ON Semiconductor Corporation Stock: Why Onsemi’s $1.3 Billion Debt Deal Matters Now
ON Semiconductor priced $1.3 billion in zero-coupon convertible notes due 2031, with a 52.5% conversion premium, set to close Monday. The company expects $1.28 billion in net proceeds, with $331.9 million allocated for share buybacks. Shares closed Friday at $103.20. The deal follows a quarter with $1.51 billion revenue and a GAAP loss of 8 cents per share.