Baker McKenzie has been recognized for its role advising on the ESG Finance Deal of the Year – Ecuador completes record $1.6 billion debt-for-nature swap, which was announced at Latin Lawyer's 18th annual Deal of the Year Awards.

Led by London-based Banking & Finance Partner Matthew Cox and Washington DC-based Corporate & Securities Partner Tom Egan, Baker McKenzie acted for Oceans Finance Company, in its role as project manager to structure, implement and oversee the Government of Ecuador's record $1.6 billion debt-for-nature swap. The transaction will provide over $300 million for independently managed marine conservation around the Galápagos Islands over the next 18 years.

At the time of the deal announcement, Matthew commented: "It is fantastic to see this debt-for-nature swap, which will unlock much needed funds for marine conservation around the Galápagos Islands, come to fruition. It has been a pleasure to work with Oceans Finance Company from the initial structuring stages of the transaction to setting up the new Galápagos Life Fund and to assist and advise it going forwards."

Learn more about the 2024 Latin Lawyer Deal of the Year awards here and read Latin Lawyer's coverage of the deal here (subscription required).

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