for public private partnerships: Evidence from Australia. In C. M. Walton, O. de Buen Richkarday, & X. Li (Eds.), Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-Private Partnerships (pp. 1-13). American Society of Civil Engineers (ASCE). https://doi.org/10.1061/9780784480267.001
Regan, Michael ; Smith, Jim ; Love, Peter. / Project finance for public private partnerships : Evidence from Australia. Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-Private Partnerships. editor / C.M. Walton ; O. de Buen Richkarday ; X. Li. American Society of Civil Engineers (ASCE), 2017. pp. 1-13
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Regan, M, Smith, J & Love, P 2017, Project finance for public private partnerships: Evidence from Australia. in CM Walton, O de Buen Richkarday & X Li (eds), Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-Private Partnerships. American Society of Civil Engineers (ASCE), pp. 1-13, 2nd International Conference on Public-Private Partnerships 2015, Austin, United States, 26/05/15. https://doi.org/10.1061/9780784480267.001

Project finance for public private partnerships : Evidence from Australia. / Regan, Michael; Smith, Jim; Love, Peter.

Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-Private Partnerships. ed. / C.M. Walton; O. de Buen Richkarday; X. Li. American Society of Civil Engineers (ASCE), 2017. p. 1-13.

Research output: Chapter in Book/Report/Conference proceedingConference contributionResearchpeer-review

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Regan M, Smith J, Love P. Project finance for public private partnerships: Evidence from Australia. In Walton CM, de Buen Richkarday O, Li X, editors, Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-Private Partnerships. American Society of Civil Engineers (ASCE). 2017. p. 1-13 https://doi.org/10.1061/9780784480267.001