Bank of America arranged two sovereign debt-for-nature conversions, Gabon in 2023 and the Ecuador Amazon Biocorridor in 2024, more than any other bank after Credit Suisse [IC].
Right of reply
This page describes Bank of America only through its published statements and the public records of the deals listed. Bank of America has not yet been invited to comment. Responses and corrections will be recorded here with their date. On register pages, [MS] marks a claim that rests only on the institution’s own statement or on statements by parties to the same deal.
In the register
The register follows instruments whose terms depend on a verified ecological outcome, the broad family of the performance-based bond. The register index explains its tiers, roles and claim tags.
| Deal | Year | Family | Role | Amount | Claim |
|---|---|---|---|---|---|
| Gabon Blue Bond | 2023 | Debt-for-nature conversion | Arranger | US$500m | [IC] |
| Ecuador Amazon Biocorridor conversion | 2024 | Debt-for-nature conversion | Sole structuring agent, dealer manager, arranger, initial purchaser | US$1bn | [IC] |
Both deals carried US DFC political-risk insurance; the Ecuador deal also carried an IDB liquidity guarantee [IC]. The Ecuador conversion refinanced about US$1.53 billion of bonds and is expected to provide about US$400 million in new conservation funding over 17 years [IC].
Related
- Nature Performance Bond Investor Register
- US International Development Finance Corporation
- Inter-American Development Bank
- Legal & General
- AXA
- The Nature Conservancy
References
- IFR, Gabon closes debt-for-nature swap (2023)
- DFC, political risk insurance for Gabon blue bond (2023)
- Bank of America, Ecuador selects Bank of America for debt conversion (December 2024)
- The Nature Conservancy, Ecuador Amazon debt conversion
Provenance
Drafted on 15 October 2026 from the research brief Nature performance bond investors.md, compiled the same day from five research strands: outcome-linked and sustainability-linked bonds, environmental impact bonds, debt-for-nature conversions, insurers and reinsurers, and the largest asset managers with their regulatory context. Claim tags follow the brief, which never upgraded a claim without a source and lowered to [MS] any claim a research note had graded [IC] on the strength of a company’s own release. The headquarters country in based_in comes from general knowledge unless a deal record states it, and is to be confirmed. The brief’s search had limits: fund holdings filings, municipal bond disclosures and the Oxford INDIGO and Brookings impact bond databases were not searched, so a deal missing from this page may exist.