Finans
Ortak Finansman / Es-Finansman (Joint Financing / Co-financing)
İngilizce: joint financing
Türkçe Tanım
Birden fazla kredi verenin ya da finansman kurulusunun, tek bir projeyi ortak kosullar altinda birlikte finanse etmesidir; risk, buyuk sermaye taahhudu ve ulke maruziyeti kurumlar arasinda paylasilir. Kalkinma finansmani kuruluslarinin (DFI) katildigi yapilarda, ortak finansman cogu kez ortak dokumantasyon, capraz temerrut hukumleri ve paylasimli teminat paketi uzerine kurulur. Bu yapinin gozden kacan avantajlarindan biri, bir DFI'nin sagladigi tercihli alacakli statusu ve siyasi risk semsiyesinin, ayni sendikasyondaki ticari kredi verenlere de dolayli koruma yaymasidir; bu semsiye, ozellikle yuksek ulke riski tasiyan yargi bolgelerinde ticari finansmani, kendi basina mumkun olmayacak vade ve fiyat seviyelerinde erisilebilir kilar.
English Definition
The financing of a single project together, under common terms, by several lenders or financing institutions, so that risk, a large capital commitment, and country exposure are shared among them. In structures involving development finance institutions, co-financing is often built on common documentation, cross-default provisions, and a shared security package. One overlooked advantage of this structure is that the preferred-creditor status and political-risk umbrella a DFI provides extend indirect protection to the commercial lenders in the same syndication; that umbrella can make commercial financing available at tenors and prices otherwise unattainable, particularly in jurisdictions carrying high country risk.