Tenant backstop on Corsicana funding
Company: Riot
The claim, verbatim
If project debt is unavailable on comparable market terms, the tenant will initially fund reimbursements and recover them as rent credits amortized over the remaining term at an implied 12% interest rate.
Source (primary)
[Riot Platforms Q3 2026 Earnings Call] Riot Signs Largest-Ever $28 Billion, 910 MW AI Lease at Corsicana, Targets $2.2 Billion Annual NOI and Says No Equity Needed - finance.biggo.com (-, news_article)
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Quote: “if project debt is unavailable on comparable market terms, the tenant will initially fund reimbursements and recover them as rent credits amortized over the remaining term at an implied 12% interest rate”
How we checked this
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Additional evidence
confirms [Riot Platforms Q3 2026 Earnings Call] Riot Signs Largest-Ever $28 Billion, 910 MW AI Lease at Corsicana, Targets $2.2 Billion Annual NOI and Says No Equity Needed - finance.biggo.com
Quote: “if project debt is unavailable on comparable market terms, the tenant will initially fund reimbursements and recover them as rent credits amortized over the remaining term at an implied 12% interest rate”