| "Our mission is to provide professional services with uncompromising integrity and efficiency" Don Williams CEO. |
| Credit Facility Uncommitted Facility - A credit facility with no restrictions placed upon the lending institution regarding the amount of funds to be lent. Under this arrangement, the lending institution is not under any obligation to provide a specific sum to the borrowing company. Furthermore, the borrowing company is not subject to conditions set by the lending institution. Committed Facility - A credit facility whereby terms and conditions are clearly defined by the lending institution and imposed upon the borrowing company. In committed facilities, the borrowing companies must meet specific requirements set forth by the lending institution in order to receive the stated funds. Private Placement - Raising of capital via private rather than public placement. The result is the sale of securities to a relatively small number of investors. Private placements do not have to be registered with organizations such as the SEC because no public offering is involved. Private Placement Memorandum - A legal document stating the objectives, risks and terms of investment involved with a private placement. This includes items such as the financial statements, management biographies, detailed description of the business, etc. An offering memorandum serves to provide buyers with information on the offering and to protect the sellers from the liability associated with selling unregistered securities. Also known as a PPM. You can essentially think of the offering memorandum as a fancy business plan. In practice these are a formality to meet the requirements of securities regulators since most sophisticated investors perform their own extensive due diligence. Offering memorandums are for private placements, while prospectuses are for publicly-traded issues. Project Finance - Defined by the International Project Finance Association (IPFA) as the following: The financing of long-term infrastructure, industrial projects and public services based upon a non-recourse or limited recourse financial structure where project debt and equity used to finance the project are paid back from the cashflow generated by the project. In other words, project financing is a loan structure that relies primarily on the project's cash flow for repayment, with the project's assets, rights, and interests held as secondary security or collateral. Project finance is especially attractive to the private sector because they can fund major projects off balance sheet. Project Management - The management of a project or endeavor whereby a project manager or management firm is responsible for the day to day operations and the ultimate success of the project. Ex: In a typical land development project, a project manager would oversee the General Contractor whom oversees the construction crew. The project manager is an added benefit to the lender/investor(s) making sure deadlines and objectives are met. Venture Capital - Venture Capital is typically provided by outside investors, for financing new, growing or struggling businesses. Venture capital investments generally are high risk investments but offer the potential for above average returns. Source: (1) Investopedia Inc. (2) International Project Finance Association (IPFA) (3) Wikipedia Copyright (C) 2007 All Rights Reserved Willibros Inc. |
Definition of Terms
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
BOOKMARK THIS SITE