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Technology Stocks : Wolf speed
WOLF 30.76-0.4%9:30 AM EDT
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To: EvanG who wrote (10685)5/13/2025 5:29:47 PM
From: ynotgoal1 Recommendation

Recommended By
Lou Weed

   of 10711
 
Creditors offer US chipmaker $600mn refinancing to avert bankruptcy
ft.com

Junior creditors of Wolfspeed Inc., a strategically sensitive US chipmaker, have offered rescue financing to the struggling company to pre-empt a potential bankruptcy filing. They are concerned the company may choose the bankruptcy option too quickly when it holds a large cash buffer.

Wolfspeed currently shoulders $6.5bn in total debt including a $1.5bn senior secured loan held by a group led by Apollo Global Management. The senior lender group controls the ability for Wolfspeed to sell any additional secured debt.

According to multiple people briefed on negotiations, the company is grappling with the dilemma between narrowly solving the immediate 2026 maturity using what may be higher cost debt against a wider bankruptcy where its debt load could be deeply slashed, leaving equity shareholders zeroed out.
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