Loan & DebtApr 27, 2026, 09:08 AM
HUT Subsidiary to Offer $3.248B Senior Secured Notes
AI Summary
Hut 8 DC LLC, an indirect wholly-owned subsidiary of Hut 8 Corp., announced a private offering of $3,248 million aggregate principal amount of senior secured notes due 2042. The proceeds from this offering are intended to finance a portion of the development and construction of a 245-megawatt data center at the Company's River Bend campus in Louisiana. Additionally, funds will reimburse Hut 8 Corp. for prior equity contributions, fund debt service reserves, and cover offering-related fees and expenses. Illustrative financial information for the Data Center Project was also disclosed.
Key Highlights
- Hut 8 DC LLC, a subsidiary, will offer $3,248 million in senior secured notes due 2042.
- Proceeds will finance a 245 MW turnkey data center at the River Bend campus.
- Funds will also reimburse Hut 8 Corp. for prior equity contributions to the project.
- Additional uses include funding debt service reserves and covering offering fees.
- Illustrative financial information for the Data Center Project was disclosed.
- Projected total Net Operating Income (NOI) for the project is $6,982 million.