Standard Chartered Plc has recently completed a debt swap deal worth $300 million to refinance the debt of the Bahamas. This transaction, the bank's first in the debt swap market, aims to release funds that will be redirected towards ocean conservation efforts.

The deal was arranged in collaboration with the Nature Conservancy and is backed by a partial guarantee from the Inter-American Development Bank. This financial maneuver not only relieves the Bahamas' debt burden but also demonstrates a commitment to environmental sustainability.