🇳🇴AI-cloud startup Volta’s $5 billion loan sold at 95% of face value, carrying interest 6.5 percentage points above benchmark.

JPMorgan and Goldman Sachs completed the sale of Volta Infrastructure Holdings Ltd.’s $5 billion leveraged loan on Thursday, according to the report citing people familiar with the transaction. Marketing began the previous week, and the banks increased the return offered to investors and revised the financing terms.

The loan was priced at 95 cents per dollar of face value, with a spread of 6.5 percentage points above its benchmark. The report says the resulting yield exceeded the banks’ earlier estimate of 11%; the spread, issue price, and yield are distinct measures, not interchangeable interest-rate figures.

Additional investor protections included a penalty for early repayment, although the report does not specify its amount or duration. No maturity, named benchmark, collateral package, or detailed covenants are provided in the supplied source.

Proceeds are intended to finance a data-center campus in Norway operated jointly by Volta Infrastructure and Bitdeer Technologies Group, a bitcoin-mining and data-center company. Volta is described as a neocloud renting access to chips and other AI infrastructure; the report establishes a completed loan sale, not completed construction or deployment.