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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.
SNDK 210.78-7.1%10:22 AM EST
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To: Sam who wrote (3485)1/29/2018 4:53:15 PM
From: Sam1 Recommendation

Recommended By
JCnieuwenj

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bullet points on the offering from Reuters:

Jan 29 (Reuters) - Western Digital Corp(WDC):

* WESTERN DIGITAL ANNOUNCES PROPOSED OFFERINGS OF $2.3 BILLION OF SENIOR NOTES DUE 2026 AND $1.0 BILLION OF CONVERTIBLE SENIOR NOTES DUE 2024 AND UP TO $500M SHARE REPURCHASE

* WESTERN DIGITAL CORP(WDC) - WESTERN DIGITAL TO RETIRE EXISTING 10.500% SENIOR UNSECURED NOTES DUE 2024 AND 7.375% SENIOR SECURED NOTES DUE 2023

* WESTERN DIGITAL CORP(WDC) - ALSO EXPECTS TO COMMENCE A CASH TENDER TO PURCHASE CURRENTLY OUTSTANDING 10.500% SENIOR UNSECURED NOTES DUE 2024?

* WESTERN DIGITAL CORP(WDC) - PROPOSED OFFERINGS OF $2.3 BILLION OF SENIOR NOTES DUE 2026 AND $1.0 BILLION OF CONVERTIBLE SENIOR NOTES DUE 2024

* WESTERN DIGITAL(WDC)- ON SUCCESSFUL COMPLETION OF THE TRANSACTIONS , EXPECT TO REDUCE TOTAL DEBT OUTSTANDING BY UP TO ABOUT $1 BILLION

* WESTERN DIGITAL-EXPECTS TO REPURCHASE SHARES OF COMMON STOCK CONCURRENTLY WITH 2024 CONVERTIBLE NOTES OFFERING IN PRIVATELY NEGOTIATED TRANSACTIONS

* WESTERN DIGITAL-IN CONNECTION WITH OFFERINGS OF 2026 NOTES, 2024 CONVERTIBLE NOTES, EXPECTS TO OBTAIN NEW $5.022 BILLION TERM LOAN A-1 FACILITY MATURING 2023

* WESTERN DIGITAL CORP(WDC) - ALSO EXPECTS TO REPURCHASE SHARES AFTER COMPLETION OF 2024 CONVERTIBLE NOTES OFFERING WITH AVAILABLE CASH ON HAND

* WESTERN DIGITAL CORP(WDC) - UNDER CERTAIN CONDITIONS, CO MAY FURTHER INCREASE SIZE OF NEW TERM LOAN A-1 FACILITY BY UP TO AN ADDITIONAL $1.0 BILLION Source text for Eikon: Further company coverage:
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