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Technology Stocks : Western Digital (WDC)

WDC 282.49

+8.5%

Feb 6 3:59 PM EST

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To: Jeff Mills who wrote (8727)	2/12/1998 6:46:00 PM
From: Jeff Mills	Read Replies (2) of 11057

This is kind of interesting: IRVINE, Calif., Feb. 12 /PRNewswire/ -- Western Digital Corporation (NYSE:WDC) announced today the pricing of its zero coupon convertible subordinated debentures due 2018, to be sold in a private offering to certain qualified institutional investors. The debentures, priced with a yield to maturity of 5 1/4% and a 25% conversion premium, will result in gross proceeds to the Company of approximately $400 million (excluding the proceeds of any exercise of the over-allotment option). The size of the offering was increased from the previously announced $275 million in response to demand. The offering is expected to close on February 18, 1998.

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