Loan & DebtJun 8, 2026, 08:13 PM
Cipher Digital Subsidiary Prices $810M Senior Secured Notes Due 2031
AI Summary
Cipher Digital Inc. announced that its wholly-owned subsidiary, Stingray Compute LLC, priced an $810.0 million offering of 6.000% senior secured notes due 2031. The notes were priced at 99.750% of their principal amount and are expected to close on June 15, 2026. The net proceeds will be used to finance the remaining cost of the Stingray Facility data center, reimburse Cipher Digital for approximately $61.5 million in prior equity contributions, and fund debt service reserves.
Key Highlights
- Cipher Digital's subsidiary, Stingray Compute LLC, priced an $810.0 million offering of 6.000% senior secured notes due 2031.
- The notes were priced at 99.750% of their principal amount.
- The offering is expected to close on June 15, 2026.
- Net proceeds will finance the remaining cost of the Stingray Facility data center.
- Approximately $61.5 million of prior equity contributions to Cipher Stingray LLC will be reimbursed.
- Proceeds will also fund debt service reserves.
- The notes will be fully and unconditionally guaranteed by Cipher Stingray and secured by first-priority liens on substantially all assets of the Issuer and Guarantor.
Price Impact
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