$1.07B letter-of-credit sublimit for site development collateral
Company: Hut 8
The claim, verbatim
The facility includes a $1.07 billion letter-of-credit sublimit. It will support collateral requirements for site development, including interconnection deposits and obligations to utilities and equipment vendors, reducing the need to post cash collateral.
Source (primary)
Hut 8 Expands Corporate Liquidity with $1.07 Billion Senior Secured Revolving Credit Facility (-, news_article)
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Quote: “The Facility's $1.07 billion letter-of-credit sublimit supports collateral requirements associated with site development, including interconnection deposits and obligations to utilities and equipment vendors”
How we checked this
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Additional evidence
confirms Hut 8 Expands Corporate Liquidity with $1.07 Billion Senior Secured Revolving Credit Facility
Quote: “The Facility's $1.07 billion letter-of-credit sublimit supports collateral requirements associated with site development, including interconnection deposits and obligations to utilities and equipment vendors”