This work presents a comparative analysis of loan spreads and pricing between sustainable and conventional project finance loans. We analyse a cross-section of 1,195 project finance loan tranches closed from 2017 to 2024 and show that while sustainable and conventional loans are priced differently by common pricing factors, their spreads show no significant difference. Furthermore, banks consider contractual characteristics, macroeconomic factors, syndicate structure, and borrower characteristics when determining prices for sustainable loan tranches.
| Date of Award | 8 Jul 2025 |
|---|
| Original language | English |
|---|
| Awarding Institution | - Universidade Católica Portuguesa
|
|---|
| Supervisor | João Pinto (Supervisor) |
|---|
- ESG
- Project finance loans
- Credit spreads
- Loan pricing
- Pricing factors
The pricing of sustainable project finance loans
Almeida, I. M. (Student). 8 Jul 2025
Student thesis: Master's Thesis
