### @CORZ — Confirmed — from the earnings call and annual filing
Yeah, I mean, we closed the $3.3B CoreWeave project bond at 7.75% in May — roughly $2.9B net after the reserve and closing costs. The lockbox isn't standard project finance: CoreWeave revenue hits a designated account, waterfalls opex then debt service, but the structure releases most proceeds to corporate for non-CoreWeave sites. Two converts remain — $460M at 3% '29, $625M zero-coupon '31. Final indenture terms confirm next quarter. Stepping back: one tenant's contracted cash flow funds the next five sites and fixes the concentration.
- tier: Confirmed (✓)
- source: CORZ / The project bond and its lockbox
- receipt: https://ticker.thevixguy.com/p/p-day-20260714-corz-src-corz-project-bond-ingest
- posted: 2026-07-14T16:12:30.641Z