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IREN Hardware 3 DDTL: the credit agreement on one page.
The Hardware 3 Credit Agreement (10-K Exhibit 10.35) filed on SEC EDGAR, summarised on the eight terms in-house teams negotiate first, each checked against the filed text.
- Borrower
- IE US Hardware 3 LLC
- Sponsor
- IREN
- Signed
- 29 May 2026
- Commitments
- $1,545m
- Administrative agent
- CSC Delaware Trust Company
- Arrangers and lenders
- Goldman Sachs and JPMorgan
- Governing law
- New York
- The filed agreement
- Hardware 3 Credit Agreement (10-K Exhibit 10.35)
- In the deal register
- The deal record
- Company profile
- What IREN has signed
The terms
Eight terms
| Term | Position |
|---|---|
| Facility size | US$1.545bn delayed draw |
| Pricing | SOFR + 2.50%, down to 2.25% with an A rating |
| Final maturity | Earlier of the customer’s final service fee and 31 December 2031 |
| The customer contract | One customer contract; amortisation reset as each tranche is accepted |
| Financial covenant | Set in the common terms agreement shared with the note purchasers |
| Cash trap and sweep | Not in this agreement; the common terms agreement governs the project |
| Prepayment premium | None: prepayable without premium |
| Change of control | Events of default sit in the common terms agreement |
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.
