Bank of America to Lead $500 Million Debt Swap for Gabon
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Bank of America Corp. will arrange a $500 million debt swap for marine conservation in Gabon, as these types of deals gain in size and popularity, according to people familiar with the planned transaction.
The deal, due to be announced in July, will involve The Nature Conservancy, a US-based conservation nonprofit, said the people, who declined to be identified. Until now, Credit Suisse Group AG has dominated this market, having run similar debt conversions for Belize, Barbados and Ecuador.