Loan & DebtAug 10, 2026, 04:19 PM
CoreWeave Secures $2.6B Loan Facility for AI Infrastructure Expansion
AI Summary
CoreWeave, Inc. announced the closing of a $2.6 billion delayed draw term loan facility (DDTL 5.5 Facility) to support the continued expansion of its AI cloud platform and customer deployments. The facility, with a maturity date of September 1, 2031, will primarily finance capital expenditures for GPU servers and related infrastructure. This innovative structure allows CoreWeave to efficiently finance shorter-dated customer contracts, unlocking a broader base of enterprise customers and higher-margin deals. The facility was oversubscribed, received ratings of Ba2 from Moody's and BB+ from Fitch, and contributes to over $30 billion in debt and equity capital secured by CoreWeave year-to-date.
Key Highlights
- CoreWeave secured a $2.6 billion delayed draw term loan facility (DDTL 5.5 Facility).
- Proceeds will finance capital expenditures for GPU servers and AI infrastructure.
- The facility has a maturity date of September 1, 2031 (approx. five years).
- Interest rate for SOFR loans is Term SOFR (0.00% floor) plus an applicable margin of 5.50%.
- Undrawn fees are 0.50% per annum on the average daily undrawn portion.
- The facility received ratings of Ba2 from Moody's and BB+ from Fitch.
- CoreWeave has secured over $30 billion in debt and equity capital year-to-date.
- A debt service coverage ratio of at least 1.35x is required after commitment termination.
Price Impact
More from CRWV