Applied Digital Secures $350M Credit Facility

By Chris Stiles • Tuesday, June 09 12:21 • Permanent Link

Applied Digital said it closed a revolving credit facility on May 29, 2026, with up to $350 million of committed capacity and an additional accordion feature that could raise the total to $550 million.

The facility is scheduled to mature on May 29, 2029. It carries interest at SOFR plus 225 basis points, or the alternative base rate plus 125 basis points.

The company said the financing will support pre* and post-lease development of its data center projects, along with working capital and other general corporate uses.

Applied Digital also said it entered into a memorandum of understanding on June 5, 2026, with CoreWeave to assign the lease for Building 3 at the Polaris Forge 1 campus to a CoreWeave subsidiary if that subsidiary obtains an investment-grade credit rating.

Goldman Sachs arranged the facility. First National Bank of Omaha, Mizuho Bank, Royal Bank of Canada, Banco Santander and Wells Fargo Bank joined as joint lead arrangers and joint bookrunners. As a result of these announcements, the company's shares have moved 3.92% on the market, and are now trading at a price of $42.55. For more information, read the company's full 8-K submission here.

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