ON Semiconductor to repay some term debt with convertible proceeds

By Sara Rosenberg

New York, Dec. 11 - ON Semiconductor Corp. plans to repay $199.1 million of its senior secured term loan debt using proceeds from a proposed $400 million convertible senior subordinated notes offering, according to a company news release.

Remaining proceeds from the convertibles offering will be used to repurchase up to $230 million of its common stock in privately negotiated transactions and for general corporate purposes.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.