JPMorgan Issues $1 Billion in Social Bonds
17 February 2021 - 4:08AM
Dow Jones News
By Kimberly Chin
JPMorgan Chase & Co. has issued $1 billion in social bonds,
an inaugural move that follows its inaugural green bond issuance
last year.
The company expects the proceeds to go toward affordable housing
projects.
"With a focus on boosting affordable housing, our inaugural
social bond issuance builds on our leadership in the sustainable
bond market and our strategy to use our business expertise to
create opportunity for underserved communities," said JPMorgan's
Head of Sustainability, Marisa Buchanan, in prepared remarks.
The co-managers for the bond offering are solely minority and
women-owned business enterprises and service-disabled veteran-owned
businesses, the company said.
The aggregate principal amount of fixed-to-floating rate notes
are due 2025.
In September, JPMorgan issued $1 billion in green bonds. It
plans to allocate the proceeds toward eligible green projects,
which could include financing or refinancing green buildings and
renewable energy projects.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
February 16, 2021 11:53 ET (16:53 GMT)
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