ON Semiconductor Corporation announced the retirement of $96.2 million in aggregate principal amount of its remaining outstanding Zero Coupon Convertible Senior Subordinated Notes due 2024, Series B (CUSIP No. 682189AE5) (the “Notes”). ON Semiconductor has redeemed approximately $96.2 million in principal amount of the Notes at par using available liquidity.
“We are pleased to announce the retirement of approximately $96.2 million of ON Semiconductor’s Zero Coupon Convertible Senior Subordinated Notes,” said Donald Colvin, ON Semiconductor executive vice president and CFO. “With this redemption, ON Semiconductor will eliminate future potential share dilution associated with the Notes.”
ON Semiconductor is a premier supplier of high performance, silicon solutions for energy efficient electronics. The company’s broad portfolio of power and signal management, logic, discrete and custom devices helps customers effectively solve their design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. ON Semiconductor operates a world-class, value-added supply chain and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com.