A fund managed by Blue Owl Capital has led a $2.4 billion debt financing package for cloud computing provider Iren, according to Bloomberg. The proceeds are set to support Iren’s purchase of Nvidia Blackwell Ultra GPUs for its data center campus in Canada. The financing consists of a $1.2 billion senior secured term loan and an equal amount of senior secured notes, for a combined total of $2.4 billion. Documents cited in the report show the structure allows Iren to buy equipment in stages within a specified period, rather than all at once. Pacific Investment Management Co. is also listed as one of the backers on the deal. The documents show the financing carries a 9% interest rate and a term of two and a half years. The report ties the funding directly to hardware procurement for Iren’s Canadian data center buildout.
Bloomberg reported that a fund under Blue Owl Capital led a $2.4 billion debt financing package to support cloud computing provider Iren’s purchase of Nvidia Blackwell Ultra GPUs for its data center campus in Canada.
The financing includes a $1.2 billion senior secured term loan and an equal amount of senior secured notes. Documents cited in the report show the structure allows Iren to purchase equipment in stages within a specified period.
Pacific Investment Management Co. is also one of the backers on the financing, according to the report. The documents show the deal carries a 9% interest rate and a term of two and a half years.
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