Nebius Group (Nebius), an AI cloud company, has entered into a US$ 3.5 billion senior secured credit facility provided by Citi, an American multinational investment bank and financial services corporation, to help finance its data center expansion and GPU procurement to increase its global infrastructure capacity.
According to a press release, the 364 day facility carries an initial interest rate of Term SOFR plus 2.75 percent per year, rising to a maximum of 3.5 percent, subject to other adjustments. The proceeds will also be available for general corporate purposes.
The loan forms part of Nebius’s broader funding strategy, which combines customer prepayments and operating cash flow with external financing. By securing capital through different sources and at different stages of its expansion, the company aims to manage its borrowing costs while retaining flexibility over when and how it raises additional funds.
“We continue to execute our funding strategy as planned, and are pleased to have secured this financing from a leading global financial institution,” said Ophir Nave, Chief Operating Officer, Nebius. “This facility provides additional financing to support our near-term capacity build-out. We still have a range of capital sources available to us to finance the next phase of growth, including asset-backed financing based on investment-grade customer commitments of more than US$ 40 billion of long-term contracts.”
The Citi facility would support the company’s near-term infrastructure investments while leaving other financing options available for future growth. Citi acted as mandated lead arranger, agent and security agent for the facility and Nebius also pointed to asset backed financing as a potential source of funding.