Amsterdam-headquartered AI cloud company Nebius Group N.V. (Nasdaq: NBIS) announced on 22 October 2026 that it has entered into a USD 3.5 billion senior secured facility provided by Citi, which acted as the mandated lead arranger, agent, and security agent.

Terms of the facility

The facility has a 364-day maturity and initially bears interest at Term SOFR plus 2.75% per annum, with the margin increasing up to a maximum of 3.50% per annum, subject to other adjustments.

The proceeds will be used for data center development and GPU procurement, as well as for general corporate purposes.

Strategic context

According to the company, the facility marks the next step in Nebius's strategy to fund its global capacity build-out on attractive terms, advances a diversified capital structure built on a disciplined balance sheet, and increases flexibility over the timing and structure of longer-term financing intended to fuel growth in 2027 and beyond.

Nebius described the facility as providing access to capital at attractive rates to support its global capacity build-out and as advancing the company's diversified and sequenced funding strategy.

It complements a funding base that includes customer prepayments and operating cash flows with other financing mechanisms, providing flexibility over the timing and structure of further external capital-raising as the company executes on its build-out plans.

Management commentary

Ophir Nave, Chief Operating Officer of Nebius, said the company continues to execute its funding strategy as planned and is pleased to have secured the financing from a leading global financial institution. Nave characterized the deal as a result of the company's disciplined approach to managing its balance sheet to fund its portfolio of projects and said it demonstrates Nebius's ability to choose when and how it raises capital to support its growth.

"Sequencing our financing is how we optimize our long-term cost of capital," Nave said, adding that the facility provides additional financing to support the company's near-term capacity build-out. Nave noted that Nebius still has a range of capital sources available to finance the next phase of growth, including asset-backed financing based on investment-grade customer commitments of more than USD 40 billion in long-term contracts.

About Nebius

Nebius describes itself as the AI cloud company, building a full-stack platform for developers and companies covering data and model training through production deployment.

Founded on in-house technological expertise and operating at scale with a rapidly expanding global footprint, the company serves startups and enterprises building AI products, agents, and services worldwide.

Nebius is listed on Nasdaq under the ticker NBIS and is headquartered in Amsterdam.

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