Norton Rose Fulbright advises Imperative on landmark US$91 million financing for South African ecosystem restoration project

Global law firm Norton Rose Fulbright has advised Imperative Global Solutions (Imperative) on a landmark US$91 million blended financing for Phase 2 of its large scale ecosystem restoration project across South Africa's Eastern and Western Cape regions. The transaction combines a World Bank outcome bond with a syndicated private capital streaming facility from leading global natural capital and climate investors.

The financing comprises a US$25 million private capital investment directed from a principal protected outcome bond issued by the International Bank for Reconstruction and Development (IBRD), part of the World Bank Group and structured by BNP Paribas, combined with a US$66 million syndicated streaming capital facility provided by Mirova, GenZero, Rubicon Carbon and Bregal Sphere.

Phase 2 of the project will fund the restoration of approximately 50,000 hectares through revegetation activities. The transaction is underpinned by a long term strategic offtake agreement with Amazon.

Norton Rose Fulbright partner Alen Pazin led the deal and was supported by senior associate Kellie Hayman and graduate Will Dundas.