Deborah Zandstra
Partner; Head of Sovereign Debt Advisory and Restructuring
London, United Kingdom
Summary
Recognised leader in sovereign debt restructuring and sovereign financings — Deborah Zandstra leads Clifford Chance's sovereign debt advisory and restructuring practice, advising both sovereign debtors and creditors on restructurings, liability management, bond and loan financings, and structured products involving sovereigns and state entities. cliffordchance+1
Active practitioner in innovative blended finance and debt conversion transactions — she has led market-leading work on debt-for-nature swaps and other debt conversion structures, including advising on the landmark El Salvador debt-for-nature transaction in 2024. cliffordchance+1
Contributor to policy, market standards and expert groups — regularly participates in and advises industry and public-sector working groups (ICMA, IIF, UN Expert Group on Sovereign Debt Restructuring, US Treasury staff expert group, Bank of England working groups) to improve sovereign debt architecture and documentation. cliffordchance+2
Educator, speaker and published author on sovereign debt topics — frequently speaks at industry events and podcasts, leads internal and client seminars on sovereign debt and financial markets topics, and publishes academic and practitioner-oriented pieces in journals and firm briefings. soundcloud+2
Work
Education
Projects
Writing
Debt-for-nature Swaps: A New Generation
November 1, 2023Briefing examining debt-for-nature swaps, debt-for-climate swaps and other debt conversion mechanisms as part of sovereign and blended finance solutions.
A possible work plan for further reform of sovereign debt restructuring
January 1, 2018Academic article setting out a work plan and considerations for reforming sovereign debt restructuring processes and international frameworks.
New Aggregated Collective Action Clauses and evolution in the ...
January 1, 2017Article on aggregated collective action clauses (CACs) and their evolution in sovereign bond documentation and restructuring practice.
Sustainability Financing Debt Guide (contribution)
Contributed to the ALSF Sustainability Financing Debt Guide addressing sustainability-linked debt and debt conversion techniques.