Applied Digital unit plans $1.59 billion senior secured notes offering due 2031

Applied Digital

Applied Digital

APLD

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  • Applied Digital announced a proposed offering of USD 1.59 billion of senior secured notes due 2031 via its subsidiary APLD ComputeCo 3.
  • Proceeds earmarked to fund construction of 150 megawatts of critical IT load at the fourth Polaris Forge 1 building in Ellendale, North Dakota.
  • Funds also slated to repay a Goldman Sachs-led bridge loan facility, build debt service reserves, pay transaction expenses.
  • Notes to be secured by first-priority liens on substantially all assets of APLD ComputeCo 3 and guarantors, plus pledged equity interests.
  • Applied Digital to provide a completion guarantee to support timely completion of the ELN-04 project.


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