On October 22, 2026, AI cloud company Nebius Group N.V. announced it entered into a $3.5 billion senior secured financing facility provided by Citi. The Amsterdam-based company stated the funding will support its global capacity expansion.
Financing Terms and Structure
According to company filings, the senior secured facility has a 364-day maturity and initially bears interest at Term SOFR plus 2.75% per annum. The rate can increase up to a maximum of 3.50% per annum, subject to other adjustments.
Citi acted as the mandated lead arranger, agent, and security agent for the transaction.
Use of Proceeds
Nebius stated that the proceeds from the financing will be directed toward data center development and GPU procurement, as well as for general corporate purposes.
Ophir Nave, Chief Operating Officer of Nebius, said the facility provides additional financing to support the company's near-term capacity build-out as part of a diversified and sequenced funding strategy.
Key facts and where they come from
- Nebius entered into a $3.5 billion senior secured facility provided by Citi.
entered into a $3.5 billion senior secured facility provided by Citi.
- The facility carries a 364-day maturity.
The facility has a 364-day maturity
- Proceeds will be used for data center development, GPU procurement, and general corporate purposes.
The proceeds will be used for data center development and GPU procurement, as well as for general corporate purposes.