Core Scientific plans to issue $3.3 billion in private placement bonds to repay credit loans.

According to Mars Finance, market sources indicate that Bitcoin mining company Core Scientific has disclosed that its wholly-owned subsidiary, Core Scientific Finance, plans to privately issue $3.3 billion in senior secured notes to qualified institutional buyers, with a maturity date of 2031. The company stated that a portion of the net proceeds will be used to fully repay deferred term loans under a previous 364-day credit facility, including accrued interest and related fees. The notes will be fully guaranteed by five Core Scientific subsidiaries and secured by a first-priority lien on the majority of the relevant subsidiaries' assets.