The loan is unrated and supported by a six-year compute agreement with Anthropic, a structure that limited access to buyers of traditional collateralized loan obligations. This appetite for higher premiums has appeared across the sector, with CoreWeave's recent $2.6 billion facility pricing at SOFR plus 550 basis points, compared to initial indications of 425 to 450 basis points.
Tuesday, October 20, 2026
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Volta's $5B AI Debt Prices at 11.4% Yield After Banks Limit Risk
AI5 days ago
Lead managers have closed the books on a large-scale debt sale to fund GPU capacity, securing a yield that compensates for elevated sector risks. The financing for Volta Infrastructure’s expansion priced at 11.4% yield to maturity for a total of $5 billion, though JPMorgan and Goldman Sachs restricted their underwriting to a $1.3 billion lease-support loan and left the remaining $3.7 billion tranche as an uncommitted sale.
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