Nebius Raises $775M Secured Debt Facility For GPU Cloud Buildout
Nebius said its first senior secured debt facility is backed by deployed GPU infrastructure and contracted cash flows, with the $775 million financing priced at SOFR + 2.50% and maturing on October 31, 2030.
Nebius said a $775 million secured debt facility will fund more AI cloud capacity, with deployed GPU infrastructure and contracted cash flows forming the borrowing base.
The company announced the facility, its SOFR + 2.50% pricing and its October 31, 2030 maturity date.
Nebius described the financing as covering more than 100% of the capital expenditure needed to deploy the underlying GPU infrastructure when combined with cash flows from the customer agreement.
The Amsterdam-headquartered AI cloud company described the facility as its first senior secured debt financing.
Nebius Debt Facility Uses GPU Infrastructure As Collateral
The borrowing vehicle is backed by deployed GPU infrastructure and cash flows under an agreement with an investment-grade customer.
The contract has moved into the servicing phase, allowing proceeds to support capacity for AI-native and enterprise customers on Nebius' platform.
The transaction creates an asset-level financing framework for other long-term customer deployments, according to the release.
The company also listed more than $40 billion of additional contracted revenue from investment-grade customers including Microsoft and Meta.
The latest planned Microsoft capacity tranche has been delivered, and Nebius stated that the remaining tranches are still scheduled under the contracted timetable.
The release did not identify the investment-grade customer attached to the specific debt vehicle.
Microsoft And Meta Contracts Support Future Borrowing
The financing strategy sits within the company's focus on disciplined funding and a strong balance sheet.
Ophir Nave, chief operating officer, described work across capacity, capital raising, product development and capital-efficient models for scaling.
Nave also described an approach spanning owned data centres and asset-light partnerships.
His quoted statement connected the financing to demand for the software stack and to margin expectations for the AI cloud business.
MUFG led the facility as structuring agent, sole bookrunner and underwriter.
Nebius named MUFG, ABN AMRO Bank N.V., Bank of America, Deutsche Bank and HSBC as mandated lead arrangers, with Citi, Crédit Agricole CIB, ING and Morgan Stanley listed as senior lead arrangers.
Goldman Sachs also participated in the syndicate.
Nebius Does Not Name The Customer Behind The Debt Vehicle
Nebius disclosed the debt size, pricing, maturity, collateral type and bank syndicate for the AI infrastructure financing.
The company did not name the customer behind the debt vehicle.
