Latham Advises on Nscale’s US$1.4 Billion GPU Financing

Latham & Watkins has advised key investors and Goldman Sachs & Co. LLC in relation to Nscale’s US$1.4 billion delayed draw term loan (DDTL) backed by GPUs. The oversubscribed GPU DDTL will finance multiple cluster deployments located in Norway, Portugal, Iceland, and the UK.

Latham advised Blue Owl, a lead investor in the GPU DDTL, along with investors including Stonepeak and Neuberger, and Goldman Sachs & Co. LLC in its capacity as sole structuring agent and sole placement agent for Nscale.

The Latham team was led by partners Jennifer Engelhardt, Paul Bonewitz, and Haim Zaltzman, with counsel Clever Gallegos and Benjamin Gelfand, and associates Eric Dang, Chi Emeka Egwuagu, Jack Klein, Jenny Li, Tulika Sinha, and Jing Cao with assistance from Omar Adel and Dorian Refloc’h. Advice was also provided on project finance matters by partner Chirag Dedania, with associates Vivian Hui and Deborah Ogali; on structured finance matters by partners Jeremiah Wagner and Graeme Smyth, with counsel Kamal Dalal, and associates Milan Szvatko and Jason Wong; on data and technology matters by counsel Alain Traill, with associates Jia Hao Clarence Cheong, Edgar Lee, and Sophia Shum; on real estate matters by partner Quentin Gwyer; and on tax matters by partners Karl Mah and Bora Bozkurt, with counsel James Leslie, and associates Ruby Wong and Michael Yu.