An ad hoc group of Wolfspeed convertible bondholders turned to Ducera Partners for advice as the manufacturer of silicon carbide is under pressure to address its upcoming maturities, according to two sources familiar.

The ad hoc group largely consists of holders of the issuer’s USD 750m 0.25% convertible notes due 2028 and USD 1.75bn 1.875% convertible notes due 2029, the sources continued.