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World’s Biggest Blue-Bond Swap Emerges to Protect the Galapagos

  • Credit Suisse is selling blue debt, buying Ecuador’s notes
  • Deal stands to funnell nation’s debt savings into conservation
Updated on

The world’s biggest ocean friendly debt swap is coming together in Ecuador, with Credit Suisse Group AG offering a yield of less than 6% on a new bond, according to people familiar with the matter. 

Proceeds from the bond sale will fund the purchase of Ecuador’s heavily discounted sovereign debt, providing savings the government will use to protect the Galapagos Islands, said the people, who asked not to be identified because they’re not authorized to speak about it.