Iren Completes $2.4 Billion Debt Financing for Nvidia GPU Procurement

According to Bloomberg, a fund led by Blue Owl Capital has completed 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 $1.2 billion in senior secured term loans 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 among the guarantors of the financing. Documents show the financing carries an interest rate of 9% with a term of two and a half years.