ON Semiconductor Corporation (Nasdaq: ON) has announced that it has drawn down approximately USD 1.17 billion from its revolving credit facility, the company said.
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 USD 1.97 billion revolving line of credit.
ON Semiconductor supplies semiconductor-based solutions, offering a comprehensive portfolio of energy efficient power management, analog, sensors, logic, timing, connectivity, discrete, SoC and custom devices. For more information, visit http://www.onsemi.com.