Nebius secures $3.5 billion Citi facility for AI infrastructure expansion

Nebius ($NBIS) entered into a $3.5 billion senior secured financing facility with Citi ($C) to support data-center construction, GPU purchases and general corporate needs. The facility has a 364-day maturity and initially carries interest at term SOFR plus 2.75 percentage points, with the margin potentially increasing to 3.50 points under the agreement.

The financing adds liquidity as Nebius builds infrastructure against substantial long-term customer commitments. Management said it complements customer prepayments and operating cash flow while preserving options for other funding, including asset-backed arrangements. The announcement describes available financing rather than confirming that the full amount has been drawn. Its relatively short maturity and floating-rate cost also mean the facility's contribution to expansion must be considered alongside repayment or refinancing requirements.

Sources:

• nebius.com
• Reuters