Wingspire, Iren close $363M equipment finance deal for AI infrastructure
Facility refinances data center hardware, boosts liquidity for Iren
Wingspire Equipment Finance has closed a $363 million equipment finance facility for cloud computing company Iren.
The transaction refinanced recently acquired AI infrastructure hardware, including GPU-based servers and networking equipment deployed in high-density data centers, the companies announced in an Oct. 28 release.
The six-lender transaction was led by Eldridge Capital Management and Silver Point Capital. The asset-backed financing, secured primarily by the equipment and supported by multiyear customer contracts, returned a significant portion of the equipment’s original cost to Iren, providing liquidity the company can redeploy toward continued growth.
Wingspire structured the deal to give Iren greater flexibility while unlocking capital from its deployed AI infrastructure, Dylan Potter, vice president of business development at Wingspire Equipment Finance, stated in the release.
Tustin, Calif.-based Wingspire Equipment Finance, a subsidiary of Wingspire Capital, provides large-ticket financing solutions, focusing on middle-market and private-equity backed companies, according to the release.
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