CoreWeave Seeks $8.5 Billion Loan From Banks Backed by Meta Deal

Group 1 - CoreWeave Inc. is seeking to raise approximately $8.5 billion from banks, including Morgan Stanley and Mitsubishi UFJ Financial Group, to finance cloud computing capacity for Meta Platforms Inc. [1] - The financing will be supported by a contract between Meta and CoreWeave, which is valued at up to $14.2 billion, along with a separate agreement worth over $5 billion [2] - CoreWeave has significantly increased its borrowing to finance access to high-end AI processors, with an adjusted leverage ratio of about 6.9 times as of September 30 [5] Group 2 - The proposed loan is expected to close in March, with Morgan Stanley and MUFG syndicating the loan to other lenders [6] - The new loan's pricing is being discussed at approximately 2.25 percentage points over the Secured Overnight Financing Rate, translating to an interest rate of roughly 6% [8] - CoreWeave has utilized the delayed-draw term loan structure in three previous facilities, allowing for gradual access to funds [7]