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Western Digital Announces Early Results of Cash Tender Offer and Consent Solicitation for 10.500% Senior Unsecured Notes Due 2024
As of
Title of Security | CUSIP Numbers |
Principal Amount
Outstanding |
Principal Amount |
Percent Tendered | ||||||||
10.500% Senior Unsecured Notes due 2024 | 958102 AK1 and U9547K AB9 (unregistered) & 958102 AL9 (registered) |
|
|
81.26% |
Accordingly,
The Tender Offer will expire at
Payment for Notes tendered prior to the Early Tender Deadline is expected to occur on the Initial Settlement Date. Payment for Notes validly tendered after the Early Tender Date and accepted for purchase will be made promptly after the Expiration Date, and is expected to occur on the next business day after the Expiration Date (the "Final Settlement Date"). The Initial Settlement Date and the Final Settlement Date are each referred to as a "Settlement Date."
Subject to the terms and conditions of the Tender Offer, holders of
Notes who validly tendered and did not withdraw their Notes on or prior
to the Early Tender Deadline will be entitled to receive
In addition, holders will also receive on the applicable Settlement Date
accrued and unpaid interest on all of their Notes accepted for purchase
from the last interest payment date on such Notes up to, but excluding,
such Settlement Date. The last interest payment date was
The Tender Offer is conditioned upon the completion of Western Digital's
previously announced concurrent notes offering and receipt of aggregate
proceeds from such offering of at least
BofA Merrill Lynch and J.P. Morgan are acting as Dealer Managers for the
Tender Offer and Solicitation Agents for the Consent Solicitation.
Questions regarding the Tender Offer and Consent Solicitation may be
directed to BofA Merrill Lynch at 1-888-292-0070 (toll-free) or at (980)
388-3636 (collect).
This announcement shall not constitute an offer to purchase or a
solicitation of an offer to sell any securities. The complete terms and
conditions of the Tender Offer and the Consent Solicitation are set
forth in an Offer to Purchase and Consent Solicitation Statement, dated
About
Forward-Looking Statements
This press release contains forward-looking statements, including
statements concerning the tender offer. These forward-looking statements
are based on management's current expectations and are subject to risks
and uncertainties that could cause actual results to differ materially
from those expressed or implied in the forward-looking statements,
including: volatility in global economic conditions; uncertainties with
respect to the company's business ventures with Toshiba; business
conditions and growth in the storage ecosystem; impact of competitive
products and pricing; market acceptance and cost of commodity materials
and specialized product components; actions by competitors; unexpected
advances in competing technologies; the development and introduction of
products based on new technologies and expansion into new data storage
markets; risks associated with acquisitions, mergers and joint ventures;
difficulties or delays in manufacturing; impacts of new tax legislation;
and other risks and uncertainties listed in the company's filings with
the
View source version on businesswire.com: http://www.businesswire.com/news/home/20180213006086/en/
Media Contact:
jim.pascoe@wdc.com
or
Investor
Contact:
robert.blair@wdc.com
Source:
News Provided by Acquire Media