Debt & contract horizons
See where a disclosed contract horizon ends before the debt, and where the data cannot answer the question.
CoreWeave DDTL 5.5: about five years of debt against customer contracts that average about three years.
Selected issuer disclosure · rounded horizons · schematic
What is still running?
Bars run from each disclosure date to the stated maturity; the common start is schematic. Only CoreWeave DDTL 5.5 discloses a contract horizon, as an average across customer contracts. Amortisation, prepayment and renewals are not modelled, so a running bar is not principal outstanding.
Five-year debt.
Three-year average contracts.
The common start is schematic. Individual contracts may start and end at different times. The two-year difference is arithmetic between rounded horizons, not an estimate of unpaid debt, uncovered revenue or expected refinancing.
| Selected financing | Recorded maturity description | Contract horizon | Gap interpretation |
|---|---|---|---|
| CoreWeave · DDTL 5.5 | 2031-09-01 | Approximately three years, average underlying contracts | Approximately two years between rounded disclosed horizons; not uncovered principal |
| IREN · Microsoft DDTL floating tranche | 2031-12-31 or earlier on final contract fee payment | Matched contract end / distribution not established | Not calculated |
| Nebius · First secured GPU facility | 2030-10-31 | Matched contract end / distribution not established | Not calculated |
| Lambda · Investment-grade rated TLB | 2030-12-31 | Matched contract end / distribution not established | Not calculated |
Maturity descriptions may be inherited. A debt maturity alone cannot establish a contract gap. No tenor has been fabricated for missing contracts.
CoreWeave DDTL 5.5 issuer announcement ↗
3.9–6.1%Read →