ON Semiconductor to sell $400 million notes for Fairchild acquisition; roadshow March 7 week

By Paul A. Harris and Sara Rosenberg

Portland, Ore., Feb. 29 – ON Semiconductor Corp. plans to sell $400 million of senior notes as part of the financing for its acquisition of Fairchild Semiconductor International Inc., according to a market source.

A roadshow for the deal, which will be led by Deutsche Bank Securities Inc., BofA Merrill Lynch, HSBC and SMBC Nikko, is expected to begin during the week of March 7.

The financing also includes a $2.4 billion credit facility that is scheduled to launch at a bank meeting on March 3.

Proceeds will be used to help fund the acquisition of Fairchild Semiconductor International for $20.00 per share in an all-cash transaction valued at about $2.4 billion.

Closing is expected in the second quarter.

ON Semiconductor is a Phoenix-based semiconductor company. Fairchild Semiconductor is a San Jose, Calif.-based semiconductor company.

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