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CoreWeave DDTL 3.0: the credit agreement on one page.
The Credit Agreement (8-K Exhibit 10.1) filed on SEC EDGAR, summarised on the eight terms in-house teams negotiate first, each checked against the filed text.
- Borrower
- CoreWeave Compute Acquisition Co. VII and Co. V, LLC
- Sponsor
- CoreWeave
- Signed
- 28 July 2025
- Commitments
- $2,600m
- Administrative agent
- MUFG Bank, Ltd.
- Arrangers and lenders
- Morgan Stanley, MUFG and Goldman Sachs
- Governing law
- New York
- The filed agreement
- Credit Agreement (8-K Exhibit 10.1)
- In the deal register
- The deal record
- Company profile
- What CoreWeave has signed
The terms
Eight terms
| Term | Position |
|---|---|
| Facility size | US$2.6bn delayed draw |
| Pricing | SOFR + 4.00% |
| Final maturity | 21 August 2030 |
| The customer contract | The OpenAI master services agreement for Phoenix 1 |
| Financial covenant | DSCR of 1.40x from April 2027, and a contract realisation ratio of 0.85x |
| Cash trap and sweep | Cash trapped on a material OpenAI breach, including three months unpaid |
| Prepayment premium | None: prepayable without premium |
| Change of control | CoreWeave must keep 100% of each company in the chain; loans repaid |
Each term links to the same term across all 12 filed facilities. Subscribers see the filed wording below.
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The other filed facilities
Method
The agreements are the exhibits filed on SEC EDGAR as at 28 October 2026, in the form filed: later amendments can change any term, and redacted figures are shown as redacted. Every quotation is checked against the filed document before it is published, and the build stops on any that has not been. The position beside each quotation is a plain summary of it. Nothing here comments on the credit of any borrower or sponsor. 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.
