// definition
DDTL
Delayed-draw term loan
freshreviewed 0 days ago
Short definition
A term-loan facility whose funds can be drawn later, in one or more advances within an agreed period, subject to contractual conditions. The committed ceiling differs from the amount actually borrowed. Draw timing, fees, maturity and security depend on the transaction.
risk atlas
Knowledge map
Intuition
A commitment to provide funds organises financing; it does not establish the amount already owed or the future cash available to repay it.
Why it matters now
CoreWeave’s DDTL 5.5, documented in August 2026, finances servers and related infrastructure subject to draw conditions. It shows how customer contracts, borrowing availability and debt maturity can follow separate timelines.
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Primary sources
- CoreWeave / SEC, August 7, 2026 8-KDDTL 5.5 availability and maturity; a facility commitment differs from the drawn balance.
- CoreWeave / SEC, DDTL 5.5 agreementDraw conditions, amortisation, prepayment and security; some schedules are redacted.