secwatch.observer — SEC 8-K summary
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Issuer:     ON SEMICONDUCTOR CORP (ON)
CIK:        0001097864
Form:       8-K
Filed at:   2023-02-23T23:59:59+00:00
Accession:  0001193125-23-045012
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

onsemi announces $1.1B convertible senior notes offering due 2029
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- $1.1B aggregate principal amount of Convertible Senior Notes due 2029; initial purchasers may buy up to $165M additional.
- Net proceeds to repay up to $1.086B of Term Loan B Facility (floating rate 6.42% as of Dec 31, 2022).
- Proceeds also used to pay cost of convertible note hedge transactions, partially offset by warrant proceeds.
- Company may repurchase up to $100M of common stock from note purchasers in connection with the offering.
- Notes are senior unsecured, guaranteed by certain subsidiaries, mature March 1, 2029, interest semiannual.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1097864/000119312523045012/0001193125-23-045012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1097864/000119312523045012/d437629d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-045012

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