Nebius Group has secured a $3.5bn senior secured credit facility from Citi for data centre development and graphics processing unit (GPU) procurement.
The AI cloud company will also deploy the proceeds for general corporate purposes.
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With a 364-day maturity, the facility initially carries an interest rate of Term SOFR plus 2.75% a year, with provisions for adjustments up to a maximum ceiling of 3.50% per annum.
Citi served as the mandated lead arranger, agent, and security agent for the transaction.
The credit line adds to an existing capital base that incorporates customer prepayments, operating cash flows, and other financing mechanisms.
Nebius noted that this structure provides flexibility over the timing and composition of future external capital-raising as it delivers on expansion plans into 2027 and beyond.
Nebius chief operating officer Ophir Nave said: “We continue to execute our funding strategy as planned, and are pleased to have secured this financing from a leading global financial institution. This is a result of our disciplined approach to managing our balance sheet to fund our portfolio of projects, and once again demonstrates our ability to choose when and how we raise capital to support our growth.
“Sequencing our financing is how we optimise our long-term cost of capital. 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 $40bn of long-term contracts.”
Nebius supplies full-stack infrastructure for developers and commercial enterprises.
Its platform supports AI tasks ranging from data management and model training to production deployment, serving organisations developing AI applications, autonomous agents, and related digital services globally.
Prior to this, Nebius Group raised the size of its planned debt offering to $5bn as it seeks to expand its data centre infrastructure and computing resources.
