Financial Advisory Firm

Bolivia: Debt-for-Nature Swap

MNS was engaged by the National Wildlife Federation to devise a capital markets transaction which would involve retirement of sovereign debt in exchange for an environmentally beneficial policy initiative. What developed was the prototype transaction (in Bolivia) for the broadly utilized model known as ‘debt-for-nature swaps’ which converted sovereign debt into funding for environmental projects and national parks. Debt-for-nature swaps quickly evolved into a widely-used template in the emerging markets.