Nebius enters $3.5 billion senior secured Citi facility
Nebius Group N.V. entered into a $3.5 billion senior secured financing facility provided by Citi. The 364-day facility initially bears interest at Term SOFR plus 2.75% per annum, with the stated pricing increasing up to a maximum of 3.50% per annum and remaining subject to other adjustments. Proceeds are designated for data center development, GPU procurement and general corporate purposes, and Citi is the mandated lead arranger, agent and security agent.
Key takeaways
The transaction is a $3.5 billion senior secured financing facility provided by Citi.
The facility has a 364-day maturity.
Initial interest is Term SOFR plus 2.75% per annum, increasing up to a maximum of 3.50% per annum and remaining subject to other adjustments.
Proceeds may be used for data center development, GPU procurement and general corporate purposes.
Citi is the mandated lead arranger, agent and security agent.
Nebius said the facility supports its capacity build-out and adds flexibility over the timing and structure of further external financing.
Nebius said available funding sources include asset-backed financing based on investment-grade customer commitments of more than $40 billion of long-term contracts.
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