BUZZ-CoreWeave announces intention to offer senior notes; shares down

Reuters
19 May
BUZZ-CoreWeave announces intention to offer senior notes; shares down

** Shares of Nvidia-backed CoreWeave CRWV.O fall 2.3% to $78.10

** CRWV announces intention to offer $1,500 million of senior notes, the proceeds from which will be used to repay outstanding debt

** CRWV says it is entering new delayed draw term loan facility (DDTL) for up to $2.6 billion

** Co intends to use borrowings under the DDTL facility to fund the purchase and maintenance of certain equipment, hardware, infrastructure and other systems

** Says entry into the DDTL facility and negotiations are subject to uncertainties

** As of last close, CRWV had nearly doubled from its March IPO price

(Reporting by Priyanka.G in Bengaluru)

((priyanka.g@thomsonreuters.com;))

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