CoreWeave's (CRWV) data center partner raised $1.1 billion in junk bonds to fund additional capacity at a Virginia project, Bloomberg reported Wednesday.

The five-year notes priced at 98.5 cents on the dollar to yield 9.25%, about 2.7 percentage points above the average for similarly rated debt, Bloomberg said.

The facility is fully leased to CoreWeave under a 15-year, $2.94 billion contract, with operations expected to begin in 2027-2028, the report said.