CoreWeave

Borrower

CoreWeave Financing DDTL V-V, LLC (borrower), an indirect subsidiary of CoreWeave, Inc.; equity held by CW Financing DDTL V-V Holdco, LLC

Seniority

Senior secured; unconditionally guaranteed by CoreWeave, Inc. (parent) under a Parent Guarantee and Pledge Agreement dated 2026-08-07, and by the borrower's subsidiaries under a collateral agreement

Maturity

2031-09-01 — Amortization scaled to fully repay the facility by maturity (PitchBook LCD)

Collateral

Substantially all assets of the borrower and its subsidiaries, plus a pledge of 100% of the equity interests in the borrower held by CW Financing DDTL V-V Holdco, LLC (8-K). Underlying: GPUs and ancillary components under take-or-pay contracts (Anthropic, Jane Street, Midjourney, Hudson River Trading, Anysphere — PitchBook LCD/FT). DSCR >=1.35x, tested from the first full calendar month after the earlier of (a) commitments reduced to zero and (b) 2026-12-31. $112.5M minimum liquidity until 12 months pre-maturity; lockbox in place until half the debt is repaid, and also triggered if the lease rate drops below a threshold (FT term sheet). Events of default include cross-defaults, change of control, bankruptcy, and adverse events with respect to certain material contracts.

Lenders

JPMorgan Chase Bank, N.A. (administrative agent; joint lead arranger, joint bookrunner, syndication agent) · MUFG Bank, Ltd. (joint lead arranger, joint bookrunner, syndication agent) · U.S. Bank Trust Company, N.A. (collateral agent) · U.S. Bank National Association (depositary bank) · Syndicate not named

Pricing

Term SOFR (0.00% floor) + 5.50%; base rate loans at base rate (0.00% floor) + 4.50%, base rate = highest of prime, fed funds effective + 0.50%, one-month Term SOFR + 1.00%. Undrawn fee 0.50% per annum on the average daily undrawn portion, payable monthly in arrears. Spread and floor confirmed by the 8-K. 97 OID and the ~10.44% yield-to-maturity remain press-sourced (PitchBook LCD) — not in the filing.

Terms

Committed $2.6B; drawn balance undisclosed. Draws available in one or more draws until the commitment termination date in December 2026 (8-K). Purpose per the filing: to finance capital expenditures required to perform certain customer contracts, including the acquisition of GPU servers and related infrastructure. Undrawn fee 0.50% per annum on the average daily undrawn portion, payable monthly in arrears.

Source: 8-K, Items 1.01/2.03/7.01 (event 2026-08-07, filed 2026-08-10), acc. 0001769628-26-000357. Credit Agreement filed as EX-10.1; Parent Guarantee and Pledge Agreement as EX-10.2. · document

Seniority

Senior unsecured; guaranteed by CoreWeave Cash Management LLC, CoreWeave Debt HoldCo I, LLC and Weights and Biases, LLC (the Revolving Credit Facility guarantors)

Maturity

2032-07-15

Lenders

144A; U.S. Bank Trust Co. (trustee)

Pricing

Make-whole (Treasury + 50bps, 1% floor) before 2029-07-15; then callable from July 15 at 104.813 (2029), 102.406 (2030), 100.000 (2031 on). 40% equity clawback at 109.625; change-of-control put at 101.

Terms

No filed issue price (the launch release states only the intended $3.5B two-tranche total). 2026 incurrence package: $2,500.0M credit-facility basket plus the greater of $1,000.0M and 25.0% of LTM EBITDA; 6.00:1.00 total-leverage ratio test; covenant suspension on investment-grade status. ~10% effective rate per the Q2 2026 10-Q (rounded).

Source: 8-K 6/18/26 (USD/EUR notes), indenture filed as EX-4.1, acc 0001769628-26-000291; 10-Q Note 10 · document

Seniority

Senior unsecured; guaranteed by CoreWeave Cash Management LLC, CoreWeave Debt HoldCo I, LLC and Weights and Biases, LLC (the Revolving Credit Facility guarantors)

Maturity

2032-07-15

Lenders

U.S. Bank Trust Co. (trustee) · U.S. Bank Europe DAC (registrar and transfer agent; paying agent via the UK branch)

Pricing

Make-whole (Bund Rate + 50bps, 1% floor) before 2029-07-15; then callable from July 15 at 104.250 (2029), 102.125 (2030), 100.000 (2031 on). 40% equity clawback at 108.500; change-of-control put at 101.

Terms

€2,000M (~$2.3B; $2,279M carrying value at 2026-06-30), €100,000 minimum denominations. Listing covenant on The International Stock Exchange; withholding gross-up via an additional-amounts provision. Same 2026 incurrence package as the USD notes: $2,500.0M credit-facility basket, 6.00:1.00 ratio test, investment-grade covenant suspension.

Source: 8-K 6/18/26 (USD/EUR notes), indenture filed as EX-4.3, acc 0001769628-26-000291; 10-Q Note 10 · document

Borrower

CoreWeave Financing DDTL V, LLC (borrower); full CoreWeave, Inc. guarantee with CW Financing DDTL V Holdco, LLC pledge

Seniority

Senior secured (SPV); parent guarantee

Maturity

2031-11-15

Collateral

All borrower assets + 100% equity; filed advance rate 71.42% of funding-date capital expenditures, net of six-year straight-line depreciation; GPU servers serve two customer master services agreements, both counterparties redacted in the filing

Lenders

MS Senior Funding (admin) · MUFG (lead) · Morgan Stanley (lead) · U.S. Bank Trust Co. (collateral)

Pricing

Daily SOFR + 4.50% (base rate + 3.50%), 0.00% floor; 0.50% per annum undrawn fee; fees otherwise in unfiled fee letters

Terms

$3.1B committed; drawn balance undisclosed. Availability to 2026-09-30; fixed maturity 2031-11-15. Monthly amortization from commitment termination on a filed percentage schedule (not attached), bullet at maturity. Debt service coverage at or above 1.35:1.00, trailing three months, from the first monthly date after commitment termination. Minimum liquidity is a formula: three months of scheduled interest plus one month of scheduled principal. Call protection declines from the signing date: make-whole (Treasury + 50bps) in year one, 2.00% in year two, 1.00% in year three, none after. Cash trap on a material breach of either of two customer master services agreements (both names redacted) or a parent bankruptcy. 0.50% undrawn fee; upfront fees sit in unfiled fee letters.

Source: 8-K 5/18/26, credit agreement filed as EX-10.1 (redacted) and parent guarantee as EX-10.2, acc 0001769628-26-000236 · document

Seniority

Senior unsecured; guaranteed by CoreWeave Cash Management LLC, CoreWeave Debt HoldCo I, LLC and Weights and Biases, LLC (the Revolving Credit Facility guarantors)

Maturity

2031-10-01

Lenders

144A; U.S. Bank Trust Co. (trustee)

Pricing

Make-whole (Treasury + 50bps, 1% floor) before 2028-10-01; then callable from October 1 at 104.875 (2028), 102.438 (2029), 100.000 (2030 on). 40% equity clawback at 109.750; change-of-control put at 101.

Terms

$1,750M base (2026-04-14) plus a $1,000M add-on issued at 102.000 (2026-04-21, First Supplemental Indenture), one class. Credit-facility basket enlarged against the 2025 indentures: $2,500.0M plus the greater of $1,000.0M and 25.0% of LTM EBITDA; 6.00:1.00 total-leverage ratio test; covenants suspend on investment-grade status. No filed issue price for the base tranche. ~10% effective rate per the Q2 2026 10-Q (rounded).

Source: 8-Ks 4/14/26 (notes + converts, indenture EX-4.1) and 4/21/26 (add-on, First Supplemental Indenture EX-4.1, acc 0001769628-26-000183) · document

Seniority

Senior unsecured; guaranteed by the subsidiaries that guarantee the 2030 notes, the 9.000% 2031 notes and the 2031 converts

Maturity

2032-10-01

Lenders

U.S. Bank Trust Co. (trustee) · Capped-call banks: Scotia, Barclays, Citi, JPM, Mizuho, MS, TD

Pricing

Conversion 8.3612 sh/$1,000 (~$119.60, 30.0% premium over the 2026-04-09 close); capped calls to $230.00 ($492.0M cost)

Terms

Includes the $500M initial purchasers' option, exercised in full; net proceeds $3,940.0M. No redemption before 2029-10-08, then at par only if the stock trades at 130% of the conversion price for 20 of 30 trading days; fundamental-change put at par; settlement in cash, shares or a combination at the issuer's election. Cross-default threshold: the greater of $200M and 5% of LTM EBITDA.

Source: 8-K 4/14/26 (notes + converts), indenture EX-4.3 and capped-call forms EX-10.1/10.2, acc 0001769628-26-000164 · document

Borrower

CoreWeave Compute Acquisition Co. VIII, LLC (borrower); CCAC VIII Holdco LLC pledgor under CoreWeave Debt Holdco I, LLC

Seniority

Senior secured (SPV); non-recourse — the filed limited guarantee covers only five bad-acts categories (fraud, willful misconduct causing material damage, misappropriation of collateral, voluntary bankruptcy, consent to involuntary relief) and never requires the parent to fund equity

Maturity

2032-03-31

Collateral

All CCAC VIII assets + equity; filed advance rate 90% of funding-date capital expenditures, net of six-year straight-line depreciation; ≥95% rate hedging + power hedging required. Anchored by an investment-grade Meta offtake contract (~$19B backlog) — first IG-rated GPU-backed financing (A3 Moody's / A-low DBRS), per CoreWeave release + Bloomberg 2026-03-31; the filed agreement redacts the customer's name.

Lenders

MUFG (admin, coordinating lead arranger) · MS Asset Funding (coordinating lead arranger)

Pricing

Floating tranche daily SOFR + 2.25% (base rate + 1.25%); fixed tranche 2.00% + a blended Treasury margin (WAL 3.14y per filings); 0.00% floor; 0.50% undrawn fee; effective ~7% per filings

Terms

$8.5B committed in two filed tranches: $4,040.8M fixed-rate and $4,459.2M floating-rate; $1,260M drawn 3/31/26; availability to 2027-06-30. Monthly amortization on a filed percentage schedule with site-based mechanics: delayed and stabilized data-center tranches, and top-up draws sized so projected debt service coverage holds at or above 1.20:1.00 through maturity. Maintenance covenant: debt service coverage at or above 1.15:1.00, trailing three months. Minimum liquidity is a formula (three months of scheduled interest, principal, swap settlements and operating expenses; the maximum three-month period after commitment termination) plus a power reserve account whose multiplier is redacted. Cash trap on a qualifying customer-agreement breach or a parent bankruptcy event. 0.50% undrawn fee. Customer and site identities are redacted in the filed agreement.

Source: 8-K 3/31/26, credit agreement filed as EX-10.1 (redacted) and limited guarantee as EX-10.2, acc 0001769628-26-000129; 10-Q · document

Seniority

Senior unsecured; guaranteed by the subsidiaries that guarantee the 9.250% 2030 and 9.000% 2031 notes

Maturity

2031-12-01

Lenders

144A; U.S. Bank Trust Co. (trustee) · Capped-call banks: Wells Fargo, Citi, Barclays, Morgan Stanley, Societe Generale, TD, Goldman Sachs

Pricing

Conversion 9.2764 sh/$1,000 (~$107.80, ~25% premium); capped calls to $215.60 (~$340.0M cost)

Terms

Includes the $337.5M initial purchasers' option, exercised in full; net proceeds ~$2,542.2M. No redemption before 2028-12-05, then at par only if the stock trades at 130% of the conversion price for 20 of 30 trading days; fundamental-change put at par; settlement in cash, shares or a combination at the issuer's election. Cross-default threshold: the greater of $200M and 5% of LTM EBITDA.

Source: 8-K 12/11/25 (converts), indenture EX-4.1 and capped-call forms EX-10.1/10.2, acc 0001769628-25-000105; 10-K · document

Borrower

CCAC IV LLC (incremental tranche to DDTL 2.0)

Seniority

Senior secured (SPV); DDTL 2.0 collateral package

Maturity

2031-03 — Quarterly amortization from Jul 2026

Collateral

DDTL 2.0 collateral package; filed advance rates for this tranche: 90% of Albatross and 75% of OpenAI capital expenditures (both counterparties named in the conformed agreement), net of six-year straight-line depreciation

Lenders

U.S. Bank Trust Co. (admin/collateral) · Lenders party thereto

Pricing

SOFR + 4.25% (base rate + 3.25%), 0.00% floor; 1.50% upfront on draws; one-time 3.00% commitment fee on any shortfall below the $2.4B minimum funded amount; effective ~9% per filings

Terms

$3.0B Fifth Amendment tranche commitments; $3,000M outstanding 3/31/26; minimum funded amount $2.4B, and a shortfall is a fee event, never a default. Availability ran from the Fifth Amendment date to 2026-03-31 (extendable); each draw matures five years from funding. Repayment holds the tranche's contract-coverage ratio at 1.40:1.00. Minimum liquidity the greater of $10M and 1.0% of tranche outstanding. Call protection: make-whole until 30 months after the tranche's commitment termination.

Source: 8-K 10/2/25 (Fifth Amendment, conformed agreement as EX-10.1), acc 0001193125-25-227562; 10-K 3/2/26 debt note · document

Borrower

CCAC V + CCAC VII LLC (borrowers)

Seniority

Senior secured (SPV); parent guarantee of CCAC VII

Maturity

2030-08-21 — Monthly amortization from Apr 2026

Collateral

Substantially all assets plus 100% equity; filed advance rates 80% of capital expenditures at funding and an 85% net-of-depreciation maintenance test (six-year straight-line). GPU servers serve a long-term OpenAI agreement — OpenAI OpCo, LLC is named unredacted in the filed agreement and guarantee.

Lenders

MUFG (admin) · MS Asset Funding + MUFG (JLA/bookrunners) · Goldman Sachs Bank (JLA) · Senior managing agents: JPMorgan, Wells Fargo, BBVA, Credit Agricole CIB; lenders include SMBC, PNC, Societe Generale · U.S. Bank Trust Co. (collateral)

Pricing

Daily SOFR + 4.00% (base rate + 3.00%), 0.00% floor; 0.50% per annum undrawn fee, monthly; effective ~9% per filings

Terms

$2.6B facility; $1,700M outstanding 3/31/26. Availability to 2026-07-28; fixed maturity 2030-08-21. Monthly amortization from April 2026 on a filed percentage schedule (the schedule itself is not attached). Two financial covenants: debt service coverage at or above 1.40:1.00 from 2027-04-30, and a contract realization ratio at or above 0.85:1.00 (billed and received against projected contracted cash flows, trailing three months). Stepped minimum liquidity: $50M to 2025-09, $100M to 2026-03, $175M to 2026-04, $125M to 2026-05, then $100M to 2027-08, $75M to 2028-08, $50M thereafter (the filing misprints two steps as $100,00,000 and $75,00,000). Prepayment carries no premium or penalty, as filed. The parent guarantee covers the initial borrower's obligations only, excludes the co-borrower, and terminates if OpenAI OpCo, LLC achieves a public investment-grade rating from both S&P and Moody's and delivers specified financials.

Source: 8-K 7/31/25, credit agreement filed unredacted as EX-10.1 and parent guarantee as EX-10.2, acc 0001769628-25-000033; First Amendment 8-K 1/2/26 · document

Seniority

Senior unsecured; guaranteed by CoreWeave Cash Management LLC, CoreWeave Debt HoldCo I, LLC and Weights and Biases, LLC (the Revolving Credit Facility guarantors)

Maturity

2031-02-01

Lenders

144A; U.S. Bank Trust Co. (trustee per the filed indenture; the 8-K narrative names Wilmington Trust)

Pricing

Make-whole (Treasury + 50bps, 1% floor) before 2028-02-01; then callable from February 1 at 104.500 (2028), 102.250 (2029), 100.000 (2030 on). 40% equity clawback at 109.000; change-of-control put at 101.

Terms

Issued at par. Same incurrence package as the 2030 notes: 6.00:1.00 total-leverage ratio test, $1,500.0M credit-facility basket plus the greater of $1,000.0M and 25.0% of LTM EBITDA, equal-and-ratable liens covenant, covenant suspension on investment-grade status. ~10% effective rate per the Q2 2026 10-Q (rounded).

Source: 8-K 7/28/25 (closing), indenture filed as EX-4.1, acc 0001193125-25-165924; 10-Q Note 10 · document

Seniority

Senior unsecured; guaranteed by CoreWeave Cash Management LLC and future domestic restricted subsidiaries that guarantee the Revolving Credit Facility

Maturity

2030-06-01

Lenders

144A; Wilmington Trust (trustee)

Pricing

Make-whole (Treasury + 50bps, 1% floor) before 2027-06-01; then callable from June 1 at 104.625 (2027), 102.313 (2028), 100.000 (2029 on). 40% equity clawback at 109.250 before 2027-06-01; change-of-control put at 101.

Terms

Issued at par. Incurrence package: ratio debt permitted at pro forma consolidated total leverage no greater than 6.00:1.00; credit-facility basket of $1,500.0M plus the greater of $1,000.0M and 25.0% of LTM EBITDA; equal-and-ratable liens covenant; covenants suspend permanently on investment-grade status. ~10% effective rate per the Q2 2026 10-Q (rounded).

Source: 8-K 5/28/25 (closing), indenture filed as EX-4.1, acc 0001769628-25-000025; 10-Q Note 10 · document

Seniority

Unsecured

Maturity

2029-01 — +2-yr extension option

Collateral

None; MagAI Ventures reserved-capacity deposit

Lenders

MagAI Ventures / Magnetar Financial

Pricing

Redemption multiplier = 12% annual return

Terms

$281M outstanding 3/31/26; reclassified customer deposit

Source: 10-K; Q1-26 10-Q (deposit Aug 2024; debt-classified Feb 2025) · document

Seniority

Not stated secured

Maturity

<5-yr terms

Collateral

Financed software licenses; vendor unnamed

Lenders

Undisclosed

Pricing

Effective-interest accretion; rate undisclosed

Terms

$358M outstanding + up to $884M optional tranches

Source: 10-K + Q1-26 10-Q · document

Seniority

Setoff; secured by site infrastructure

Maturity

~2038/39 — ~14-yr terms

Collateral

78 MW data-center critical infrastructure; DCSP unnamed

Lenders

Undisclosed DCSP

Pricing

Imputed 15% / 13%

Terms

$114M + $121M (net vs $303M 13% note receivable owed to CRWV)

Source: 10-K + Q1-26 10-Q · document

Seniority

Senior secured

Maturity

2029-11 — November 2029 per the 10-Q; the November 2025 amendment text is not filed.

Collateral

Pledges of certain assets; made fully secured Dec 2024

Lenders

JPMorgan Chase (admin/collateral) · Syndicate

Pricing

Original pricing flat at SOFR + 1.75% (base rate + 0.75%), 0.25% undrawn fee, unchanged through Amendment No. 3; the post-November-2025 grid is not filed. A June 2026 investor presentation (8-K EX-99.2) lists S+175; ~6% effective per the 10-Q.

Terms

Capacity grew $100M (June 2024 agreement) to $650M, then $1.5B with letter-of-credit capacity of $350M (Amendment No. 3, 2025-05-02), then $2.5B with maturity extended to November 2029 (November 2025 amendment; its text is not filed, so capacity and maturity rest on the 10-Q). At 2026-06-30: no borrowings, $533M letters of credit outstanding, $2.0B remaining capacity; $1.2B drawn in August 2026 per the Q2 10-Q subsequent events. Original covenants: total net leverage no greater than 6.00:1.00 (7.00:1.00 for four quarters after a material acquisition) and minimum contracted revenue of $1.0B, each with an equity cure; Amendment No. 3 added a springing 2026-12-30 maturity if former Series C investors' put rights remain in existence without an escrow deposit.

Source: S-1 EX-10.17 (original agreement, unredacted); 8-K 5/6/25 EX-10.1 (Amendment No. 3); 424B4; 10-K/10-Q · document

Borrower

CoreWeave Compute Acquisition Co. IV, LLC (borrower); CoreWeave, Inc. parent guarantee and pledge

Seniority

Senior secured (SPV); parent guarantee

Maturity

2030-08 — Each draw 5-yr; quarterly amortization from Jan 2026

Collateral

CCAC IV equity plus all assets; filed advance rates 90% of investment-grade and 60% of non-IG capital expenditures, net of six-year straight-line GPU depreciation

Lenders

Blackstone credit entities (lead) · Magnetar (lead) · U.S. Bank Trust Co. (admin/collateral)

Pricing

Filed three-tier grid on legacy loans: SOFR + 6.00% (specified investment-grade contracts), + 6.50% (other investment-grade), + 13.00% (non-IG); base rate legs 1% inside each; 0.00% floor. Fifth Amendment tranche draws at SOFR + 4.25% sit on the 2.1 row. Effective ~11% per 10-Q.

Terms

$7.6B facility; $4,425M outstanding 3/31/26; legacy minimum funded amount $6.1B. Per-draw five-year maturities. Quarterly repayment holds each contract-coverage ratio at 1.40:1.00 and loans within the borrowing base; covenants also cap non-IG collateral and non-IG revenue at 0.35:1.00 each. Minimum liquidity 2.0% of outstanding (after the IPO, the greater of $25M and 1.0%). Fees: 2.50% per annum commitment fee on the funding shortfall plus a 1.50% upfront fee on draws. Call protection: make-whole until 30 months after commitment termination. Legacy availability ended at the Fifth Amendment date (2025-09-29). Revenues route through the depositary cash waterfall.

Source: 8-K 10/2/25 — the Fifth Amendment EX-10.1 attaches the full conformed credit agreement (through five amendments), acc 0001193125-25-227562; 10-Q · document

Seniority

Secured (equipment)

Maturity

2026-07 to 2030-07 (staggered)

Collateral

Security interest in the financed equipment; OEMs not named

Lenders

Undisclosed OEMs

Pricing

Per-agreement rates undisclosed; pooled effective ~10% per filings

Terms

$4.7B outstanding 3/31/26; 1–3-yr terms

Source: 10-K + Q1-26 10-Q debt notes · document

Borrower

CoreWeave Compute Acquisition Co. II, LLC (borrower); full CoreWeave, Inc. guarantee and equity pledge

Seniority

Senior secured (SPV); parent guarantee

Maturity

2028-03-28 — Quarterly amortization + balloon

Collateral

First-priority pledge of borrower equity plus substantially all assets (GPU servers financed under customer contracts, counterparties redacted in the filing); revenues route through a depositary cash waterfall at U.S. Bank

Lenders

Blackstone Tactical Opportunities + Imperial Capital (lead arrangers) · Blackstone and Magnetar Financial (lead lenders) · U.S. Bank Trust Co. (admin/collateral); U.S. Bank N.A. (depositary)

Pricing

Originally 3M Term SOFR + 8.75%; First Amendment (2024-05-16) reset to SOFR + 9.6196% (base rate + 8.6196%), 0.00% floor; effective ~15% per 10-Q

Terms

$2.3B facility, fully drawn; $1,438M outstanding 3/31/26. Availability ran to 2024-06-30; maturity the earlier of five years from closing and four years from commitment termination. Quarterly repayment is the greatest of a fixed schedule, the amount holding loans within projected contracted cash flows, and the amount holding loans within the maximum GPU amount (advance percentages redacted in the filed agreement; GPU useful lives 5.5 and 6.5 years, straight-line). Fees: one-time 1.00% commitment fee on the funding shortfall plus a 1.75% upfront fee on each draw. Call protection: make-whole plus 1.00% until the third anniversary of commitment termination, then 1.00% to the fourth. Minimum liquidity was cut by the First Amendment (2024-05-16) from the greater of $50M and 16% of outstanding (capped $325M) to the greater of $18.75M and 4% (capped $56.25M). The parent guarantee and pledge agreement carries its own parent covenants, including a $375M indebtedness basket before the contracted-revenue trigger and a 2.00x consolidated leverage gate.

Source: 424B4 3/31/25; credit agreement + First Amendment filed as S-1 EX-10.8/10.9, parent guarantee EX-10.10-10.12, acc 0001193125-25-044231; Q1-26 10-Q debt note · document