Sources: JPMorgan and Goldman, leading a $5B loan sale with a yield of ~11% for AI startup Volta, took a rare move to limit exposure by underwriting just $1.3B (Claire Ruckin/Bloomberg)
The banks found buyers for Volta debt, but kept most of the risk off their own books.
JPMorgan and Goldman led a $5B loan sale for AI startup Volta at about an 11% yield. The unusual part was the underwriting: they committed to only $1.3B, limiting their exposure if the deal did not place cleanly. The note frames that as a rare move for banks running a sale of this size. Techmeme's note
JPMorgan and Goldman led a $5B loan sale for AI startup Volta at about an 11% yield. The unusual part was the underwriting: they committed to only $1.3B, limiting their exposure if the deal did not place cleanly. The note frames that as a rare move for banks running a sale of this size. Techmeme's note
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