Compute / the Ledger · 2 deals
Who is paying whom for compute.
Every deal dated, typed in plain words, and linked to the document it comes from.
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Deals with Magnetar Capital as a party. Magnetar Capital’s page · Show every party
| Announced | Deal | Parties | Type | Value | Terms | Source |
|---|---|---|---|---|---|---|
| 17 May 2024 | CoreWeave enters DDTL 2.0 delayed draw term loan of up to $7.6B, led by Blackstone and MagnetarSignedBorrower CoreWeave Compute Acquisition Co. IV. Loan availability is a percentage of depreciated GPU server cost, scaled by the credit rating of the contracted customer. Margins per CoreWeave 8-K 2025-10-02: term SOFR + 6.00-6.50% for investment-grade contract loans, + 13.00% for non-investment-grade. A fifth amendment on 2025-09-29 added a $3.0B tranche at term SOFR + 4.25% (CoreWeave 8-K 2025-10-02). |
| Loan against chips | $7.6BUp to $7.6B per the S-1, subject to collateralization requirements; announced in May 2024 as a $7.5B facility. | CoreWeave S-1, 2025-03-03Regulatory filing | |
| 3 Aug 2023 | CoreWeave closes $2.3B delayed draw term loan (DDTL 1.0) led by Magnetar and BlackstoneSignedBorrower CoreWeave Compute Acquisition Co. II, entered July 2023. CoreWeave's S-1 (2025-03-03) reports the actual average interest rate charged on DDTL 1.0 borrowings as 14.12% (Dec 31 2023) and 14.11% (Dec 31 2024). Floating rate; no fixed coupon. Per the S-1: secured by substantially all of the borrower's assets and a pledge of 100% of its equity; proceeds financed GPU servers and related infrastructure for customer contracts; Term SOFR + 9.6196%; matures March 28, 2028. Coatue and DigitalBridge Credit also participated (release). |
| Loan against chips | $2.3B | CoreWeave press release, 2023-08-03Company press release |
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