Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.92
ON SEMICONDUCTOR CORP incurred revolving credit of $1.5 billion senior revolving credit facility; $375,000,000 aggregate borrowed on closing date with JPMorgan Chase Bank, N.A., as administrative agent; several lenders party thereto at Term Benchmark Loans plus 1.25%; RFR Loans plus 1.25%; ABR Loans based on prime maturing not specified (revolving credit facility).
- Instrument
- revolving credit
- Principal
- $1.5 billion senior revolving credit facility; $375,000,000 aggregate borrowed on closing date
- Counterparty
- JPMorgan Chase Bank, N.A., as administrative agent; several lenders party thereto
- Rate
- Term Benchmark Loans plus 1.25%; RFR Loans plus 1.25%; ABR Loans based on prime
- Maturity
- not specified (revolving credit facility)
- Event
- incurrence
Exact text from the filing
On June 22, 2023 (the " Closing Date "), ON Semiconductor Corporation (the " Company ") entered into a $1.5 billion senior revolving credit facility (the " Revolvin g Credit Facility "), the terms of which are set forth in a Credit Agreement (the " New Credit A g reement "), dated as of June 22, 2023, by and among the Company, as borrower, the several lenders party thereto (the " Lenders "), JPMorgan Chase Bank, N.A., as administrative agent
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
ON SEMICONDUCTOR CORP terminated Existing Credit Agreement with Deutsche Bank AG New York Branch valued at all of the Company’s and its subsidiaries’ indebtedness under the credit agreement by and among the (effective 2023-06-22).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Deutsche Bank AG New York Branch
- Value
- all of the Company’s and its subsidiaries’ indebtedness under the credit agreement by and among the
- Effective
- 2023-06-22
Exact text from the filing
On the Closing Date, the Company used the Gross Proceeds to (i) refinance, repay and terminate, including discharging and releasing all security and guaranties (subject to the timelines contemplated in the New Credit Agreement) in respect of, all of the Company’s and its subsidiaries’ indebtedness under the credit agreement by and among the Company as borrower, the several lenders from time to time parties thereto, Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent, and the other parties thereto, dated as of April 15, 2016, as amended (the “ Existing Credit Agreement ”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
ON SEMICONDUCTOR CORP entered into New Credit Agreement with JPMorgan Chase Bank, N.A., Bank of America, N.A., Barclays Bank PLC, BMO Capital Markets, Corp., BNP Paribas Securities Corp., Citibank, N.A., Credit Agricole Corporate and Investment Bank, Deutsche Bank Securities, Inc., Goldman Sachs Bank USA, HSBC Securities (USA) N.A., Morgan Stanley Senior Fund valued at $1.5 billion (effective 2023-06-22).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, N.A., Bank of America, N.A., Barclays Bank PLC, BMO Capital Markets, Corp., BNP Paribas Securities Corp., Citibank, N.A., Credit Agricole Corporate and Investment Bank, Deutsche Bank Securities, Inc., Goldman Sachs Bank USA, HSBC Securities (USA) N.A., Morgan Stanley Senior Fund
- Value
- $1.5 billion
- Effective
- 2023-06-22
Exact text from the filing
On June 22, 2023 (the “ Closing Date ”), ON Semiconductor Corporation (the “ Company ”) entered into a $1.5 billion senior revolving credit facility (the “ Revolvin g Credit Facility ”), the terms of which are set forth in a Credit Agreement (the “ New Credit A g reement ”), dated as of June 22, 2023, by and among the Company, as borrower, the several lenders party thereto (the “ Lenders ”), JPMorgan Chase Bank, N.A., as administrative agent (the “ Administrative Agent ”), JPMorgan Chase Bank, N.A., Bank of America, N.A., Barclays Bank PLC, BMO Capital Markets, Corp., BNP Paribas Securities Corp., Citibank, N.A., Credit Agricole Corporate and Investment Bank, Deutsche Bank Securities, Inc., Goldman Sachs Bank USA, HSBC Securities (USA) N.A., Morgan Stanley Senior Funding, Inc., MUFG Bank, LTD, PNC Bank, National Association and Sumitomo Mitsui Banking Corporation, as joint lead arrangers and joint bookrunners, and BMO Capital Markets, as sustainability structuring agent.
View on SEC.gov