A group of investors led by Apollo Global Management is making a debt investment between $1 billion to $2 billion in chipmaker Wolfspeed to support its expansion in the U.S., media outlets reported on Sunday.
The financing would make $1.25 billion of cash available immediately to Wolfspeed, while another $750 million could be drawn later, Bloomberg News reported.
The report added it was structured as seven-year secured notes carrying a coupon of 9.875% and can be paid back after three years.
The Information reported the deal could be announced in the coming days.
In September last year, Wolfspeed said it will build a multi-billion dollar factory in Chatham County, North Carolina, to make the raw materials used for chips that power things like electric vehicles as demand surges.
Apollo Global Management and Wolfspeed did not immediately respond to requests for comment.
Source : Reuters
Trump embarks on the first visit by a U.S. president to China in nearly a…
The surge in energy prices since March 2026 has revived questions about the pass-through to…
Emissions trading systems have been widely studied globally, but less attention has been paid to…
Given the likelihood of elevated inflation readings, the CPI on Tuesday and PPI on Wednesday.…
Oil rises, stocks fall as Middle East ceasefire falters and Strait of Hormuz remains blocked.…
Trump to visit China this week, to discuss Iran with Xi. Gold fell from a…