Acknowledgments

I would like to express my gratitude to those who helped me with the preparation of this book. Thanks to my former colleagues at Morgan Stanley & Co., Lazard Frères & Co., and Houlihan Lokey Howard & Zukin for many informative discussions concerning project finance and about “what really makes it work.” I am also grateful for the insights I have gained through numerous discussions with Zoltan Merszei, former President of Thyssen Henschel America and former Chairman, President, and CEO of Dow Chemical Company, concerning the application of project financing to infrastructure investment, such as high-speed rail projects.

Special thanks go to Myles C. Thompson and Jacque Urinyi at John Wiley & Sons for their work on the first edition; Bill Falloon and Laura Walsh for their terrific assistance on the second edition; Tiffany Charbonier for her expert guidance and support on third edition; and Mary Daniello for guiding the third edition through the production process.

I am very grateful to Lawrence A. Darby, III, Esq., Sean J. Griffith, Esq., Stephen B. Land, Esq., Hal Moore, Esq., and Omar T. Mohammedi, Esq., for insightful discussions regarding project finance and the legal and tax considerations involved. Larry is an experienced hand at project finance and provided many helpful suggestions, Sean and Hal are valued colleagues at Fordham University, Steve made sure I got the tax discussion right in the first edition, and Omar furnished helpful guidance concerning Sharia-compliant project financing, which I put to good use in writing Chapter 15. Albert Gavalis of Graf Repetti & Co., and Paul Bocitner of Fordham University reviewed the tax discussion in Chapter 8 of the second edition and provided helpful suggestions. Jim Arata of RSM McGladrey made several useful suggestions regarding the tax discussion in the third edition. Martin Kehoe and Chad Soares furnished several helpful suggestions for improving the accounting discussion in Chapter 8. Art Simonson, Diane Vazza, and Kate Medernach of Standard & Poor's were very helpful in providing a wealth of project credit and financing data. Matthew Rutter and Stephen Chung of Thomson Financial provided access to PFI's superb project data base. Special thanks to Matthew Wicker, my colleague at Finnerty Economic Consulting, LLC, who provided critically important research assistance throughout the revision process.

I would like to thank Jennie R. Tricomi and Roman Asudulayez for research assistance. Jennie wrote a paper entitled, “Project Finance and International Regulations: Assuring the Environmentally Friendly Development of Foreign Infrastructure” for my Spring 2011 Global Capital Markets class at Fordham Law School, which I drew on in writing Chapter 6 for this edition. Roman wrote a paper entitled, “Insuring Political Risk: On the Occasions, Uses, and Future of Political Risk Insurance, as Provided by Both the Public and Private Institutions” for my Spring 2012 Global Capital Markets class at Fordham Law School, which I drew on in revising Chapter 13 for this edition.

Finally, thanks to my wife, Louise, and my son, Will, for their patience and understanding while I took time away from our family to write. I hope that they are pleased with the book.

J. D. F.