Secured Overnight Financing Rate (SOFR)
A US dollar overnight benchmark measuring the cost of borrowing cash secured by US Treasury securities.
Why the distinction matters
The New York Fed publishes overnight SOFR. A loan may use a term rate or compounded convention instead, so retain the exact benchmark, observation period and floor.
Read the structure
How GPU collateral and customer cash flows support lending, and where the two can diverge.
GPU-backed loans: contracts, equipment and repayment ↗For in-house counsel
Secured Overnight Financing Rate in the filed documents
Where the term turns up in filed contracts and what is market, for the lender’s or the borrower’s side. Previews are open; the full text is free with InfraCompute Weekly.
- GPU loan summaries: pricingThe margin over SOFR. Read in date order, CoreWeave’s margin falls from 8.75% in 2023 to 2.25% on the floating tranche in 2026…
- Financing clause libraryCash traps, coverage ratios, cures and step-in, from the filed deals.
- Contract libraryGPU contracts, leases, power, equity and JVs, quoted from filed contracts.
- The legal desk for in-house counselContract library, issues lists, checklists and English law notes.
Related terms
Sources for the examples
The New York Fed source supports the overnight benchmark definition. Loan conventions must be read in the particular agreement.
Explanatory definition, not a statement that a particular transaction contains this term or a substitute for its contractual definition.
← Browse all definitions