“JPMorgan’s development finance arm structures first deal” – Reuters – July 28, 2020

On July 28, 2020 Reuters reported that “JPMorgan’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.

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.

Adding developmental finance and green funding to the deal, meaning capital is raised to support economic development and environmental projects, helped entice a broader range of investors, said Stefan Weiler, head of Central and Eastern Europe, Middle East and Africa debt capital markets at JPMorgan.”

‘If we hadn’t, this deal would have been trickier and may not have happened at all,’ he told Reuters.

JPMorgan in January launched its development institution through which it aims to fund more than $100 billion annually in development activities from investment banking deals, with extra contributions from its markets businesses.”

You may read the article on the Reuters internet site.