News Formal

Apollo Global leads debt investment in chipmaker Wolfspeed - media

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 66%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

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

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 per cent and can be paid back after three years.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.Source: Reuters

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Five takeaways from the Paris Summit to fix global climate financeThere was no shortage of upbeat pronouncements in the eight-page summary at the end of negotiations. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »