Iren Secures $2.4 Billion Debt Financing for Nvidia GPU Acquisition

Cloud computing provider Iren has completed a $2.4 billion debt financing round led by a fund under Blue Owl Capital. The funds are designated for the purchase of Nvidia Blackwell Ultra GPUs to be deployed at its data center campus in Canada. The financing package consists of $1.2 billion in senior secured term loans and an equal amount in senior secured notes, with a structure that allows for phased equipment procurement. Pacific Investment Management Company (PIMCO) also participated as a guarantor. The debt carries a 9% interest rate with a two-and-a-hal