ON Semiconductor amendment extends revolver to June 2024

By Wendy Van Sickle

Columbus, Ohio, Sept. 20 – ON Semiconductor Corp. extended the maturity of its revolving credit facility to June 12, 2024 as part of a seventh amendment to its credit agreement dated April 15, 2016 with Deutsche Bank AG, New York Branch as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also provided for a previously announced $500.5 million increase to the company’s term loan B facility, which brought the total term loan B amount to $1.64 billion.

The seven-year term loan B (Baa3/BB) priced at Libor plus 200 basis points.

ON Semiconductor is a Phoenix-based semiconductor company.

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