CleanSpark Seeks $2.23 Billion Junk Bond for Meta-Tied Data Center

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Summary · why it matters

CleanSpark Inc. is seeking to borrow roughly $2.23 billion through a junk-bond offering to fund artificial intelligence infrastructure tied to Meta Platforms Inc. The five-year notes will help finance construction of a data center in Sandersville, Georgia, according to a regulatory filing, with Morgan Stanley leading the offering. The Sandersville facility has been fully leased to Anviran LLC, a Meta subsidiary, under a $6.6 billion, 20-year contract, and Meta will serve as the guarantor of rent and operating expenses. It is the first junk-bond offering tied to a Meta data center, according to data compiled by Bloomberg, and the transaction is expected to price on Friday. Data center developers have sold roughly $39 billion of high-yield bonds so far this year, making technology the biggest issuing sector in the market, while Las Vegas-based CleanSpark, which has a market value of roughly $3.29 billion, is among a growing number of public Bitcoin mining companies becoming data-center operators to support artificial intelligence applications. Goldman Sachs Group Inc. and Wells Fargo & Co. are also participating as underwriters.

Impact on stocks 5

Financials▲ · 3 stocks
Morgan Stanley
MS
▲ PositiveCapitalrelevance

Morgan Stanley is leading the $2.23B junk-bond offering for CleanSpark's Meta-tied data center.

Digital Finance & Tokenization▲ · 1 stocks
CleanSpark Inc
CLSK
▲ PositiveCapitalrelevance

CleanSpark is seeking a $2.23B junk-bond offering to fund its Meta-tied Georgia data center, a major financing event for the company.

Artificial Intelligence▲ · 1 stocks
Meta Platforms Inc.
META
▲ PositiveCapitalrelevance

Meta subsidiary Anviran fully leases the Sandersville facility under a $6.6B 20-year contract and Meta guarantees rent and operating expenses.

Theme Impact 5

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