According to Bloomberg, a fund under Blue Owl Capital led a $2.4 billion debt financing to support cloud service provider Iren in purchasing NVIDIA Blackwell Ultra GPUs for its Canadian data center campus. The financing includes $1.2 billion in senior secured term loans and an equal amount in senior secured notes, structured to allow Iren to procure equipment in phases over a specified period. Pacific Investment Management Company is also one of the guarantors of the financing. Documents show that the financing carries an interest rate of 9% and a term of two and a half years.
Blue Owl Leads $2.4 Billion Debt Financing for Iren to Purchase NVIDIA Blackwell Ultra GPUs
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Summary
Blue Owl Capital led a $2.4 billion debt financing for Iren to purchase NVIDIA Blackwell Ultra GPUs, citing recent interest rate developments. The transaction includes a $1.2 billion senior secured term loan and $1.2 billion in senior secured notes, with a 9% interest rate over a 2.5-year term. Pacific Investment Management Company serves as guarantor. The move follows recent inflation data revealing mixed economic signals.
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