TeraWulf seeks $3 billion in debt financing for data center construction
according to Bloomberg, Bitcoin mining company TeraWulf (Nasdaq: WULF) is expected to raise about $3 billion to support the construction of its data center. Morgan Stanley is arranging this potential transaction for TeraWulf, which could start as early as October, with financing possibly completed through the high-yield bond or leverage loan market.
It is expected that Google will provide backstop support for the transaction, which could result in a higher rating for the debt, with rating agencies determining the credit rating of the transaction within the BB to CCC range.
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