JPMorgan, Goldman Cap Volta Loan Underwriting at $1.3B — SkimNews
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- JPMorgan and Goldman Sachs are leading a $5B loan sale with a yield of approximately 11% for AI startup Volta
- The two banks took the rare step of underwriting only $1.3B of the total — not the full $5B — to limit their own exposure to the deal
Why it matters: Even the two banks willing to lead the Volta sale chose to put only $1.3B of their own capital behind a $5B deal yielding ~11%, showing that demand for high-yield AI startup debt thin enough that lead underwriters feel compelled to cap their own risk rather than retain the full syndication exposure.
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