JPMorgan's development finance arm structures first deal

📆 8/1/2020 1:30 PM
📰 Reuters

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JPMorgan's 's development finance institution has structured its first deal, a $250 million five-year green bond for a power firm in Georgia, as it targets $100 billion for development projects annually, executives say.

FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo

The deal for Georgia Global Utilities, to be settled on Thursday, is the first where that arm of the bank has been named development finance structuring agent. “If we hadn’t, this deal would have been trickier and may not have happened at all,” he told Reuters. “We’re seeing debt capital market deals and export finance deals among other types of transaction,” said Faheen Allibhoy, managing director of the bank’s development finance institution.

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