Core Scientific prices $3.3 billion senior secured notes offering

Core Scientific Inc. (NASDAQ: CORZ) announced that its subsidiary Core Scientific Finance I LLC has priced a $3.3 billion offering of 7.750% senior secured notes due 2031. The notes were priced at 99.250% of principal amount in a private offering to qualified institutional buyers.

The offering is expected to close on May 6, 2026, subject to customary closing conditions. The company plans to use net proceeds to fund a debt service reserve account and make a distribution to Core Scientific, which will use a portion to repay outstanding delayed draw term loans under its 364-day credit facility.

The notes will be guaranteed by five Core Scientific subsidiaries: Core Scientific Austin LLC, Core Scientific Denton LLC, Core Scientific Dalton LLC, Core Scientific Marble LLC and Core Scientific Muskogee LLC. The notes will be secured by first-priority liens on substantially all assets of the issuer and guarantor subsidiaries.

Core Scientific will provide a completion guarantee for datacenter development projects in Dalton, Georgia; Denton, Texas; Marble, North Carolina; and Muskogee, Oklahoma. The company will fund the issuer as necessary to ensure timely completion if note proceeds and other available funds prove insufficient.

The notes were sold under Rule 144A to qualified institutional buyers and to non-U.S. persons under Regulation S. Core Scientific operates as a digital infrastructure provider for high-density colocation services, with facilities across Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas.

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