StanChart Joins Banks Eyeing Swaps Credit Suisse Once Dominated

Standard Chartered Plc is joining a growing list of banks keen to explore opportunities in a debt-swap market that was once dominated by Credit Suisse.

StanChart has held regular talks with governments that have indicated they’re interested in tapping debt-for-nature swaps, according to Robbie Sommerville, global head of sustainability communications at the UK bank. The deals typically allow a country to refinance its debt on better terms in exchange for promises to protect the environment.

Before its state-engineered takeover by UBS Group AG, Credit Suisse had cemented a reputation as the top bank for arranging such refinancing structures. ...