Nebius closes first senior secured debt facility of about $775 million

Nebius raised about $775 million in its first senior secured debt facility, which matures October 31, 2030 and is priced at SOFR plus 2.50%. The loan is backed by deployed GPU infrastructure and cash flows under a contract with an investment-grade customer, which the company says cover more than 100% of the capex needed to deploy that hardware. Nebius said the deal was significantly oversubscribed and that the money will speed up its global AI cloud build-out.

• Facility size approximately $775 million, the company's first senior secured debt
• Matures October 31, 2030; priced at SOFR plus 2.50%
• Collateral: deployed GPU infrastructure and contracted cash flows from an investment-grade customer
• Cash flows cover more than 100% of the capex needed to deploy the GPUs, per the release
• MUFG led as structuring agent and sole bookrunner; ABN AMRO, Bank of America, Deutsche Bank and HSBC were mandated lead arrangers