NC-1 loan structure: $200M initial + $100M delayed-draw, unfunded
Company: WhiteFiber
The claim, verbatim
The facility has two parts: a $200 million initial term loan and a $100 million delayed-draw facility. Funding depends on project milestones and other conditions, and a mortgage on the data center is required before initial funding. No loans had been funded as of the report date. The loans mature five years after initial funding and are secured by substantially all assets of the borrower and its holding company.
Source (primary)
WhiteFiber Secures $300 Million Five-Year Term Loan Facility for NC-1 Data Center - TradingView (-, news_article)
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Quote: “The facility includes a $200 million initial term loan and a $100 million delayed-draw facility, with funding subject to project milestones and other conditions; no loans had been funded as of the report date.”
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Additional evidence
confirms WhiteFiber Secures $300 Million Five-Year Term Loan Facility for NC-1 Data Center - TradingView
Quote: “The facility includes a $200 million initial term loan and a $100 million delayed-draw facility, with funding subject to project milestones and other conditions; no loans had been funded as of the report date.”