Foundry JV Holdco, LLC

Intel-Brookfield Foundry/Project Cream - Financing

Borrower (s)
Foundry JV Holdco, LLC
Industry
Manufacturing & equipment/Manufacturing
Area of finance
Project & Infrastructure Finance
Region
North America
Countries
United States

Deal Overview

Brookfield and--JV partner and offtaker--Intel signed an agreement to jointly fund two semiconductor fabrication facilities in the US. This JV is split between Brookfield/Intel; the Borrower/SPV in this transaction is fully owned by Brookfield. This financing represents the largest infrastructure...

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Brookfield and--JV partner and offtaker--Intel signed an agreement to jointly fund two semiconductor fabrication facilities in the US. This JV is split between Brookfield/Intel; the Borrower/SPV in this transaction is fully owned by Brookfield. This financing represents the largest infrastructure loan ever in North America.

This first-of-a-kind Semiconductor Co-Investment Program (SCIP) introduces a new funding model to the capital-intensive semiconductor industry. Chip availability has been recognized as an issue of national security. Significant efforts have been made towards reshoring, near-shoring and friend-shoring in light of supply chain shortages exacerbated by the pandemic. Passage of CHIPs Act this summer provides domestic semiconductor firms like Intel with $52 billion in funding.

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Deal Volume
$14.25bn
Financial Close
22 November 2022
Sources
Submitted by participant(s), Proximo article

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Projects

Semiconductor Fabrication Facilities in US

Greenfield
Manufacturing
North America
United States
$30bn