Glossary · Debt instruments
Construction / development finance
Staged-drawdown debt to build a project, which converts to permanent debt on completion.
Why it matters
It funds the riskiest phase — drawn and priced very differently from stabilised loans.
Related
- Bridge finance
Short-term, fast, higher-cost debt to a defined exit — typically a sale or refinance.
- LTC (Loan-to-Cost)
Loan amount divided by total project cost. Used in development finance where there is no stabilised value yet.
- Project finance
Non-recourse debt secured on a project's own cash flows. Common in infrastructure and energy.
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