Tools / Issues list builder
InfraCompute Tools · Issues list builder
The issues list, before the first call.
Pick the document and the side you act for. The builder sets out the points that come up, your position, what to expect from the other side and where the filed deals landed, with a source for each. Copy it into your own template, or download it for Word or Excel.
- GPU credit agreement
- 34 points
- GPU capacity contract
- 16 points
- Data centre lease and backstop
- 21 points
- Colocation agreement
- 8 points
- Power contract
- 9 points
- Design-build contract
- 5 points
- Equipment warehouse loan
- 4 points
- Compute equipment lease
- 10 points
- Pre-lease development loan
- 5 points
- AI lab credit agreement
- 6 points
- Neocloud corporate revolver
- 5 points
- Platform preferred equity
- 7 points
- Development joint venture
- 6 points
- Bond indenture
- 16 points
Preview
Three lender points on a GPU credit agreement
| No. | Issue | Lender | Borrower or sponsor | Where the filed deals land | Source |
|---|---|---|---|---|---|
| 1 | Facility size | Size the commitment to the contracted fleet only; any uplift for a later customer contract comes back for fresh credit approval. | An incremental or accordion on the same terms, so the next customer contract does not need a new facility. | How much the lenders commit, and how it is split. The later facilities split a fixed rate tranche from a floating one, which lets insurance and private credit money sit beside the banks in one facility. | Source |
| 2 | Pricing | Price off the weaker of the customer’s credit and the GPU residual, with a step-up if the facility is not refinanced or a customer is not accepted on time. | Price off the customer’s credit, with a rating-linked step-down (as in the IREN facility) once a rating is in place. | The 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, as bank syndicates replaced the private credit lenders of the first two facilities. | Source |
| 3 | Final maturity | Maturity no later than the end of the customer contract term, and before the GPUs’ useful life runs out. | Tenor long enough to amortise over the whole contract, so there is no refinancing balloon at the end. | When the loan must be repaid. The Microsoft-backed facilities tie maturity to the customer’s last payment, so the debt never outlives the contract that pays for it. | Source |
Subscribers build the full list for any of the five documents, from either side, and choose the points that matter.
Method
Each point comes from the GPU loan summaries, the What's market cards, the contract library or the bond protections, as they stand today. “Where the filed deals land” summarises the filed documents, which are linked from each source page. The list is a starting structure: it does not know your documents, and the positions you take are yours. 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.
