Core Scientific Secures $600 Million Senior Secured Credit Facilities
Washington, DC – August 27, 2026 – Cooley advised Core Scientific (Nasdaq: CORZ), a leader in digital infrastructure for high-density colocation, on its $600 million of committed senior secured credit facilities, consisting of a $100 million revolving credit facility and $500 million letter of credit facility. Borrowings under the revolving credit facility will bear interest at either Adjusted Term Secured Overnight Financing Rate plus 1.75% or an alternate base rate plus 0.75%, at the Company’s election. Letters of credit issued under the letter of credit facility will carry an annual fee of 1.75% on outstanding amounts, as well as a 0.125% quarterly fronting fee.
Lawyers Michael Tollini, Adam Longenbach, Matthew Scarano, Winda Fung and Margaret Barreto led the Cooley team advising Core Scientific, with support from Timothy Shapiro and Calvin Lee.
Cooley previously advised Core Scientific on its up to $461 million acquisition of Polaris in May 2026, $3.3 billion senior secured notes offering in April 2026, $1 billion loan facility with Morgan Stanley and JPMorgan Chase Bank in March 2026, $625 million convertible senior notes in December 2024, $460 million convertible senior notes in August 2024 and merger with SPAC Power & Digital Infrastructure Acquisition Corp. in August 2021.
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