$1.59B 7% senior secured notes due 2031
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
In June the company closed $1.59 billion of 7% senior secured notes due 2031, repaying a $300 million bridge loan and funding the third Polaris Forge 1 building.
Source (primary)
Applied Digital Ends the Quarter With $36 Billion in Contracted Revenue as AI Moat Widens - Yahoo Finance (-, news_article)
View cached copy (2026-10-12)Live source ↗Archive.org ↗
Quote: “In June, the company closed $1.59 billion of 7% senior secured notes due 2031. The money paid off a $300 million bridge loan and funded the third Polaris Forge 1 building.”
How we checked this
Checked on October 16, 2026. The cited source supports every part of this claim.
The article states that in June the company closed $1.59 billion of 7% senior secured notes due 2031, and that the money paid off a $300 million bridge loan and funded the third Polaris Forge 1 building.
Confirmed in the source:
- Applied Digital closed $1.59 billion of senior secured notes in June
- The notes carry a 7% rate and are due 2031
- The proceeds repaid a $300 million bridge loan
- The proceeds funded the third Polaris Forge 1 building
What we did: Read our cached copy of the publisher (https://finance.yahoo.com/technology/ai/articles/applied-digital-ends-quarter-36-193002231.html) in full (13,480 characters, retrieved October 12, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital Ends the Quarter With $36 Billion in Contracted Revenue as AI Moat Widens - Yahoo Finance
Quote: “In June, the company closed $1.59 billion of 7% senior secured notes due 2031. The money paid off a $300 million bridge loan and funded the third Polaris Forge 1 building.”
confirms Applied Digital: Q1 Revenue Surges 322% To $341.9 Million - Pulse 2.0
Quote: “The company closed $1.59 billion of 7% senior secured notes due 2031 to support development of another 150-megawatt building at Polaris Forge 1 and refinance a $300 million bridge facility.”