Building a climate resilient debt portfolio

Author: Sui-Jim Ho, Cleary Gottlieb Steen & Hamilton | Published: 10 Mar 2020

Lawyers who worked on Barbados’ recent debt restructuring explain how it came together, including an analysis of the innovative natural disaster clause

The Barbados debt restructuring, which completed in December 2019, involved two main stages. The first was the restructuring of Barbados dollar-denominated debt totalling approximately the equivalent of US$5.95 billion. This was achieved using the local law advantage to ensure an efficient process and maximum participation....