Western Digital Announces Pricing of $2.3 Billion of Senior Notes Due 2026 and $1.0 Billion of Convertible Senior Notes Due 2024
Western Digital Corporation (WDC)
Last western digital corporation earnings: 4/30 04:01 pm
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Source: Business Wire
SAN JOSE, Calif.--(BUSINESS WIRE)-- Western Digital Corporation (NASDAQ: WDC) (“Western Digital” or the “company”) today announced that it has priced its concurrent offerings of $2.3 billion aggregate principal amount of senior unsecured notes due 2026 (the “2026 notes”) and $1.0 billion aggregate principal amount of convertible senior notes due 2024 (the “2024 convertible notes” and, together with the 2026 notes, the “notes”). The notes will be issued by Western Digital, and guaranteed, jointly and severally on a senior basis, by certain of Western Digital’s subsidiaries. The 2026 notes were offered in a public offering, and will bear interest at a rate of 4.750% per annum. Western Digital intends to use the net proceeds of the 2026 notes offering, together with available cash on hand, to fund its concurrent cash tender (the “tender offer”) to purchase any and all of its currently outstanding 10.500% senior
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