ESG & Investing
StanChart Seals Deal for $300 Million Debt Swap for Bahamas
- Lukas Walton’s Builders Vision will help backstop the swap
- The deal is intended to help finance ocean conservation
A beach in Nassau, Bahamas.
Photographer: Scott McIntyre/BloombergThis article is for subscribers only.
Standard Chartered Plc has wrapped up a $300 million deal that will allow the Bahamas to refinance debt and allocate savings to ocean conservation.
The transaction, which marks StanChart’s first in the market for such swaps, was arranged together with the Nature Conservancy and backed by a partial guarantee from the Inter-American Development Bank.