ON Semiconductor Completes Redemption of Senior Secured Notes

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PHOENIX, Ariz. – March 11, 2004 – ON Semiconductor (Nasdaq: ONNN) today announced that it has completed the redemption of $70 million outstanding principal amount of its first lien senior secured notes due 2010 and $105 million outstanding principal amount of its second lien senior secured notes due 2008. ON Semiconductor redeemed the senior secured notes pursuant to their respective terms at 112.0 percent of the principal amount plus unpaid and accrued interest up to and including March 10, 2004. The total aggregate redemption price for the first lien senior secured notes due 2010 was approximately $82.5 million, including approximately $4.1 million in accrued interest. The total aggregate redemption price for the second lien senior secured notes due 2008 was approximately $122.0 million, including approximately $4.4 million in accrued interest. As previously disclosed, the company will record a charge related to the prepayment of the senior secured notes of approximately $33.0 million in the first quarter of 2004 which includes $21.0 million of cash redemption premium and a non-cash charge of $12.0 million related to the write-off of debt issuance costs and debt discounts.

About ON Semiconductor
ON Semiconductor (Nasdaq: ONNN) offers an extensive portfolio of power and data management semiconductors and standard semiconductor components that address the design needs of today’s sophisticated electronic products, appliances and automobiles. For more information visit ON Semiconductor’s website at https://www.onsemi.com.

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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 website in this news release, such information on the website is not to be incorporated herein.

About onsemi

onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. With a highly differentiated and innovative product portfolio, onsemi creates intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way in creating a safer, cleaner, and smarter world.

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onsemi and the onsemi logo are 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 website in this news release, information on the website is not to be incorporated herein.

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