Nebius Secures $3.5B 364-Day Citi Facility for Data Centers and GPUs
Nebius said Citi is providing a $3.5 billion, 364-day senior secured facility for data center development and GPUs, priced at Term SOFR plus 2.75% and rising to a maximum of 3.50%.
2 min read
A Nebius data center in Finland, from the company's media kit. The release does not say which sites the Citi facility will fund.
Image: Nebius
Source · Press image from the Nebius media kit, used for news reporting.
Nebius Group N.V. said on October 22 that it has entered into a $3.5 billion senior secured facility provided by Citi, money it will put into data center development and GPU procurement for its AI cloud, the company said in a statement.
The facility has a 364-day maturity. It initially bears interest at Term SOFR plus 2.75% a year, rising to a maximum of 3.50%, subject to other adjustments. Citi acted as mandated lead arranger, agent and security agent. Proceeds can also go to general corporate purposes, according to the Amsterdam-based company.
Chief Operating Officer Ophir Nave said the facility provides additional financing for Nebius's near-term capacity build-out. He added that the company still has a range of capital sources for its next phase of growth, including asset-backed financing based on investment-grade customer commitments of more than $40 billion of long-term contracts.
Why a 364-Day Facility Matters for Data Center Capacity
A 364-day loan is short-term money. It can pay for construction and GPUs now, while the longer-dated, contract-backed debt Nave pointed to is arranged. For a landlord, a utility or a supplier watching Nebius, the signal is that the company intends to keep building ahead of that longer financing rather than wait for it. The announcement does not say which sites or how many megawatts the facility funds.
