Western Digital Corporation Commences Registered Exchange Offer for Its 10.500% Senior Notes Due 2024
January 06 2017 - 6:49PM
Business Wire
Western Digital Corporation (“Western Digital” or the “Company”)
(NASDAQ: WDC) today announced the commencement of an exchange offer
for all of the outstanding 10.500% Senior Notes due 2024 (the
“Initial Notes”) issued by the Company for an equal principal
amount of new 10.500% Senior Notes due 2024 (the “New Notes”)
issued by the Company that have been registered under the
Securities Act of 1933, as amended (the “Securities Act”). The
exchange offer will commence on Jan. 6, 2017, and expire at 5:00
p.m. Eastern time, on Feb. 6, 2017.
The terms of the New Notes are substantially the same as the
terms of the Initial Notes, except that the offer of the New Notes
is registered under the Securities Act, and the New Notes have no
transfer restrictions, registration rights or rights to additional
interest. This exchange offer is being initiated to fulfill the
Company’s obligations under the registration rights agreement
entered into with the initial purchasers of the Initial Notes.
The Company will accept for exchange any and all Initial Notes
validly tendered and not validly withdrawn prior to the expiration
of the exchange offer at 5:00 p.m. Eastern time, on Feb. 6, 2017,
unless the exchange offer is extended or terminated.
The terms of the exchange offer and other information relating
to the Company are set forth in a prospectus dated Jan. 6, 2017. A
written prospectus providing the terms of the exchange offer may be
obtained from U.S. Bank National Association, which is serving as
the exchange agent for the exchange offer. U.S. Bank National
Association can be contacted at:
U.S. Bank National AssociationGlobal Corporate
Trust Services111 Fillmore Ave. East, EP-MN-WS2NSt. Paul, MN
55107Attention: Specialized FinanceTelephone: (800)
934-6802Facsimile: (651) 466-7372
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the New Notes or any other security
and shall not constitute an offer, solicitation or sale in any
state or jurisdiction in which, or to any persons to whom, such an
offer, solicitation or sale would be unlawful. The exchange offer
is being made only pursuant to the prospectus dated Jan. 6, 2017,
and the related letter of transmittal and only to such persons and
in such jurisdictions as is permitted under applicable law.
About Western Digital
Western Digital is an industry-leading provider of storage
technologies and 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 customer-focused innovation,
high efficiency, flexibility and speed. Our products are marketed
under the HGST, SanDisk and WD brands to OEMs, distributors,
resellers, cloud infrastructure providers and consumers. Financial
and investor information is available on the Company's Investor
Relations website at investor.wdc.com.
Forward-Looking Statements
This press release includes certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
concerning the terms of the exchange offer, the issuance of the New
Notes in exchange for the Initial Notes, and extension or
termination of the exchange offer. These forward-looking statements
include, but are not limited to, plans, objectives, expectations
and intentions and other statements contained in this press release
that are not historical facts, and statements identified by words
such as “will” and variations of such word or words of similar
meaning and the use of future dates. These forward-looking
statements reflect our current views about our plans, intentions,
expectations and strategies, which are based on the information
currently available to us and on assumptions we have made. Although
we believe that our plans, intentions, expectations and strategies
as reflected in or suggested by those forward-looking statements
are reasonable, we can give no assurance that these plans,
intentions, expectations or strategies will be attained or
achieved. Furthermore, actual results may differ materially from
those described in the forward-looking statements and will be
affected by a variety of risks and factors that are beyond our
control including, without limitation, risks and uncertainties
discussed in the Registration Statement on Form S-4 of the Company,
as filed with the U.S. Securities and Exchange Commission (the
“SEC”) and as amended, relating to the exchange offer or in the
Company’s filings with the SEC incorporated by reference into such
registration statement.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date hereof, and the Company
undertakes no obligation to update these forward-looking statements
to reflect subsequent events or circumstances.
Western Digital, WD, the HGST logo, SanDisk and G-Technology are
registered trademarks or trademarks of Western Digital Corporation
or its affiliates in the U.S. and/or other countries. Other
trademarks, registered trademarks, and/or service marks, indicated
or otherwise, are the property of their respective owners.
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version on businesswire.com: http://www.businesswire.com/news/home/20170106005789/en/
Western Digital CorporationBob Blair, 949.672.7834Investor
Relationsrobert.blair@wdc.comorJim Pascoe, 408.717.6999Media
Relationsjim.pascoe@wdc.com
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