ON Semiconductor Draws Down $1.17 Billion From Its Revolving Credit Facility
ON Semiconductor Corporation (ON)
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Source: Business Wire
Company makes the withdrawal out of abundance of caution to have access to sufficient liquidity in an uncertain macroeconomic environment PHOENIX--(BUSINESS WIRE)--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 w
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ON
Earnings
- 10/28/24 - Beat
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Sec Filings
- 12/20/24 - Form 4
- 12/18/24 - Form 4
- 12/18/24 - Form 4
- ON's page on the SEC website