Core Scientific Inc. said it completed the initial closing of a $500 million 364-day loan facility provided by Morgan Stanley, with an accordion feature that could increase total commitments by up to an additional $500 million, for up to $1.0 billion in total. Borrowings under the facility bear interest at SOFR plus 250 basis points, and proceeds may be used for general corporate purposes related to developing data center assets, including equipment purchases, pre-development costs, real property acquisition, and securing additional energy for data centers.

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