05:25 PM EDT, 08/20/2024 (MT Newswires) -- Core Scientific ( CORZ ) said late Tuesday it has repaid $267 million in debt using a portion of the net proceeds from its recent private offering of convertible notes, a move that reduced borrowing costs.

The company said it repaid $150 million in secured notes, $61 million in an exit facility and $56 million in miner equipment loans with interest rates of up to about 13%, compared with 3% for the new convertible notes.

The remaining $172.8 million of the net proceeds from the offering boosted the company's available cash for site acquisition and other growth initiatives, Core Scientific ( CORZ ) said.

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