Nebius Secures $3.5B Citi Facility to Expand AI Cloud Capacity
aiinsider ·
Nebius Group, an Amsterdam-based AI cloud provider listed on Nasdaq, has secured a $3.5 billion senior secured facility from Citibank to support its global infrastructure expansion. The financing will primarily fund the development of data centers and the procurement of GPUs, alongside general corporate purposes. This 364-day facility carries an initial interest rate of Term SOFR plus 2.75%, which can rise to a maximum of 3.50%. Citi served as the mandated lead arranger, agent, and security agent for the deal. Chief Operating Officer Ophir Nave stated that the company is executing its funding strategy as planned, emphasizing a disciplined approach to balance sheet management. The transaction is part of a diversified capital strategy that also utilizes customer prepayments and operating cash flows to optimize long-term costs. Additionally, Nebius retains access to other capital sources, including asset-backed financing linked to over $40 billion in contracts with investment-grade customers.
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