InfraCompute / Deals

Nebius: first secured GPU facility

GPU-backed loan for Nebius, US$775m, 17 July 2026.

Key terms

Borrower or issuer: Nebius
Date: 17 July 2026
Structure: GPU-backed loan
Amount: US$775m
Pricing: 1-month Term SOFR (0% floor) + 2.50%As stated in the source below
Tenor: matures 31 October 2030

What’s notable

A US$775m facility with MUFG as structuring agent, sole bookrunner and underwriter and a ten-bank group behind it. It is secured on GPUs and contracted cash flows from an unnamed investment-grade customer, with share pledges but no full parent guarantee. The 1.15x DSCR covenant and the limited recourse make it a useful reference point for neocloud asset-level structures.

Recorded terms

Lender type: Bank loansNamed lender: MUFG
Tenor: matures 31 October 2030
Security: GPUs and contracted cash flows from an investment-grade customer; substantially all borrower assets and share pledges; no full parent guarantee
Lenders and arrangers: MUFG; ABN AMRO; Bank of America; Deutsche Bank; HSBC; Citi; Credit Agricole; ING; Morgan Stanley; Goldman Sachs
Tenant or offtaker: Unnamed IG customer

Similar financings

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Sources

Nebius first secured debt financingSource date: 17 July 2026

About this record

Compiled from the sources above. Terms are as announced and may have changed since. Methodology · Send a correction.