SharonAI secures $356M GPU-backed debt facility at 9.95%

SharonAI Holdings Inc. (NASDAQ: SHAZ) has entered into a $356 million senior secured, GPU-backed debt facility priced at a fixed rate of 9.95%, excluding fees, according to a press release from the Australian cloud computing company.

The facility is structured as a special purpose vehicle and secured against GPUs and associated cash flows. Proceeds are intended to fund the deployment of compute infrastructure tied to existing customer contracts. Jarden Australia acted as sole financial adviser and arranger.

Investors in the facility include Goldman Sachs and a group of Australian, Asian, and global private credit funds. The company described the transaction as the first in an expected series of GPU financings tied to a planned build-out of over 68,000 Nvidia GPUs by mid-2027.

With the closing of this facility, SharonAI said it has secured more than $2.6 billion in institutional debt and equity capital over the past 10 months.

"This facility demonstrates how we expect to access debt markets to fund our GPU deployments, leveraging our book of quality customer offtake now standing at a TCV of over $8.8bn," said James Manning, co-founder and chief executive of SharonAI.

The company said the facility is intended to support its compute infrastructure expansion across Australia, New Zealand, and the broader Asia-Pacific region.

You May Also Be Interested In

• Goldman Sachs on Meta Platforms Inc. (META): 'We expect investors to have an initial positive reaction'
• 3D Systems opens 50,000 sq. ft. facility in Littleton, Colorado
• Cushman & Wakefield retires 2028 notes, topping $800M in debt repayment