Kirkland Advises CoreWeave on $2.6 Billion Loan Facility, Expanding Financing Flexibility for AI Infrastructure
Kirkland & Ellis advised CoreWeave, Inc. (Nasdaq: CRWV), The Essential Cloud for AI™, on a $2.6 billion delayed draw term loan facility (DDTL 5.5 Facility), supporting the continued expansion of its AI cloud platform and committed customer deployments. The DDTL 5.5 Facility extends CoreWeave’s HPC infrastructure-backed financing platform by broadening the scope of customer contracts eligible for publicly syndicated infrastructure financing. Unlike prior delayed draw term loan facilities backed by customer contracts extending through the maturity of the debt, the DDTL 5.5 Facility carries an approximate five-year maturity while its underlying customer contracts average approximately three years in length, reflecting lender confidence in long-term GPU demand. The DDTL 5.5 Facility builds on CoreWeave’s continued capital markets momentum and follows the company’s previously announced $3.1 billion DDTL 5.0 facility completed earlier this year, on which Kirkland also advised.
Read CoreWeave’s press release
The Kirkland team included debt finance lawyers Lucas Spivey, Osaro Aifuwa, Tyler Wills and Amber Yokubaitis; corporate lawyers Bill Benitez, Kemal Hawa, Joseph Kunnirickal and Josh Pincus; tax lawyers David Wheat, Joe Tobias and Brooke Schafer; capital markets lawyers Alborz Tolou, Rebecca Cho, Jihao Ding and Christina Aldime; investment funds lawyer Phil Giglio; litigation lawyer Nick Niles; derivatives lawyer Brett Ackerman; and technology & IP transactions lawyers Matthew Lovell and Sarah Alpert.
