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ON Semiconductor Draws Down $1.17 Billion from its Revolving Credit Facility
Company makes the withdrawal out of abundance of caution to have access to sufficient liquidity in an uncertain macroeconomic environment
PHOENIX, Ariz. – March 24, 2020 – ON Semiconductor Corporation (Nasdaq: ON), today announced that it has drawn down approximately $1.17 billion from its revolving credit facility. The company has no immediate use of the funds, and it has made the withdrawal out of abundance of caution to have access to sufficient liquidity in an uncertain macroeconomic environment. With this withdrawal, the company has made full use of its $1.97 billion revolving line of credit. “The withdrawal of approximately $1.17 billion from our revolving line of credit significantly enhances our liquidity position by adding to approximately $894 million of cash on our balance sheet at the end of the fourth quarter of 2019,” said Bernard Gutmann, chief financial officer and executive vice president of ON Semiconductor. “With a history of prudent and aggressive cost management in the wake of challenging conditions, we are very confident that ON Semiconductor should be able to successfully weather the current macroeconomic challenges.” Follow @onsemi_jp オン・セミコンダクターについて # # # オン・セミコンダクターおよびオン・セミコンダクターのロゴは、Semiconductor Components Industries, LLCの登録商標です。本ドキュメントに記載されている、それ以外のブランド名および製品名はすべて、各所有者の登録商標または商標です。オン・セミコンダクターは、本ニュースリリースで同社Webサイトを参照していますが、Webサイト上の情報はここには記載されていません。 |