ON Semiconductor Commences Exchange Offer

May 12, 2003 by Jeff Shepard

ON Semiconductor Corp. (Phoenix, AZ) announced that it and its wholly owned subsidiary, Semiconductor Components Industries LLC, have commenced an offer to exchange $200 million aggregate principal amount of their registered 12% senior secured notes due 2010 for any and all outstanding unregistered 12% senior secured notes due 2010. The exchange offer commenced on May 12, 2003, and expires at 5:00 p.m. Eastern time on June 11, 2003.