CoreWeave Announces Upsize and Pricing of $2,000 million of Senior Notes
CoreWeave (NASDAQ: CRWV) has successfully priced a private offering of $2,000 million in senior notes, representing a $500 million increase from the initially announced offering size. The notes, carrying a 9.250% interest rate and maturing on June 1, 2030, will be guaranteed by CoreWeave Cash Management LLC, a wholly-owned subsidiary.
The offering is expected to close on May 27, 2025, with the notes being issued at par. The proceeds will be used for general corporate purposes, including debt repayment and offering-related expenses. The notes are being offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.
CoreWeave (NASDAQ: CRWV) ha completato con successo la sottoscrizione di un'offerta privata di 2.000 milioni di dollari in obbligazioni senior, con un aumento di 500 milioni di dollari rispetto alla dimensione inizialmente annunciata. Le obbligazioni, con un tasso di interesse del 9,250% e scadenza il 1° giugno 2030, saranno garantite da CoreWeave Cash Management LLC, una controllata interamente posseduta.
L'offerta dovrebbe concludersi il 27 maggio 2025, con l'emissione delle obbligazioni a valore nominale. I proventi saranno utilizzati per scopi aziendali generali, inclusi il rimborso del debito e le spese correlate all'offerta. Le obbligazioni sono offerte esclusivamente a investitori istituzionali qualificati ai sensi della Regola 144A e a persone non statunitensi secondo il Regolamento S del Securities Act.
CoreWeave (NASDAQ: CRWV) ha cerrado con éxito una oferta privada de 2.000 millones de dólares en notas senior, lo que representa un aumento de 500 millones de dólares respecto al tamaño inicialmente anunciado. Las notas, con un tipo de interés del 9,250% y vencimiento el 1 de junio de 2030, estarán garantizadas por CoreWeave Cash Management LLC, una subsidiaria de propiedad total.
Se espera que la oferta se cierre el 27 de mayo de 2025, emitiéndose las notas a la par. Los ingresos se destinarán a fines corporativos generales, incluyendo el pago de deuda y gastos relacionados con la oferta. Las notas se ofrecen exclusivamente a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo el Reglamento S de la Ley de Valores.
CoreWeave (NASDAQ: CRWV)는 20억 달러 규모의 선순위 채권 사모 발행을 성공적으로 완료했으며, 이는 최초 발표된 규모보다 5억 달러 증가한 금액입니다. 이 채권은 9.250%의 이자율을 가지며 2030년 6월 1일에 만기가 도래하고, 전액 출자 자회사인 CoreWeave Cash Management LLC가 보증합니다.
이번 발행은 2025년 5월 27일에 마감될 예정이며, 채권은 액면가로 발행됩니다. 수익금은 부채 상환 및 발행 관련 비용을 포함한 일반 기업 목적에 사용될 예정입니다. 이 채권은 증권법의 규칙 144A에 따른 적격 기관 투자자 및 규정 S에 따른 비미국인에게 독점적으로 제공됩니다.
CoreWeave (NASDAQ: CRWV) a réussi à fixer le prix d'une émission privée de 2 000 millions de dollars en obligations senior, soit une augmentation de 500 millions de dollars par rapport à la taille initialement annoncée. Les obligations, portant un taux d'intérêt de 9,250% et arrivant à échéance le 1er juin 2030, seront garanties par CoreWeave Cash Management LLC, une filiale en propriété exclusive.
L'offre devrait se clôturer le 27 mai 2025, les obligations étant émises à leur valeur nominale. Les fonds seront utilisés à des fins générales d'entreprise, y compris le remboursement de la dette et les frais liés à l'offre. Les obligations sont proposées exclusivement à des acheteurs institutionnels qualifiés selon la règle 144A et à des personnes non américaines selon le règlement S de la loi sur les valeurs mobilières.
CoreWeave (NASDAQ: CRWV) hat erfolgreich eine Privatplatzierung von 2.000 Millionen US-Dollar in Senior Notes abgeschlossen, was eine Erhöhung um 500 Millionen US-Dollar gegenüber der ursprünglich angekündigten Angebotsgröße darstellt. Die Notes haben einen Zinssatz von 9,250% und laufen am 1. Juni 2030 ab. Sie werden von der vollständig im Besitz befindlichen Tochtergesellschaft CoreWeave Cash Management LLC garantiert.
Das Angebot soll am 27. Mai 2025 abgeschlossen werden, wobei die Notes zum Nennwert ausgegeben werden. Die Erlöse werden für allgemeine Unternehmenszwecke verwendet, einschließlich der Rückzahlung von Schulden und auf die Emission bezogenen Kosten. Die Notes werden ausschließlich qualifizierten institutionellen Käufern gemäß Regel 144A und Nicht-US-Personen gemäß Regulation S des Securities Act angeboten.
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- High interest rate of 9.250% represents significant debt servicing costs
- Additional debt burden could impact company's financial flexibility
- Senior notes are unsecured, providing less protection for noteholders
Insights
CoreWeave secures $2B in senior notes at 9.25%, upsizing by $500M, signaling strong investor demand despite substantial interest costs.
CoreWeave's successful pricing of
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The notes being issued at par (100% of face value) rather than at a discount is another positive signal regarding market reception. However, these senior notes are unsecured, which typically commands higher interest rates to compensate investors for greater risk compared to secured debt.
CoreWeave's stated intention to use proceeds for "general corporate purposes" and "repayment of outstanding indebtedness" suggests this may be partially a refinancing operation. This strategic debt management could be aimed at extending maturity profiles or consolidating various debt obligations, though the specific existing debt terms aren't disclosed.
The June 1, 2030 maturity provides CoreWeave with a 5-year runway before principal repayment becomes due, offering operational flexibility in the medium term while creating a substantial refinancing requirement at maturity. The transaction's expected closing on May 27, 2025, indicates the deal is progressing on a standard timeline for capital markets transactions.
CoreWeave intends to use the proceeds from the offering of the Notes for general corporate purposes, including, without limitation, repayment of outstanding indebtedness, and to pay fees, costs and expenses in connection with the offering of the Notes.
The Notes and related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), or to persons other than "
This press release is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About CoreWeave
CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the Notes offering and the expected use of proceeds therefrom, which statements are based on current expectations, forecasts, and assumptions and involve risks and uncertainties that could cause actual results to differ materially from expectations discussed in such statements. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including, but not limited to, CoreWeave's ability to complete the offering on favorable terms, if at all, and general market, political, economic and business conditions which might affect the offering. These factors, as well as others, are discussed in CoreWeave's filings with the Securities and Exchange Commission, including the sections titled "Special Note Regarding Forward-Looking Statements" and "Risk Factors" in CoreWeave's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. All forward-looking statements contained herein are based on information available as of the date hereof and CoreWeave does not assume any obligation to update these statements as a result of new information or future events.
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SOURCE CoreWeave
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