Bank of America Expands Sustainable Finance with $500M Swap, $200M Fund Support
Bank of America arranged a $500 million debt-for-nature swap in Gabon in 2023 and is positioned to support a new $200 million conservation fund, highlighting growth in its sustainable finance activities. Its equity research unit has also initiated Buy ratings on Oracle, Acadia Pharmaceuticals and Bicara Therapeutics.
1. Gabon $200M Conservation Fund Support
Bank of America is set to support a $200 million conservation fund in Gabon, following completion of technical structuring and a signed letter of intent, underscoring its expanding role in nature-linked financing across emerging markets.
2. 2023 $500M Gabon Debt-for-Nature Swap
In 2023, Bank of America structured a pioneering $500 million debt-for-nature swap in Gabon, refinancing sovereign debt while directing capital toward marine conservation, marking the first such transaction in continental Africa.
3. Equity Research Unit Ratings
Bank of America’s equity research team has recently initiated Buy ratings on Oracle with a $200 price target, upgraded Acadia Pharmaceuticals to Buy with a $29 objective, and begun coverage of Bicara Therapeutics with a $35 price goal.