Mitsubishi UFJ Financial Group (MUFG) is in talks with a number of governments as it seeks to build a pipeline of swaps to help developing nations refinance debt and free up funds for social and infrastructure projects.
Japan¡¯s biggest bank is looking to expand its presence in the market for debt swaps after helping to wrap up a €400 million ($465 million; ?69.2 billion) deal for Cote d¡¯Ivoire in December. Following that transaction, MUFG is now ¡°engaging with a number of borrowers on similar structures,¡± Ankit Khandelwal, the bank¡¯s head of Africa sovereigns, development finance institutions and blended finance, said in an interview.
The expectation is that the December deal will serve as a ¡°catalyst for a lot more of these transactions going forward, not just in Africa,¡± Khandelwal said in an interview.
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