CoreWeave subsidiary signed a $3.1 billion loan facility on May 15, 2026 to fund GPU servers and related infrastructure

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On May 15, 2026, CoreWeave Financing DDTL V, LLC, an indirect subsidiary of CoreWeave, entered into a credit agreement for a $3.1 billion delayed draw term loan facility, a loan the borrower could take in several draws, which the company calls the DDTL 5.0 Facility. CoreWeave reported the agreement in an 8-K, the form a US-listed company files to disclose a major event, filed on May 18, 2026. The company said the facility was entered into mainly to finance capital expenditures needed to perform certain customer contracts, including GPU servers and related infrastructure.1^,2^,3^,4

Borrowings that follow SOFR, a benchmark interest rate, paid daily compounded SOFR plus 4.50% a year, and undrawn amounts incurred a fee of 0.50% a year. The 8-K said draws were available until a commitment termination date in September 2026 and gave a maturity date of Nov 15, 2031. CoreWeave, Inc. guaranteed all obligations under the facility, which were secured by substantially all assets of the borrower and its subsidiaries. The borrower had to keep a debt service coverage ratio of at least 1.35x, starting the first full month after the earlier of commitments falling to zero and Sep 30, 2026.5^,6^,7^,8^,9^,10

In a press release dated May 18, 2026, furnished with the 8-K, CoreWeave described the facility as the first publicly syndicated delayed draw term loan backed by HPC (high-performance computing) infrastructure. It said strong demand tightened the pricing by 50 basis points during syndication, to a final SOFR plus 4.50%. The company said proceeds would support infrastructure for contracts with two large customers it described as non-investment grade. It said the facility followed its $8.5 billion DDTL 4.0 facility, completed earlier that year, and that with this closing it had secured more than $20 billion of debt and equity capital in the year to date.11^,12^,13^,14^,15^,16

The 8-K says the credit agreement and the parent guarantee are filed as Exhibits 10.1 and 10.2, with portions of the credit agreement omitted.17^,18