ON Semiconductor prepays $55 million of bank debt

By Sara Rosenberg

New York, Nov. 9 - ON Semiconductor Corp. prepaid about $55 million of its senior secured credit facility, according to a company news release.

The funds for the prepayment came from a six-year sale-leaseback agreement associated with certain manufacturing assets at the company's Gresham, Oregon wafer facility.

ON Semiconductor is a Phoenix-based designer, manufacturer and marketer of power and data management semiconductors and standard semiconductor components.

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