Applied Digital Closes $150 million Senior Secured Note With Macquarie Equipment Capital, Inc. to Refinance Existing Credit Facility With Former Senior Lender
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Applied Digital Corporation has secured a $150 million senior secured debt financing with Macquarie Equipment Capital, Inc. to refinance its existing credit facility with CIM Group. This move removes encumbrances on certain assets and the parent guarantee, with remaining proceeds used to repay other debts and cover transaction costs.
December 02, 2024 | 1:15 pm
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Applied Digital has closed a $150 million financing deal with Macquarie to refinance its existing credit facility, removing asset encumbrances and the parent guarantee.
The refinancing deal with Macquarie allows Applied Digital to remove encumbrances on its assets and the parent guarantee, which is a positive financial restructuring move. This can improve the company's financial stability and flexibility, likely having a positive short-term impact on its stock price.
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