Indeed, that's what's crazy about CoreWeave's bond rate being so high. They're actually paying it?!

CoreWeave pays 9.625%. But someone expected them to not be able to meet that so they sold what debt they had at discount to someone who now effectively gets 16% on amount they paid for.

Still, this means that people would only be willing to loan new money to them at that 16% rate.

Unless they issued the bonds with a call option, yes.