Nebius gets $3.5 billion Citi facility for data center growth
NBIS•Nebius secured a $3.5 billion financing facility from Citi to fund data center development and GPU purchases. The 364-day facility carries an initial interest rate of 2.75% over term SOFR.
1. Facility terms
Nebius said the financing will support its near-term capacity build-out and give it more flexibility over the timing and structure of further fundraising for growth in 2027 and beyond. The facility matures in 364 days and carries an initial interest rate of 2.75% over the term SOFR benchmark rate.
2. Other funding sources
Chief Operating Officer Ophir Nave said Nebius had other financing options, including borrowing against more than $40 billion in long-term contracts with investment-grade customers, including Microsoft and Meta. The company also counts customer prepayments and operating cash flow among its funding sources, and has around $10 billion in convertible bond debt outstanding following a $5.75 billion issue in August.
