Applied Digital (APLD) said Wednesday its ComputeCo 2 unit priced a $2.15 billion private placement of senior secured notes maturing in 2031.
The funds will finance the construction of a 200-megawatt artificial intelligence computing campus in Harwood, North Dakota, along with related transaction costs and reserve accounts, the company said.
The financial obligations are backed by unit assets and include a commitment from the parent organization to ensure the facility is finished on time.
The transaction is scheduled to close around March 10, it said.
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