SCT Wolfspeed’s restructuring deal with lenders to reduce debt by 70% and interest payments by 60%
Posted: Mon Jun 23, 2025 9:32 am
As part of its efforts to strengthen its capital structure, Wolfspeed Inc of Durham, NC, USA — which makes silicon carbide (SiC) materials and power semiconductor devices — has entered into a restructuring support agreement (RSA) with key lenders, including (i) holders of more than 97% of its senior secured notes, (ii) Renesas Electronics Corp’s US subsidiary, and (iii) convertible debtholders holding more than 67% of the outstanding convertible notes. The transactions envisioned by the RSA are expected to reduce the firm’s overall debt by about 70% ($4.6bn) and to reduce annual total cash interest payments by about 60%..
Source: https://www.semiconductor-today.com/new ... 0625.shtml
Source: https://www.semiconductor-today.com/new ... 0625.shtml