NBIS · Nebius Group N.V.

Nebius Group N.V. announced the signing of a $775 million senior secured term loan facility through its indirect wholly owned subsidiaries, Nebius Compute II, LLC (US) and Nebius Compute II Oy (Finland). The facility, arranged by MUFG Bank and other leading financial institutions, is backed by deployed GPU infrastructure and contracted cash flows from an investment-grade customer. The loan matures on October 31, 2030, and carries an interest rate of Term SOFR plus 2.50%, with a 0% floor. Key covenants include a debt service coverage ratio of 1.15:1.00 and a minimum liquidity requirement. Proceeds will accelerate the global buildout of Nebius's AI cloud platform. The company provided limited guarantees for specified bad acts and performance guarantees under management and colocation agreements. This transaction demonstrates Nebius's ability to secure asset-level financing at attractive terms, with the press release noting the facility was significantly oversubscribed. The financing structure is repeatable, with over $40 billion in additional contracted revenue from investment-grade customers like Microsoft and Meta already in place. This disciplined approach supports Nebius's strategy of building a sustainable, profitable AI cloud business.