Nuveen Holds 80% of Rare Blue Bond Linked to Debt-Swap Deal
- Barbados debt relief is in exchange for marine protection
- Blue bonds have drawn scrutiny amid use-of-proceeds questions
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Nuveen LLC has bought 80% of a rare blue bond designed to help finance debt relief for Barbados and protect its marine environment.
The investment firm, which is a unit of TIAA, has taken on an anchor role in the transaction, investing almost $60 million in the bond, it said on Tuesday.