DDTL · Delayed-Draw Term Loan
A loan committed up front but drawn in stages as construction milestones are hit, matching financing to capital needs.
Current numbers
$2.6B; Term SOFR + 5.50%CoreWeave DDTL 5.5 — published August parent-guaranteed terms
$8.5B facility (initial ~$7.5B borrowing capacity, $8.5B at asset stabilization); SOFR+2.25% floating / ~5.9% fixed; matures March 2032CoreWeave DDTL 4.0 (Mar 2026) — investment-grade rated and non-recourse, against the parent-guaranteed DDTL 5.5 beside it
~15% → ~5.9%CoreWeave DDTL cost-of-capital compression, 2023 (DDTL 1.0 floating) → 2026 (DDTL 4.0 fixed) as the sponsor de-risked