Lambda closes $926 million senior secured term loan B facility, backing GPU deployment for an investment-grade customer

Lambda announced the closing of a $926 million senior secured term loan B facility to purchase and deploy GPU infrastructure for a committed investment-grade customer. The asset-backed financing, rated Baa2 by Moody’s, is secured by the funded GPU servers, related infrastructure, and their generated cash flows, with a fully amortizing maturity date of December 31, 2030. Priced at SOFR plus 3.00% and issued at 99.5% of principal, the facility is Lambda’s first large-scale private cloud GPU asset-backed SPV financing and follows a separate $1 billion senior secured credit facility announced in May 2026. Lambda said it expects to use asset-backed financing alongside equity to support expanding multi-year customer contracts and additional GPU capacity, while Morgan Stanley led the transaction with participation from several other financial institutions.

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