JPMorgan, Goldman Price Volta’s $5 Billion AI Loan at 95 Cents

JPMorgan Chase and Goldman Sachs set pricing for a roughly $5 billion loan for Volta Infrastructure Holdings at 95 cents per dollar of principal, with borrowing costs above 11%. The final spread was 6.5 percentage points over the benchmark rate, matching the high end of the range used when the financing launched. The 95-cent price was below the initial range of 97 to 98 cents. The terms include a penalty if Volta repays early. The package launched Oct. 9 as a six-year deal initially sized at $5.012 billion. It included a $1.3 billion first-lien term loan and a $3.712 billion GPU loan. The GPU financing was about $3.7 billion at final pricing.

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