By Mathew Carr
Aug. 30, 2023.
Earlier this month, Gabon saw a debt for nature swap over the line, so this news about the overthrown government is potentially really interesting for watchers of action on climate and nature protection measures.
JOHANNESBURG, Aug 8 (Reuters) – Gabon moved forward with Africa’s first debt-for-nature swap on Tuesday in a deal that saw the country buy back a nominal $500 million of its international debt and price an equal size eco-friendly blue amortizing bond that will mature in 2038.
Buying bonds back at a discount, Gabon accepted a total of $436 million, close to its maximum of $450 million, with investors offering up more than $1.1 billion, according to a notice published on the London Stock Exchange.