12:57 PM EDT, 09/19/2025 (MT Newswires) -- (Corrects JPMorgan name in the first paragraph.)

JPMorgan's ( JPM ) one-year, $1 billion total return debt swap deal originally agreed to by Angola, may need to be extended in November, Reuters reported Friday, citing a senior debt official from Angola's finance ministry.

The African country may decide instead to possibly raise the amount on global capital markets, Reuters reported.

The one-year total return debt swap derivative contract, agreed to originally by JPMorgan ( JPM ) and Angola last December, is backed by $1.9 billion in government dollar bonds expiring at this year's end, Reuters reported. The full terms of the total return debt swap have never been published, Reuters added.

Angola could raise the money, repay it partially, or roll over the current arrangement in an extension, depending on market conditions, Reuters quoted Dorivaldo Teixeira, general director of the finance ministry's public debt management unit, as saying. He said if he could extend the JPMorgan ( JPM ) facility, the cost of which was lower than Angola's eurobonds, he probably would, the report added.

JPMorgan ( JPM ) declined to comment in response to a request from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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