L&G Commits $1 Billion in Debt-Swap Partnership With Enosis

Legal & General Group Plc is committing $1 billion over five years as part of a strategic partnership with Enosis Capital LLC targeting debt swaps.

The agreement is intended to “support transactions with a development focus in emerging markets,” L&G said in an emailed statement on Monday. The partnership will give L&G “earlier, more direct engagement” with sovereigns and implementing partners, among other benefits, the asset manager said.