Blue Owl leads $2.4 billion AI infrastructure financing for IREN

Blue Owl Capital Inc. has led a $2.4 billion financing for IREN Limited, to fund the purchase of NVIDIA Accelerated Computing Infrastructure at IREN's Mackenzie data center campus in British Columbia, Canada. The financing, which consists of a $1.2 billion senior secured term loan and $1.2 billion of senior secured notes, will be deployed in tranches over a defined draw period.

IREN plans to use the funds to expand its AI Cloud infrastructure, which includes a development pipeline exceeding 5GW globally. The financing is described as "equipment finance at AI scale," with Blue Owl Capital's investment track record and experience across more than 100 data centers worldwide enabling them to tailor the facility to how AI infrastructure is delivered and deployed.

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