Core Scientific plans to issue $3.3 billion in private placement bonds to repay credit loans

According to market news, Bitcoin mining company Core Scientific disclosed that its wholly-owned subsidiary Core Scientific Finance plans to privately issue a total of $3.3 billion in senior secured notes to qualified institutional buyers, with a maturity date of 2031. The company stated that a portion of the net proceeds will be used to fully repay previously deferred draw term loans under a 364-day credit facility, including accrued interest and related fees.

The notes will be fully guaranteed by five subsidiaries of Core Scientific and secured by a first-priority lien on the majority of the assets of the relevant subsidiaries.