CoreWeave closes $2.6 billion DDTL 5.5 loan at SOFR plus 5.50%

CoreWeave closed a $2.6 billion delayed draw term loan, its DDTL 5.5 facility, issued through a special financing vehicle with JPMorgan and Mitsubishi UFJ as joint lead arrangers. The loan prices at SOFR plus 5.50% and runs about five years, while the underlying customer contracts average about three years. It adds to the GPU-backed debt the company uses to fund its buildout.

• $2.6 billion facility priced at SOFR plus 5.50%
• About five-year maturity against about three-year average contract length
• JPMorgan and Mitsubishi UFJ are joint lead arrangers and bookrunners