DLA Piper advises Builders Vision on innovative co-guarantee for The Bahamas Debt Conversion Project for Marine Conservation

DLA Piper advised Builders Vision, an impact platform dedicated to building a more humane and healthy planet through philanthropy, investment and advocacy, in its US$70 million credit co-guarantee to support The Bahamas Debt Conversion Project for Marine Conservation, the largest marine conservation funding program in the country’s history.

The co-guarantee is a key component of the refinancing of US$300 million of The Bahamas’ external commercial debt, a partnership that includes the Government of The Bahamas, The Nature Conservancy (TNC), the Inter-American Development Bank, AXA XL, Standard Chartered, Rothschild & Co., The Bahamas National Trust and The Bahamas Protected Areas Fund. The goal of this partnership is to support the country's efforts to improve ocean conservation and the management of its Marine Protected Areas.

“It was a pleasure to advise Builders Vision on this groundbreaking deal, which marks the first time a private investor has provided a co-guarantee under TNC’s Nature Bonds Program,” said Joe Stefano, Head of DLA Piper’s US Projects & Energy Practice who led the deal team.

Alongside Stefano (New York), the DLA Piper deal team included partner Shehzad Huda (San Diego), of counsel Stefanie Karidis (New York) and associate Emily Jones (Washington, DC).

In 2023, DLA Piper was ranked in the “Renewable/Alternative Power” category by The Legal 500 US and was ranked by The Legal 500 Green Guide as a “Featured Law Firm.” In addition, for third consecutive year, DLA Piper’s renewable energy team was named the number one global renewable energy legal advisor by inspiratia.

DLA Piper's Energy lawyers represent companies, developers, financial institutions and other investors and other participants in the renewable, power, oil and gas, nuclear, energy trading, climate change and water markets.