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ON Semiconductor $200 million seven-year notes talked at 12¾%-13%
By Paul A. Harris
St. Louis, Feb. 24 - Price talk of 12¾%-13% emerged Monday on ON Semiconductor Corp.'s planned $200 million of seven-year senior secured first priority notes (B3/B), according to a syndicate source.
The deal is expected to price Wednesday, the source added.
Salomon Smith Barney and Credit Suisse First Boston are joint bookrunnners on the Rule 144A deal.
Proceeds will be used to prepay a portion of Semiconductor Components' senior bank facilities.
The issuer is a Phoenix-based manufacturer of semiconductors and electronics components.
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