According to a Bloomberg report on July 23, sources familiar with the matter revealed that Galaxy Digital Inc. plans to issue approximately $3.5 billion in high-yield bonds for the first time to fund data center projects related to CoreWeave Inc. This also signifies that financing for artificial intelligence infrastructure is further pushing the US credit market towards riskier sectors.
Sources familiar with the matter said Galaxy Digital is pitching the bond offering to investors at a yield of approximately 9%. Morgan Stanley and Goldman Sachs are the underwriters for the offering, which is expected to be priced on Thursday. The sources requested anonymity as the information is not yet public.