Cloud Firm CoreWeave Obtains $7.5 Billion in Private Debt (2)

Cloud computing company CoreWeave Inc. has received $7.5 billion of debt financing, mostly in the form of investment-grade loans, led by Blackstone Inc.

The senior secured debt has a hybrid structure that’s split between investment-grade and non-investment-grade tranches and backed by assets such as microchips, according to people with knowledge of the matter who asked not to be identified discussing a private transaction.

The two investment-grade rated tranches total around $5 billion, with a margin of 6 percentage points over the Secured Overnight Financing Rate for one, and 6.5 percentage points over SOFR for the other, the people said. The ...