LONDON, April 12, 2024: International Financial Law Review (IFLR) has recognized Gabon’s $500 million debt-for-nature “blue bond” offering as its Capital Markets Deal of the Year at this year’s IFLR Africa Awards. The awards recognize legal innovation through dealmaking and celebrate work that improves the cross-border investment environment. Winners were announced during an awards ceremony in Johannesburg, South Africa on April 11.
Morgan Lewis’s role in the deal involved representing Bank of America Securities as sole initial purchaser and structuring agent on a $500 million debt-for-nature “blue bond” offering for the Republic of Gabon, structured as an issuance of 15-year notes pursuant to Rule 144A and Regulation S by a special-purpose Delaware trust, with the proceeds ultimately being lent to Gabon. This was the first-ever debt-for-nature conversion in Africa.
Partner Sandra Vrejan, along with partners Carter Brod, Charles Sweet, Peter Sharp, Daniel Nelson, Julie Stapel, and Carl Valenstein and associates Gregory Mottla, Eliza Biswas, Petrina Mironis, Saba Habte, Kimberly Liu, and Andrea Laprade, represented Bank of America.
For more information, read IFLR’s announcement.