🇦🇺Blue Owl Capital led $2.4 billion of debt financing for IREN to fund Blackwell Ultra GPUs at its Canadian campus.

A Blue Owl Capital fund led $2.4 billion of debt financing for cloud-computing provider IREN Ltd. The transaction consists of a $1.2 billion senior secured term loan and $1.2 billion of senior secured notes.

Both debt components carry a 9% interest rate and have a two-and-a-half-year term. The source describes the financing as supporting IREN’s purchase of NVIDIA Blackwell Ultra GPUs rather than funding undifferentiated data-center spending.

The compute expansion is associated with IREN’s Mackenzie data-center campus in British Columbia, Canada. The supplied report does not state the number of GPUs being purchased, the resulting megawatts of information-technology load, or a deployment-completion date.