$1.59B 7.000% Senior Secured Notes due 2031
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Closed $1.59B of 7.000% Senior Secured Notes due 2031 via APLD ComputeCo 3 LLC to fund the third 150 MW HPC building at Polaris Forge 1 and repay the $300M bridge facility.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-10-08)Live source ↗
Quote: “Closed $1.59 billion of 7.000% Senior Secured Notes due 2031, issued at par through subsidiary APLD ComputeCo 3 LLC, to fund construction of the third HPC building (150 MW) at Polaris Forge 1 and to repay the $300 million bridge facility”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The press release lists this notes offering, including the issuer subsidiary, the coupon, the maturity and both uses of proceeds, among the quarter's highlights.
Confirmed in the source:
- Applied Digital closed $1.59 billion of 7.000% Senior Secured Notes due 2031
- The notes were issued through subsidiary APLD ComputeCo 3 LLC
- Proceeds are to fund construction of the third HPC building (150 MW) at Polaris Forge 1
- Proceeds are also to repay the $300 million bridge facility
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/163/applied-digital-reports-fiscal-first-quarter-2027-results/) in full (41,009 characters, retrieved October 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “Closed $1.59 billion of 7.000% Senior Secured Notes due 2031, issued at par through subsidiary APLD ComputeCo 3 LLC, to fund construction of the third HPC building (150 MW) at Polaris Forge 1 and to repay the $300 million bridge facility”
confirms Applied Digital Q1 Earnings Miss on Higher Costs, Revenues Beat - Yahoo Finance
Quote: “APLD closed $1.59 billion of 7% senior secured notes due 2031 to fund construction of the third 150 MW HPC building at Polaris Forge 1 and repay the $300 million bridge facility.”
confirms Applied Digital Q1 Earnings Miss on Higher Costs, Revenues Beat - Zacks Investment Research
Quote: “APLD closed $1.59 billion of 7% senior secured notes due 2031 to fund construction of the third 150 MW HPC building at Polaris Forge 1 and repay the $300 million bridge facility”