Nscale signs $331.9m Iceland GPU financing facility
The July 2026 senior facility funds or refinances GPU purchases at Nscale’s Iceland subsidiary, with Macquarie as lead arranger.
Nscale Services Iceland III signed a senior credit facility of up to $331.9 million on 29 July 2026. The agreement allows the subsidiary to fund or refinance part of the purchase price of GPU assets and pay transaction costs and fees.
Macquarie Bank Limited’s London branch acted as mandated lead arranger, facility agent and security agent. The loan carries interest at Term SOFR plus 5.5 percentage points, with a zero floor on the reference rate.
The facility matures 46 months after its first utilisation and requires monthly repayments beginning in January 2027. Its size represents borrowing capacity under the agreement. The financing supports Nscale’s equipment deployment in Iceland as the company expands its AI computing infrastructure.
Use of funds
Fund or refinance GPU asset purchases
Pay financing transaction costs and fees