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FINWIRES

ON Semiconductor Plans $1.3 Billion Convertible Notes Offering

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ON Semiconductor (ON) said Wednesday it plans to offer $1.3 billion of convertible senior notes due 2031 through a private offering to institutional investors.

The firm said it expects to grant initial buyers a 13-day option period to purchase up to an additional $200 million of the notes.

Proceeds will be used among others to fund the convertible note hedge transactions, to repurchase up to $400 million of its own shares, and for general corporate purposes, it said.

Shares were about 2% lower in morning trading.

Price: $100.46, Change: $-2.24, Percent Change: -2.18%

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Canada's Government Bond Auction Sizes May Remain High in Next Months, Says National Bank

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