CoreWeave Shops $4B Investment-Grade Loan at 7-7.5%, Half the Yield of Its 14% Junk Bonds

CoreWeave plans to raise at least $4 billion via an investment-grade loan led by Morgan Stanley and Mitsubishi UFJ as soon as next week, after raising its annual sales forecast. The facility, backed by customer contracts with an investment-grade buyer, is expected to yield 7% to 7.5% — roughly half the 14.21%–15.14% yield on CoreWeave's junk-rated unsecured notes — and will fund Nvidia chip purchases. The structure mirrors an $8.5B asset-backed deal CoreWeave closed in March.