Applied Digital subsidiary proposes $2.35B senior secured notes due 2030 for data center buildout

Applied Digital Corp.

APLD ComputeCo LLC intends to offer $2.35B of senior secured notes due 2030 in a private offering.
Net proceeds will fund construction of 100 MW and 150 MW data centers (ELN-02 and ELN-03) at Ellendale campus.
Proceeds also repay existing debt under Sumitomo Mitsui Banking Corporation credit agreement and fund Debt Service Reserve.
Applied Digital will provide completion guarantees for the Facilities.
Notes and guarantees secured by first-priority liens on substantially all assets of APLD ComputeCo and its subsidiaries.

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