AI Cloud Firm Nebius Secures $3.5 Billion Senior Secured Facility from Citi
Nebius obtains a $3.5 billion short-term senior secured loan from Citi to fund global data center construction and GPU procurement, optimizing its capital structure.
Amsterdam-based AI cloud company Nebius Group N.V. (Nasdaq: NBIS) announced on October 22, 2026, that it has entered into a $3.5 billion senior secured facility provided by Citi. The facility aims to provide access to capital at attractive rates to support the company's global capacity build-out and advance its diversified, sequenced funding strategy.
According to the announcement, the proceeds will be used for data center development and GPU procurement, as well as for general corporate purposes. Citi acted as the mandated lead arranger, agent, and security agent. The facility has a 364-day maturity with an initial interest rate of Term SOFR plus 2.75% per annum, increasing up to a maximum of 3.50% per annum.
Ophir Nave, Chief Operating Officer of Nebius, stated that this financing result reflects the company's disciplined approach to managing its balance sheet, allowing it to choose when and how to raise capital to support growth. He noted that the facility complements a funding base that includes customer prepayments and operating cash flows, providing flexibility over the timing and structure of further external capital-raising.
Notably, Nebius highlighted in its statement that beyond this debt financing, the company retains a range of capital sources to finance the next phase of growth, including asset-backed financing based on investment-grade customer commitments of more than $40 billion in long-term contracts. This indicates Nebius is balancing expansion speed with financial stability by combining different types of capital instruments.