secwatch.observer — SEC 8-K summary
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Issuer:     IREN Ltd (IREN)
CIK:        0001878848
Form:       8-K
Filed at:   2026-06-01T11:06:02+00:00
Accession:  0001140361-26-023427
Event type: debt
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

IREN subsidiary secures $3.6B financing for GPU infrastructure under Microsoft contract
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- $1.5B delayed draw term loan (SOFR + 2.25%) and $2.1B 5.96% senior notes due Dec 31, 2031.
- Proceeds fund GPU services for Microsoft under Nov 2, 2025 contract at Childress, TX data centers.
- Parent guarantees limited to performance obligations and shortfalls from Microsoft non-acceptance/termination.
- Covenants include debt service coverage ratio of at least 1.05:1.00; hedge agreements for interest rate and power.
- Financing available until May 29, 2027; maturity Dec 31, 2031 with amortization schedules.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878848/000114036126023427/0001140361-26-023427-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878848/000114036126023427/ef20075181_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-023427

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