Proceeds will be used to fund eligible sustainable projects, which may include green buildings and renewable energyNew York —
The New York-based lender is selling $1bn in green bonds maturing in four years, according to a person with knowledge of the matter. The offering may yield 0.65 percentage points above Treasuries, said the person, who asked not to be identified as the details are private. JPMorgan is the sole manager of the bond sale, the person said.
JPMorgan joins other top Wall Street banks that have sold debt to finance green or social projects. In May, Citigroup raised $1.5bn with a dollar-denominated green bond for the first time while Bank of America priced a $1bn issue to fund Covid-19 relief efforts, the first sale from a US financial institution that explicitly links all proceeds to tackling the virus.
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