Baker McKenzie is proud to announce that it won Finance Team of the Year at the 2024 Legal Business Awards.
The Firm was recognized for its work acting as transaction counsel to Oceans Finance Company and Rob Weary, in their role as project manager to structure, implement and oversee the Government of Ecuador's record USD 1.6 billion debt-for-nature swap. The transaction benefitted from material credit support provided by the Development Finance Corporation and Inter-American Development Bank and sponsorship by the Pew Bertarelli Ocean Legacy Project. The ground breaking transaction will provide over USD 300 million for independently managed marine conservation around the Galápagos Islands over the next 18 years.
The Baker McKenzie team in London was led by Partners Matt Cox and James Tanner. The team also included lawyers from the Firm’s Washington D.C, New York and Houston offices.
Commenting on the win, Matt Cox said: “This debt-for-nature swap unlocks much needed funds for marine conservation around the Galápagos Islands and I am proud to have our work on this innovative deal recognized with this award. We’ve worked with Rob and Oceans Finance Company since the initial structuring stages of the transaction and it is a pleasure to be continuing to support and advise them going forwards."
James Tanner added, "This is the largest debt for impact swap ever done and is further evidence of the important role this product can play as sovereign nations look for new ways to generate fiscal space and unlock much needed resources for development."
You can read more about this deal here.
The Firm was recognized for its work acting as transaction counsel to Oceans Finance Company and Rob Weary, in their role as project manager to structure, implement and oversee the Government of Ecuador's record USD 1.6 billion debt-for-nature swap. The transaction benefitted from material credit support provided by the Development Finance Corporation and Inter-American Development Bank and sponsorship by the Pew Bertarelli Ocean Legacy Project. The ground breaking transaction will provide over USD 300 million for independently managed marine conservation around the Galápagos Islands over the next 18 years.
The Baker McKenzie team in London was led by Partners Matt Cox and James Tanner. The team also included lawyers from the Firm’s Washington D.C, New York and Houston offices.
Commenting on the win, Matt Cox said: “This debt-for-nature swap unlocks much needed funds for marine conservation around the Galápagos Islands and I am proud to have our work on this innovative deal recognized with this award. We’ve worked with Rob and Oceans Finance Company since the initial structuring stages of the transaction and it is a pleasure to be continuing to support and advise them going forwards."
James Tanner added, "This is the largest debt for impact swap ever done and is further evidence of the important role this product can play as sovereign nations look for new ways to generate fiscal space and unlock much needed resources for development."
You can read more about this deal here.
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