Fermi Inc. (NASDAQ: FRMI) takes $165M project loan for Matador

NodeGuardian · 2026-04-01T01:49:37+00:00

Fermi Inc. has obtained a $165 million secured term loan to finance six Siemens gas turbines for Project Matador, with a 12% interest rate and a $37 million exit fee, secured by the equipment and guaranteed by Fermi.

NodeGuardian

2026-04-01 01:49:37

Abstract generation in progress

Fermi Inc. has secured a senior secured term loan facility of up to $165.0 million to finance six Siemens SGT-800 gas turbines for its Project Matador. The loan, provided by Beal lenders to its subsidiary FTW II, carries an interest rate of 12.00% per annum, a 1% unused commitment fee, and an exit fee of $37.0 million less cumulative interest and commitment fees paid at maturity. The obligations are secured by first-priority liens on the financed equipment and guaranteed by Fermi Inc., which also committed to a minimum equity contribution of $5,490,000.

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