Core Scientific plans to issue $3.3 billion in private debt to repay loans

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Golden Finance reports that Bitcoin mining company Core Scientific disclosed that its wholly owned subsidiary, Core Scientific Finance, plans to privately issue senior secured notes due in 2031, totaling $3.3 billion, to qualified institutional buyers. The company stated that a portion of the net proceeds from the offering will be used to fully repay the deferred draw term loan under the previous 364-day credit arrangement, including accrued interest and related fees. The notes will be fully guaranteed by five subsidiaries of Core Scientific and secured by a first priority lien on the majority of assets of the relevant subsidiaries.

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