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(Reuters) -WolfSpeed (Wormy) In the United States, it plans to get acquainted with the reconstruction contract with credit combatures in the United States, this with creditors to at least 70%.
WolfSpeed, in May, in May, the United States has launched a number of financial problems, to deepen the economic uncertainty, which is changing, weakening.
Lendor and Renesas Electronics’s reconstruction contract to the United States, would cause $ 275 million to finance some existing creditors, and will help reduce $ 4.6 billion in debt.
WolfSpeed plans to search for approval in a pre-packed plan, and then goes bankruptcy by the end of the third quarter of the calendar year 2025.
Pre-prepared bankruptcy, companies and creditors re-agree to the Organization Plan before the bankruptcy document and vote for creditors.
The company intends to continue regular operations throughout the reconstruction process.
From March, there were about $ 1.33 billion in cash, about $ 6.5 billion debt obligations.
Last week, Bloomberg News was reported to file a document for pre-prepared bankruptcy. The report said that WolfSpeed will be accepted by the Creditors, including Apollo’s global management.
In 2023, WolfSpeed declared $ 1.25 billion debt financing with the option to increase the United States to $ 2 billion to support the United States expansion.
The company will reduce the high leadership group, as COO as COO as COO as COO as COO as COO as COO as COO as COO as COO as COO as COO as COO as COO as COO as a COO in March.
(Rahha Read Ibrahim and Kanjig Ghosh’s Bengaluru interview; regulation by Rashmi Aich and Mrigank Dhaniwala)
