• Iren unit IE US Hardware 3 secured about USD 3.6 billion in new project financing tied to its dedicated GPU services deal with Microsoft.
• Package includes a USD 1.5 billion delayed-draw term loan facility, available through May 29, 2027, subject to extensions.
• Also issued USD 2.1 billion of 5.96% senior notes due Dec. 31, 2031; maturity can accelerate if Microsoft tranche fees are paid early.
• Term loan pricing set at term SOFR plus 2.25%; 0.40% commitment fee applies to undrawn amounts during the availability period.
• Debt is secured by Hardware 3 assets, including GPUs, equity pledge, Microsoft contract cash flows; parent provides limited guarantees on specified obligations.

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