CoreWeave, Inc. announced that its indirect subsidiary entered into a new credit agreement for a $2.6 billion delayed draw term loan facility. The proceeds are intended to finance significant capital expenditures, primarily for the acquisition of GPU servers and related infrastructure needed to fulfill customer contracts.
Key Details
- Financing Agreement: On August 7, 2026, a subsidiary entered into a credit agreement providing for a $2.6 billion delayed draw term loan facility (the “DDTL 5.5 Facility”).
- Terms & Timeline: The facility matures on September 1, 2031, with funds available to be drawn until December 2026. Borrowings are subject to an interest rate of Term SOFR plus a 5.50% margin per annum for SOFR loans.
- Use of Proceeds: Funds are designated for capital expenditures to acquire GPU servers and associated infrastructure, enabling the company to perform its obligations under certain customer contracts.
- Security & Covenants: The obligations are guaranteed by the parent company, CoreWeave, Inc., and secured by substantially all assets of the borrower. The agreement includes a debt service coverage ratio covenant of at least 1.35x, effective after December 31, 2026.