Applied Digital's subsidiary plans to issue $1.59 billion in senior secured bonds due in 2031 through a private placement.


The funds will be used to build the fourth AI data center at the Ellendale campus in North Dakota (ELN-04), adding 150 MW of IT load capacity, and to repay part of bridge loans and related expenses.
Previously, Applied Digital announced a 15-year, 210 MW data center leasing agreement with a U.S. investment-grade mega-scale cloud service provider.
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