TechFlow, Sept 27 — According to Bloomberg, bitcoin mining firm TeraWulf (Nasdaq: WULF) is expected to raise around $3 billion to support the construction of its data centers.
Morgan Stanley is arranging the potential deal for TeraWulf, which could launch as early as October, with financing likely coming through the high-yield bond or leveraged loan markets. Google is expected to provide backstop support for the transaction, a move that may lead to a higher debt rating, with rating agencies expected to assign a credit rating in the range of BB to CCC.
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