Matheson has advised Credit Suisse on a blue bond transaction involving a debt conversion for Barbados. The loan was co-guaranteed by Inter-American Development Bank (IDB) and The Nature Conservancy (TNC), resulting in reduced financing costs for Barbados.
Barbados will direct the cost savings from the debt conversion to the Barbados Environmental Sustainability Fund (BESF). The BESF, which is expected to receive approximately $50m over the next 15 years, will fund marine conservation and other environmental protection and sustainable development projects in Barbados. Alongside the funding, Barbados will commit to protecting approximately 30% or more of its ocean territory.
