Nebius debt maturity schedule — October 15, 2026
Nebius’s largest disclosed debt maturity concentration is in
2030. Reconstructed from the disclosures reviewed as of October 15, 2026. Amounts are
US$ billions, excluding coupon interest.
2030 contains approximately $5.61 billion of convertible principal repayments, plus whatever secured-facility balance remains. The identified convertibles have no scheduled maturities in 2026–2028. Low coupons understate total financing cost because principal accretes above face value.
Maturity amounts include contractual accretion and assume notes remain outstanding until maturity. Conversion, redemption or repurchase can change cash payments; conversion may dilute shareholders. Original principal differs from accounting carrying value.
The June 2025 balances assume completion of the announced August exchanges of $400 million original principal from each of the 2029 and June 2031 tranches into approximately 15.8 million shares in aggregate.
The September 2025 tranches each had $1.58125 billion original principal after option exercise and accrete to 115%. The June 2025 tranches accrete to 120% (2029) and 125% (2031); both March 2026 tranches to 120%; and the August 2026 tranches to 110% (2030) and 125% (2034).
The secured facility announcement does not disclose an amortization schedule or current drawn balance, so its full $775 million commitment is not treated as a balloon repayment.
The 2033 tranche uses the confirmed $1.75 billion issuance. Subsequent exercise of its $262.5 million additional option was not verified. Full exercise would increase original principal to $2.0125 billion and the maturity amount to $2.415 billion.This is a schedule of the identified notes and facility, not a complete reconciliation of consolidated liabilities or lease payments. Figures are rounded.
Sources