ESG & Investing
UBS Moves Into Debt Swap Market Pioneered by Credit Suisse
- Barbados seeks funds for climate-resilient infrastructure
- Deal underlines UBS’s expansion into nature-finance markets
The UBS Group AG headquarters in Zurich, Switzerland.
Photographer: Pascal Mora/BloombergThis article is for subscribers only.
UBS Group AG is working on its first-ever ESG debt swap, building on expertise it inherited from Credit Suisse after taking over the bank last year.
UBS will form part of a consortium of firms working to raise funds for a $300 million refinancing arrangement for Barbados that will help fund climate-resilient infrastructure, according to a person familiar with the matter who asked not to be identified discussing private talks. The transaction, which also involves a group of local banks, is expected to close in September, the person said.