Nebius Group, an Amsterdam-based cloud provider, obtained a $3.5 billion secured credit facility from Citi, announced on October 22, 2026. It will fund data center development, GPU purchases and general corporate purposes. With a 364-day maturity and initial pricing at Term SOFR plus 2.75%, the financing is roughly 4.5 times larger than the $775 million facility arranged in July by a syndicate led by MUFG. Nebius says it has more than $40 billion in long-term contracted revenue from investment-grade customers such as Microsoft and Meta, providing lenders with substantial collateral. The debt allows the company to expand its AI infrastructure without immediately diluting shareholders, but it will need to refinance the short-term borrowing and remains exposed to rising interest rates.
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