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Apollo closing in on $11bn Intel credit deal

Apollo Global Management is in advanced discussions with Intel over a deal to provide more than $11bn in capital to finance the chip manufacturer’s construction of a new plant in Ireland, according to a report by the Wall Street Journal.

The report cites unnamed people familiar with the matter in confirming that an agreement could be reached as early as the next few weeks although nothing has been finalised at this point and the deal could yet fail to progress.

Other alternative investment firms including KKR and infrastructure investor Stonepeak have been in the running to provide finance for the project, although Apollo’s capital solutions business, which typically provides financing to large investment-grade companies, is now the front-runner.

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