IREN closes $363 million equipment financing for AI compute assets

IREN Limited (NASDAQ: IREN) and Wingspire Equipment Finance announced the closing of a $363 million equipment financing transaction tied to IREN's AI compute business.

The Equipment Finance Agreement refinanced recently acquired AI compute infrastructure, including GPU-based servers and networking systems deployed in high-density data center environments. Wingspire Equipment Finance completed the transaction with a six-lender group, with anchor commitments from Eldridge Capital Management and Silver Point Capital.

The financing is secured principally by the financed equipment and is supported by multi-year customer contracts. According to the press release, the transaction returned capital to IREN representing a meaningful percentage of the equipment's original cost, converting existing equipment investments into liquidity.

"IREN was looking to unlock capital from deployed AI infrastructure while preserving flexibility around its customer relationships," said Dylan Potter, Vice President of Business Development at Wingspire Equipment Finance.

Wingspire Equipment Finance is the equipment financing arm of Wingspire Capital, a portfolio company of Blue Owl Capital Corporation (NYSE: OBDC). OBDC is externally managed by Blue Owl Credit Advisors LLC, an indirect affiliate of Blue Owl Capital, Inc. (NYSE: OWL).

You May Also Be Interested In

• Ruanyun signs two-year Taiwan marketing deal for HanLink platform
• McGraw Hill to launch Microsoft Copilot plugin for education content
• Liquidity Services adopts Flywire for global B2B payment processing