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ON Semiconductor Draws Down $1.17 Billion from its Revolving Credit Facility  Chinese Japanese

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.”



About ON Semiconductor
ON Semiconductor (Nasdaq: ON) is driving energy efficient electronics innovations that help make the world greener, safer, inclusive and connected. The company has transformed into our customers’ supplier of choice for power, analog, sensor and connectivity solutions. Our superior products help engineers solve their most unique design challenges in automotive, industrial, cloud power, and Internet of Things (IoT) applications.

ON Semiconductor operates a responsive, reliable supply chain and quality programs, and robust ESG programs. Headquartered in Phoenix, Arizona, the company has a global network of manufacturing facilities, sales and marketing offices and engineering centers in its key markets.

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ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its Web site in this news release, such information on the Web site is not to be incorporated herein.

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