Jane Street Lease Backs $2.25 Billion of Green Data-Center Bonds

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Or sign-in if you have an account.(Bloomberg) — Zenith Arc, an Oklahoma data center project that is leasing its capacity to Jane Street, is selling $2.25 billion of green bonds, adding to the flurry of builders tapping the market for environmentally focused debt.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountProceeds from the five-year senior secured notes due will be used to finance the development and construction of a compute facility and a substation that will support around 149 megawatts of power capacity, according to a Moody’s Ratings report. The bonds are scheduled to price today, and the agency assigned them a Ba2 grade. The data centers needed to support artificial intelligence have come under scrutiny for their heavy use of natural resources. Several projects, though, have managed to tap the green bond market by promising to meet standards around renewable energy and sustainable water management. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againEdged Compute sold $1.3 billion in green bonds earlier this year, while TeraWulf secured $3.2 billion to finance data centers. Sustainable bond issuances for such projects reached $11.2 billion in 2025, up from $7.6 billion the year before. Green bonds can offer developers access to environmentally conscious buyers and potentially lower borrowing costs. But some investors have raised questions about supporting data-center projects. Zenith is a joint venture between Fluidstack and Next Frontier, AI infrastructure companies.The Zenith facility is leased to a subsidiary of Jane Street Group under a 15-year absolute triple-net structure requiring the tenant to pay operating costs, taxes, utilities, insurance and power charges in addition to base rent, according to the offering memorandum. Jane Street Group provides a customary lease guaranty, according to Moody’s.Jane Street, which has grown to become one of the largest market-making firms in the US, has built, leased and financed data centers as a way to keep up with the demand for computing power that it uses to run its trading systems. It gets some of its computing power from a data center in Dallas, as well as partnerships with cloud service providers like CoreWeave Inc. A representative for Jane Street didn’t immediately respond to a request for comment on the deal.The explosion of demand for AI data center capacity has broadened a cloud computing market that was once dominated by a few tech giants to a number of smaller players, some of them former crypto miners, with AI chips available to rent to buyers jockeying for capacity. Some trading firms are also investing in the chip companies themselves, as a way to test the newest products from startups and established players like Nvidia Corp.New York-based Jane Street, which handles investors’ trades and also makes wagers with its own money, started in 2000. It has since built out operations for handling thousands of trades within seconds like other high-frequency shops, while also profiting from holding some positions for hours, days and even weeks.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.