The US Securities and Exchange Commission has approved a $500 million loan from a Chinese company for Atom Finance, a company that makes funds that investors use to fund their investment portfolios.
The transaction will create more than 1,200 jobs at the firm.
The loan is the latest in a series of transactions between Atom Finance and U.S. banks, including $150 million for the credit institution Citigroup in April and another $200 million for Barclays Bank in March.
It is the first loan of this nature to be approved by the US Securities & Exchange Commission.
Atom Finance is based in China and is a subsidiary of the Chinese-owned China National Offshore Oil Corporation (CNOOC).
China and Atom Finance are not officially part of the China Securities Regulatory Commission (CSRC), but the company’s name and logo were featured in a promotional video from CNOOC.
The company’s main focus is on the Chinese market.
In June, it acquired the assets of the U.K.-based U.N. Environment Agency, the European Space Agency and other global environmental organizations, among others.