Galaxy Digital Locks In 9.875% Coupon on $3.507B Helios Data Center Notes
GLXY sits 50% above its 52-week low of $16.43.
Summary
Galaxy Digital's Helios data center subsidiary priced $3.507 billion in 9.875% senior secured notes due 2031, finalizing terms of the debt offering announced two days ago. The notes will fund a 400 MW Texas data center project, with closing expected July 28.
Key Events · Financing and Capital Events · GLXY
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$3.507B Debt Priced at 9.875%
Galaxy Helios Data Centers II LLC priced $3.507 billion of 9.875% senior secured notes due 2031, with semi-annual interest payments and 4% annual amortization of principal.
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Proceeds for 400 MW Data Center
Net proceeds will finance development and construction of two buildings with 400 MW utility capacity and 260 MW critical IT capacity on a 260-acre site in Dickens County, Texas, plus debt service reserves.
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First-Priority Security Package
Notes are secured by first-priority liens on substantially all assets of the issuer and guarantor, and all equity interests of the issuer held by its direct parent.
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Closing Expected July 28, 2026
The offering is expected to close on July 28, 2026, subject to market and customary conditions.
Analysis · GLXY · Crypto Assets
The Helios subsidiary of Galaxy Digital has priced its massive $3.507 billion debt offering, locking in a 9.875% coupon with 4% annual amortization. Maturing in 2031, the notes are secured by first-priority liens on substantially all assets of the issuer and its guarantor, plus equity interests. Proceeds will fund the 400 MW data center project in Texas — a critical step in Galaxy's AI/HPC infrastructure pivot. The high-yield pricing reflects the project's risk profile but secures long-term, non-dilutive capital at a scale that dwarfs the company's $9.5B market cap. Closing is expected July 28, 2026.
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At the time of this filing, GLXY was trading at $24.59 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $9.5B. The 52-week trading range was $16.43 to $45.92. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.