Nscale closes roughly $3bn in investment-grade debt
Two delayed-draw term-loan facilities will finance GPU campuses in Texas and North Carolina.
Announced on 31 August, the senior secured delayed-draw facilities provide up to $1.85 billion for Ward County, Texas, and up to $1.2 billion for Madison, North Carolina. These are borrowing commitments to support the campus buildouts.
The facilities will fund GPU systems, networking, storage and cooling equipment. The Texas deployment is designed for approximately 200 MW of IT load; the North Carolina site supports up to 40 MW.
J.P. Morgan and Goldman Sachs acted as joint lead arrangers, bookrunners and co-structuring agents. J.P. Morgan was lead-left arranger for Texas, and Goldman Sachs held that role for North Carolina.
Use of funds
Fund GPU campuses in Ward County, Texas and Madison County, North Carolina