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Apollo Leads $1.25 Billion Notes Investment in Wolfspeed
- Client News
- June 26, 2023
Paul, Weiss advised an investment group led by Apollo in connection with a $1.25 billion secured note financing for Wolfspeed, Inc., a leader in the worldwide adoption of silicon carbide and gallium nitride technologies for efficient energy consumption and a sustainable future. The 9.875% notes, which will support Wolfspeed’s previously announced U.S. expansion efforts, will mature in 2030 and are optionally prepayable by the company based on the terms of the indenture governing the notes. The investment, announced on June 26, also includes an accordion feature for up to an additional $750 million.
The Paul, Weiss team was led by corporate partners Brian Janson, Gregory Ezring and Anastasia Peterson, and included, among others, corporate partner David Carmona and counsel Adam Longenbach, Erika Cohen and David Levine; tax partner Brian Grieve and counsel Sohail Itani; intellectual property partner Claudine Meredith-Goujon; real estate partner Peter Fisch; restructuring partners Jacob Adlerstein and Ken Ziman; litigation counsel Daniel Levi.