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
$8.5B / A3 / A(low)CoreWeave DDTL 4.0 (Mar 2026): first investment-grade-rated GPU-backed financing; SOFR+2.25% floating / ~5.9% fixed, matures 2032
~15% → ~5.9%CoreWeave DDTL cost-of-capital compression, 2023 (DDTL 1.0 floating) → 2026 (DDTL 4.0 fixed) as the sponsor de-risked