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← Core Scientific
Thu, Aug 27, 2026

Core Scientific secures $600 million senior secured credit facilities

Source document ↗

Key points

  • Entered into $600 million of committed senior secured credit facilities: a $100 million revolving credit facility and a $500 million letter of credit facility
  • Revolver proceeds for general corporate purposes and working capital; letters of credit provide credit support for project obligations under utility agreements
  • Revolver bears interest at adjusted term SOFR plus 1.75% or an alternate base rate plus 0.75%, maturing on the third anniversary of closing (extendable to the fourth at the company's election)
  • Facilities are expected to release approximately $300 million of restricted cash
  • Guaranteed by wholly owned domestic subsidiaries and secured by a first-priority lien on substantially all assets; JPMorgan Chase as administrative and collateral agent