Apollo Global will provide 4.5 billion pounds ($6.08 billion) in financing to support Britain's long-delayed Hinkley Point nuclear project, the U.S. private capital group said on Friday.

US private equity giant Apollo will provide £4.5bn in debt financing to support the UK’s Hinkley Point nuclear project, in a deal that will help ease financial pressures on the flagship development. The investment grade financing will be provided as unsecured debt at an interest rate just below 7 per cent, people familiar with the matter said.

Apollo, a U.S. asset management group, plans to provide a $6 billion loan to the British nuclear project Hinkley Point C being built by a French multinational electric utility company.