[November 17, 2017] |
|
Western Digital Announces Prepayment of €874 Million of Euro Term B Loans
Western Digital (News - Alert) Corporation (NASDAQ: WDC) ("Western Digital"
or the "company") today announced that it made a voluntary prepayment of
its Euro-denominated term B-2 loans in full using cash on hand. This
prepayment of the Euro-denominated term B-2 loans is consistent with the
company's commitment to deleveraging and is expected to generate annual
cash interest savings of approximately $28 million beginning on Nov. 17,
2017, along with approximately $20 million of annual savings related to
hedging costs of the Euro-denominated term B-2 loans.
About Western Digital
Western Digital creates environments for data to thrive. The company is
driving the innovation needed to help customers capture, preserve,
access and transform an ever-increasing diversity of data. Everywhere
data lives, from advanced data centers to mobile sensors to personal
devices, our industry-leading solutions deliver the possibilities of
data. Western Digital® data-centric solutions are marketed under the
G-Technology™, HGST, SanDisk (News - Alert)®, Tegile™, Upthere™ and WD®
brands. Financial and investor information is available on the company's
Investor Relations website at investor.wdc.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements concerning our expected annual interest expense and
hedging cost savings and commitment to deleveraging. 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: uncertainties with respect to
the company's business ventures with Toshiba (News - Alert); volatility in global
economic conditions; 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; and other risks and uncertainties listed in the company's
filings with the Securities and Exchange Commission (the "SEC (News - Alert)"),
including the company's Form 10-Q filed with the SEC on Nov. 7, 2017, to
which your attention is directed. 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, the Western Digital logo, G-Technology, SanDisk,
Tegile, Upthere and WD 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171117005814/en/
[ Back To Mobile World Congress's Homepage ]
|