onsemi to repay up to $1.09 billion of term loan B via convertibles

By Wendy Van Sickle

Columbus, Ohio, Feb. 22 – onsemi plans to repay up to $1,086,000,000 of the outstanding debt under its term loan B with proceeds of an offering of $1.1 billion of convertible senior notes due 2029 and cash on hand, according to a news release.

The term loan B accrues interest at a floating rate tied to SOFR, which rate was equal to 6.42% as of Dec, 31, the company reported.

onsemi, formerly known as ON Semiconductor Corp., is a Phoenix-based semiconductor company.

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