Debt (Tables)

3 Months Ended

Sep. 30, 2026

The total debt obligations are as follows:


(in USD millions)	Maturities	Effective Interest Rates	September 30, 2026		June 30, 2026
Recourse debt
2030 Convertible Notes	June 15, 2030	3.87%	$	212	$	212
2029 Convertible Notes	December 15, 2029	4.22%	233		233
2031 Convertible Notes	July 1, 2031	0.37%	1,000		1,000
2032 Convertible Notes	June 1, 2032	0.45%	1,150		1,150
2033 (Jun) Convertible Notes	June 1, 2033	1.18%	1,150		1,150
2033 (Dec) Convertible Notes	December 1, 2033	1.18%	3,000		3,000
GPU Financing 2.0	May 31, 2029	10.70%	947		—
GPU Financing 3.0	August 31, 2029	10.38%	355		—
Other debt	2027 - 2029	Various	14		22
Total recourse debt			8,061		6,768

Non-recourse debt
DDTL Facility	December 31, 2031	7.22%	409		413
USPP Senior Notes	December 31, 2031	7.09%	1,571		525
Total non-recourse debt			1,980		938

Total principal of debt			10,041		7,706
Less: unamortized issuance costs			(144)		(113)
Total debt, net of unamortized issuance costs			9,897		7,593
Less: debt, current			(950)		(169)
Debt, non-current			$	8,947	$	7,424

Schedule of Future Principal Payments of Long-Term Debt

As of September 30, 2026, the future principal payments for the Group's total debt were as follows:


(in USD millions)	Total
Remainder of Financial Year 2027	$	723
Financial Year 2028	1,059
Financial Year 2029	821
Financial Year 2030	733
Financial Year 2031	274
Thereafter	6,431
Total	$	10,041

Schedule of Interest Expense For Group’s Debt Obligations

The total interest expense for the Group’s debt obligations was as follows:


	Three Months Ended September 30,
(in USD millions)	2026		2025
Contractual interest expense	$	48	$	8
Amortization of debt issuance costs	8		1
Total	$	56	$	10

Schedule of Debt Instruments

During the three months ended September 30, 2026, the Group entered into the following debt instruments:


(in USD millions)	Issuance date	Stated interest rate	Principal amount1
GPU Financing 2.0	August 25, 2026	9.00%	$	2,447
GPU Financing 3.0	August 26, 2026	9.51%	$	363

1 Amounts represent borrowing capacity for each facility.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details