Loan & DebtJun 15, 2026, 05:27 PM
Cipher Digital Subsidiary Issues $810M Senior Secured Notes
AI Summary
Stingray Compute LLC, an indirect subsidiary of Cipher Digital Inc., completed a private offering of $810.0 million in 6.000% Senior Secured Notes due 2031. The notes were issued at 99.750% of their principal amount. Proceeds will fund the remaining cost of the Stingray Facility, reimburse Cipher for approximately $61.5 million in prior equity contributions, and fund debt service reserves. Cipher Digital Inc. will also provide a completion guarantee for the Stingray Facility.
Key Highlights
- Stingray Compute LLC, a Cipher Digital subsidiary, issued $810.0 million in 6.000% Senior Secured Notes.
- The notes bear an interest rate of 6.000% per year, payable semi-annually.
- The notes mature on June 15, 2031, and were issued at 99.750% of their principal amount.
- Proceeds will finance the Stingray Facility and reimburse Cipher for approximately $61.5 million in prior equity contributions.
- The Issuer may redeem notes on or after June 15, 2028, or earlier with a make-whole premium.
- Cipher Digital Inc. provides a customary completion guarantee for the Stingray Facility.
Price Impact
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