According to media reports on Sunday, a group of investors led by Apollo Global Management (APO.N) is investing between $1 billion and $2 billion in debt in chipmaker Wolfspeed (WOLF.N) to assist its growth in the United States.

According to Bloomberg News, the investment would make $1.25 billion in cash instantly accessible to Wolfspeed, with the option to draw an additional $750 million at a later time.

According to the study, it was set up as seven-year secured notes with a 9.875% coupon that were repayable after three years.

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