The AI cloud company said the facility, priced at SOFR + 2.50% and maturing in 2030, creates a template to finance more than $40 billion of additional customer commitments.
Nebius Group N.V. said it has entered into its first senior secured debt facility for about $775 million, using deployed GPU infrastructure and contracted cash flows from an agreement with an investment-grade customer as collateral. The AI cloud company plans to use the proceeds to accelerate the global build-out of its full-stack AI cloud platform. The facility matures on October 31, 2030, and is priced at SOFR (secured overnight funding rate) + 2.50%. Nebius said the debt, together with cash flows under the customer agreement, covers more than 100% of the capital expenditure needed to deploy the underlying GPU infrastructure. With the contract now in the servicing phase, the company said the financing can be redirected into additional capacity for AI-native and enterprise customers. Nebius described the deal as a repeatable asset-level financing framework for other long-term customer deployments. The company said it already has more than $40 billion of additional contracted revenue from investment-grade customers including Microsoft and Meta, and expects to raise more capital on similarly attractive terms. It added that it recently delivered the latest planned capacity tranche to Microsoft and remains on track to deliver the remaining tranches under the contracted schedule. Chief Operating Officer Ophir Nave said the financing supports Nebius's broader strategy of securing capacity, raising capital, expanding its product offering and using capital-efficient models to scale. The transaction was significantly oversubscribed and was led by MUFG, with a syndicate that included ABN AMRO Bank N.V., Bank of America, Deutsche Bank, HSBC, Citi, Crédit Agricole CIB, ING, Morgan Stanley and Goldman Sachs.