Core Scientific Closes $1 Billion Strategic Financing Facility With Morgan Stanley, J.P. Morgan
Washington, DC – March 23, 2026 – Cooley advised Core Scientific, a leader in digital infrastructure for high-density colocation, on a $1 billion 364-day loan facility with Morgan Stanley and JPMorgan Chase Bank. The facility closed in two $500 million commitments, the first provided by Morgan Stanley and the second provided by J.P. Morgan under the facility’s accordion feature. Borrowings under the facility bear interest at a rate of the Secured Overnight Financing Rate plus 250 basis points (2.50%).
Lawyers Matthew Scarano, Adam Longenbach and Michael Tollini led the Cooley team advising Core Scientific.
Cooley previously advised Core Scientific on its $625 million convertible senior notes in December 2024 and its merger agreement with special purpose acquisition company Power & Digital Infrastructure Acquisition Corp. in August 2021.
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