Jane Street Issues $2.25 Billion Green Bond for AI Data Center Construction

Jane Street is issuing a $2.25 billion green bond for its data center project "Zenith Arc" in Oklahoma. The project will fund the construction of computing facilities and substations with an approximate power capacity of 149 megawatts (MW). The bonds will be senior secured bonds with a maturity of five years, and the proceeds will be used for the development and construction of the facility. Jane Street will lease the data center for 15 years, with the lease agreement structured as an "absolute triple net" arrangement that includes operating expenses, taxes, and electricity costs. Due to the increasing demand for AI data centers, Jane Street is either building or leasing data centers and collaborating with cloud service providers. The issuance of green bonds for the Zenith Arc project is related to the trend of the AI data center construction boom spreading into the green bond market. Although AI data centers are criticized for their massive power consumption, some projects are successfully securing funding by promising the use of renewable energy.

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