InfraCompute / Deals
CoreWeave: DDTL 2.1 incremental tranche
GPU-backed loan for CoreWeave, US$3bn, 29 September 2025.
Key terms
- Borrower or issuer
- CoreWeave
- Date
- 29 September 2025
- Structure
- GPU-backed loan
- Amount
- US$3bn
- Pricing
- 3m Term SOFR + 4.25%
- Tenor
- each draw matures 5 years after funding; draw period to March 2026
What’s notable
A US$3bn add-on to CoreWeave's May 2024 DDTL 2.0, priced at three-month Term SOFR + 4.25%. Each draw matures five years after funding and is secured on GPUs and customer contracts with a parent guarantee. The customer base includes unrated strategic customers as well as investment-grade names, which shows lenders taking some contract-credit risk below investment grade.
Recorded terms
- Lender type
- Lender type not establishedNo lender named in the public sources held
- Tenor
- each draw matures 5 years after funding; draw period to March 2026
- Security
- GPUs and customer contracts (CCAC IV assets; parent guarantee)
- Lenders and arrangers
- US Bank Trust Co (admin and collateral agent); Agent: U.S. Bank Trust (administrative agent and collateral agent), U.S. Bank Trust (administrative agent)
- Tenant or offtaker
- Investment-grade and unrated strategic customers
Related facilities
Similar financings
Same structure, other borrowers, closest in date.
More from CoreWeave
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Sources
- CoreWeave Q3 2025 Form 10-QSource date: 30 September 2025
About this record
Compiled from the sources above. Terms are as announced and may have changed since. Methodology · Send a correction.
