Letter-of-credit sublimit for site development collateral
Company: Hut 8
The claim, verbatim
The facility's $1.07 billion letter-of-credit sublimit will support site development collateral requirements, such as interconnection deposits and obligations to utilities and equipment vendors, reducing the need to post cash collateral.
Source (primary)
Twelve lenders back a new credit line for Hut 8 Corp. (HUT). Nothing was drawn at closing. - Stock Titan (-, 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, reducing the need to post cash collateral.”
How we checked this
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Additional evidence
confirms Twelve lenders back a new credit line for Hut 8 Corp. (HUT). Nothing was drawn at closing. - Stock Titan
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, reducing the need to post cash collateral.”