Nebius Group Secures $3.5 Bln Credit Facility From Citi

(RTTNews) - Nebius Group N.V. (NBIS), an AI cloud computing company, Thursday said it has secured a $3.5 billion senior secured financing facility from Citi to fund its global expansion.

The 364-day facility initially carries interest at Term SOFR plus 2.75% per annum, rising to a maximum of 3.50%, subject to adjustments.

The proceeds are expected to be used for data center development, GPU purchases and general corporate needs.

"This facility provides additional financing to support our near-term capacity build-out. We still have a range of capital sources available to us to finance the next phase of growth, including asset-backed financing based on investment-grade customer commitments of more than $40 billion of long-term contracts," said Ophir Nave, Chief Operating Officer.

Citi acted as mandated lead arranger, agent and security agent for the facility.

In pre-market activity on the Nasdaq, Nebius shares were down 1.50% after closing at $171.57 on Wednesday.