InfraCompute / Deals
CoreWeave: Corporate term loan
Corporate credit facility for CoreWeave, US$1bn, 16 December 2024.
Key terms
- Borrower or issuer
- CoreWeave
- Date
- 16 December 2024
- Structure
- Corporate credit facility
- Amount
- US$1bn
- Pricing
- Term SOFR + 5.25% to
- Tenor
- matures 16 December 2025; repaid 11 April 2025 with IPO proceeds
Recorded terms
- Lender type
- Bank loansNamed lender: JPMorgan (admin/collateral)
- Tenor
- matures 16 December 2025; repaid 11 April 2025 with IPO proceeds
- Security
- partly secured ($229M) by substantially all assets; remainder unsecured
- Lenders and arrangers
- JPMorgan (admin/collateral); JPM + MUFG (JLAs)
Parties
Similar financings
Same structure, other borrowers, closest in date.
More from CoreWeave
Filed documents and legal terms
The documents behind this financing that are filed on SEC EDGAR, with the governing law each states. Read any document in full before relying on it; filers may redact commercial terms.
- Filed documents
- 2
- Governing law
- New York law
- Quoted in the clause and contract libraries
- 1
This Agreement shall be governed by and interpreted in accordance with the laws of the State of New York, without regard to its principles regarding conflicts of law.
From the Master Services Agreement, Bare Metal Environment, with OpenAI OpCo (S-1/A Ex 10.24), filed with the SEC.
| Filed document | Dated | Governing law | In InfraCompute |
|---|---|---|---|
| Second MSA, Bare Metal Environment, with OpenAI OpCo (S-4/A Ex 10.32) | 8 May 2025 | New York law | – |
| Master Services Agreement, Bare Metal Environment, with OpenAI OpCo (S-1/A Ex 10.24) | 7 March 2025 | New York law | Quoted: Customer default: fees for the rest of the term · Quoted: Customer step-in on provider insolvency · Quoted: Assignment to lenders and change of control |
In-house counsel working on similar terms? Ask Randeep for a market check or see what is market.
For counsel on this deal
Acting for a lender, borrower or sponsor on a financing like this? Start from the filed precedents. Previews are open; the full text is free with InfraCompute Weekly.
Sources
- CoreWeave Form10-Q quarter ended March31 2025Source date: 14 May 2025
- CoreWeave March 2025 S-1/A — OEM financing aggregateSource date: 11 March 2025
About this record
Compiled from the sources above. Terms are as announced and may have changed since. Methodology · Send a correction.
