CoreWeave closes $3.1B DDTL 5.0; oversubscribed, pricing tightened 50 bps to SOFR+4.50%

CoreWeave, Inc.

First publicly syndicated HPC-backed delayed draw term loan; received Ba2/BB+ ratings from Moody's/Fitch.
Facility matures Nov 15, 2031 (5.5 years); proceeds fund GPU infrastructure for two non-investment-grade customer contracts.
Pricing improved 50 bps during syndication to SOFR+4.50%; undrawn fee 0.50% per annum.
Covenant: debt service coverage ratio >=1.35x beginning after commitments reduced to zero or Sep 30, 2026.
Year-to-date total debt and equity capital raised exceeds $20B, including $8.5B DDTL 4.0 earlier in 2026.

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