Loan & DebtJun 10, 2026, 06:01 AM
Hut 8 Subsidiary Completes $4.25B Senior Secured Notes Offering
AI Summary
Hut 8 Corp.'s indirect wholly-owned subsidiary, Beacon Point DC LLC, successfully completed a private offering of $4.25 billion in 6.129% Senior Secured Notes due 2042. The proceeds from this offering will primarily be used to finance the development and construction of a 352-megawatt data center project in Nueces County, Texas, which will be leased to a high-investment-grade tenant. The Notes will mature on November 30, 2042, with semi-annual interest payments beginning November 30, 2026, and principal amortization starting May 30, 2030.
Key Highlights
- Hut 8's indirect subsidiary, Beacon Point DC LLC, completed a $4.25 billion private offering of Senior Secured Notes.
- The Notes bear interest at 6.129% per annum, payable semi-annually starting November 30, 2026.
- The Notes will mature on November 30, 2042.
- Proceeds will finance the development of a 352 MW data center in Nueces County, Texas.
- Funds will also cover debt service reserves and offering fees and expenses.
- Principal amortization begins semi-annually on May 30, 2030.
- The Indenture includes covenants limiting additional indebtedness, restricted payments, and certain transactions.
Price Impact
More from HUT