Western Digital Corporation (NASDAQ: WDC) has proposed offerings of USD1.5 billion aggregate principal amount of senior secured notes due 2023 and USD4.1 billion aggregate principal amount of senior unsecured notes due 2024, the company said.
The timing of pricing and terms of the notes are subject to market conditions and other factors.
Western Digital intends to use the proceeds from the proposed offerings, together with the proceeds from other financing transactions, to finance its proposed merger with SanDisk Corporation, refinance indebtedness of Western Digital and SanDisk and pay related fees and expenses. The notes are expected to be issued by Western Digital, and guaranteed, jointly and severally on a senior basis, by certain of Western Digital´s subsidiaries.
The notes and related guarantees have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the benefit of, US persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act.
Western Digital is an industry-leading developer and manufacturer of storage solutions that enable people to create, leverage, experience and preserve data. The company addresses ever-changing market needs by providing a full portfolio of compelling, high-quality storage solutions with effective technology deployment, high efficiency, flexibility and speed.