onsemi Announces Proposed Private Offering of $1.1 Billion of Convertible Senior Notes
ON Semiconductor Corporation (Nasdaq: ON) (“onsemi”) announced today that it intends to offer, subject to market and other conditions, $1.1 billion aggregate principal amount of Convertible Senior Notes due 2029 (the “notes”) in a private offering.
- ON Semiconductor Corporation (Nasdaq: ON) (“onsemi”) announced today that it intends to offer, subject to market and other conditions, $1.1 billion aggregate principal amount of Convertible Senior Notes due 2029 (the “notes”) in a private offering.
- The initial conversion rate and other terms of the notes will be determined by negotiations between onsemi and the initial purchasers of the notes.
- In connection with this offering, onsemi may use cash on hand to repurchase up to $100.0 million of its common stock from purchasers of the notes in this offering.
- If the initial purchasers exercise their option to purchase additional notes, onsemi expects to enter into additional convertible note hedge and warrant transactions.