Tools / Counterparty profiles / Applied Digital
Counterparty profile · Data centre developer
Applied Digital: what it has signed
Applied Digital is the landlord in one data centre lease, the landlord in one lease assignment, the beneficiary in one guarantee, the borrower’s parent in two development loans, the sponsor in one preferred equity agreement, the sponsor (common member) in one preferred equity agreement and the sponsor in three note issues filed on SEC EDGAR. This page sets out the financings and what those contracts say, clause by clause, in the filed wording. Applied Digital on the deal register.
- Filed contracts
- 7
- Clauses covered
- 20
- Filed extracts
- 45
- Filed financings
- 3
The financings
Filed GPU loans and notes
Three filed financings, $6,090m of loan commitments and notes in all. Each links to its checked summary, where the terms in-house teams negotiate first are quoted from the filed credit agreement or indenture.
| Financing | Applied Digital is the | Signed | Size | Lenders or security | Source |
|---|---|---|---|---|---|
| APLD ComputeCo 9.25% senior secured notes due 2030 Project notes | Sponsor | 20 November 2025 | $2,350m | Polaris Forge 1, Ellendale, North Dakota (ELN-02 and ELN-03), leased to CoreWeave | Filing |
| APLD ComputeCo 2 6.75% senior secured notes due 2031 Project notes | Sponsor | 10 March 2026 | $2,150m | Polaris Forge 2, Harwood, North Dakota (FAR-01 and FAR-02) | Filing |
| APLD ComputeCo 3 7.000% senior secured notes due 2031 Project notes | Sponsor | 16 June 2026 | $1,590m | Polaris Forge 1, Ellendale, North Dakota (ELN-04) | Filing |
Other profiles
Method
Built only from the contract library and the filed financings: the contracts and credit agreements above are public SEC exhibits, each extract is checked against the filed text, and each summary row must be supported by its extracts. A contract shows what was agreed in that deal, at that date; it does not show what Applied Digital would agree today, and its defined terms and other clauses can change the effect. Nothing here comments on any company. General information drawn from public filings. It is not legal advice on any transaction, and using this page does not create a lawyer-client relationship. Views are personal.
