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← Terawulf
Mon, Mar 16, 2026

TeraWulf enters $500 million delayed-draw bridge facility for Hawesville

Source document ↗

Key points

  • Entered a 364-day $500 million delayed-draw senior secured bridge credit agreement on March 13, 2026
  • Proceeds may be used to finance construction and development of the company's data center facility in Hawesville, KY
  • Borrowings bear interest at Term SOFR plus a 2.75% margin, or a base rate plus a 1.75% margin, at the borrower's option
  • Borrower is subsidiary Raylan Data LLC, with Morgan Stanley Senior Funding as administrative and collateral agent; includes a $100 million minimum liquidity covenant
  • Also furnished unaudited FY2025 consolidating schedules required under the 7.750% senior secured notes due 2030 indenture