CleanSpark Secures $2.276 Billion Financing for Sandersville AI Campus
Data center operator CleanSpark has priced a $2.276 billion offering of senior secured notes with a 7.875% coupon, set to close on September 25. The funds will support the development of its Sandersville data-center project in Georgia. Proceeds from the issuance—priced at 98.5% of principal—are expected to generate $2.242 billion before fees and expenses. The notes require approximately $179.2 million annually for interest payments, with an effective yield higher than the stated coupon due to being issued below par. The project involves a long-term lease agreement with Meta-owned Anviran covering 175 MW of IT load over 20 years and includes guaranteed rent and operating expenses by Meta. CleanSpark expects construction completion in March 2028, with operations beginning November 30, 2027. The project is expected to generate $6.6 billion in base-term payments during the lease period.
Topics: data center development debt financing real estate investment