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Clifford Chance advises Standard Chartered as placement agent for launch of world's first sovereign blue bond by the Republic of Seychelles

16 November 2018

Clifford Chance advises Standard Chartered as placement agent for launch of world's first sovereign blue bond by the Republic of Seychelles

International law firm Clifford Chance has advised Standard Chartered as placement agent in connection with the launch of the world's first sovereign blue bond by the Republic of Seychelles. The Seychelles blue bond is partially guaranteed by the World Bank (IBRD).

The 10-year blue bond, a pioneering financial instrument, raised US$15 million from international investors, the proceeds of which will finance ocean-based projects and enhance the protection of marine resources while further developing Seychelles' blue economy as it transitions to a more sustainable fisheries industry.

Capital markets partner Deborah Zandstra led the team, with assistance from senior associates Mehreen Malik and Azam Taiyeb. Clifford Chance has a long track record in sustainable financing having also advised on the world's first green bond in 2007.