A fixed-yield note that funds a specific tranche of construction — foundation, cleanroom build-out, or tool installation — and pays you a defined interest rate for the duration, regardless of how the fab's long-term equity value moves.
An Infrastructure Note is a fixed-term loan to Terafab Holdings, ring-fenced against a specific construction tranche — for example, "Series II: Cleanroom Fit-Out." You're paid a fixed interest rate on a fixed schedule, the same way a bond works, regardless of whether the fab eventually turns out to be worth more or less than expected. In exchange for that predictability, you don't participate in Terafab's long-term upside the way an Equity Unit holder does.
The 9–13% range reflects the note's term and which construction phase it's funding — earlier, longer, higher-risk phases carry the higher end of the range; shorter notes funding late-stage, lower-risk work like final tool commissioning sit toward the lower end. The exact rate for a given note series is fixed at issuance and shown before you invest.
Principal and any final interest payment are returned in USDT automatically at the note's maturity date. There's no action required on your part, and no automatic rollover — you choose whether to reinvest in a new series.
Purchased in BTC or USDT; principal and interest are always paid out in USDT to avoid your return being affected by BTC price movement during the note's term.