Blue Owl Leads $2.4B Debt Financing for Iren to Purchase Nvidia Blackwell Ultra GPUs

On August 29, a fund under Blue Owl Capital led a $2.4 billion debt financing to support cloud service provider Iren in purchasing Nvidia Blackwell Ultra GPUs for its Canadian data center campus.

The financing includes a $1.2 billion senior secured term loan and an equal amount of senior secured notes, structured to allow Iren to procure equipment in phases over a specified period. Pacific Investment Management Company is also a guarantor of the financing, with documents showing an interest rate of 9% and a term of two and a half years.

[TechFlow]