Blue Owl Capital Secures $2.4 Billion Financing for Iren Ltd.
Blue Owl Capital Inc. has arranged a $2.4 billion financing package for Iren Ltd. to acquire Nvidia Blackwell Ultra GPUs for its data center campus in Canada. The financing includes a $1.2 billion senior secured term loan and $1.2 billion in senior secured notes, with a 9% interest rate and a maturity of two and a half years.
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Iren Ltd., based in Sydney, plans to use the $2.4 billion financing from Blue Owl Capital Inc. to enhance its data center capabilities at the Mackenzie campus in British Columbia. The financing structure allows Iren to procure equipment in phases and involves participation from Pacific Investment Management Co.
Blue Owl manages $319 billion in assets and has been involved in AI infrastructure projects, including Meta Platforms Inc.'s Hyperion facility in Louisiana. Iren anticipates up to $30 billion in capital expenditures for the fiscal year 2027. The company's stock fell nearly 13% to $35.40 in New York.
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