InfraCompute / Deals
Firmus: up to US$10bn senior secured facility
GPU-backed loan for Firmus, US$10bn, 9 February 2026.
Key terms
- Borrower or issuer
- Firmus
- Date
- 9 February 2026
- Structure
- GPU-backed loan
- Amount
- US$10bn
- Pricing
- Not disclosed
- Security
- GPUs and customer contracts (draws tied to executed contracts)
What’s notable
An up to US$10bn facility led by Blackstone and Coatue for the Project Southgate AI factories in Australia. Draws are tied to executed contracts with hyperscalers and AI customers, and security covers GPUs and those contracts. Counsel described it as the largest GPU financing for an Australian AI infrastructure company.
Recorded terms
- Lender type
- Private creditNamed lender: Coatue
- Security
- GPUs and customer contracts (draws tied to executed contracts)
- Lenders and arrangers
- Blackstone; Coatue; Blackstone and Coatue (lead lenders, reported)
- Tenant or offtaker
- Hyperscalers and blue-chip AI customers (unnamed)
Project connections
Similar financings
Same structure, other borrowers, closest in date.
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
- Firmus Secures US$10 Billion Financing led by Blackstone and CoatueSource date: 9 February 2026
About this record
Compiled from the sources above. Terms are as announced and may have changed since. Methodology · Send a correction.
