Western Digital Corporation announced it has entered into privately negotiated agreements to exchange approximately $858.4 million of its 3.00% Convertible Senior Notes due 2028. The transaction will be settled with a combination of cash and shares of the company's common stock.
Key Details
- Agreement: On June 2, 2026, the company entered into exchange agreements with certain holders of its convertible notes.
- Notes Exchanged: Approximately $858.4 million aggregate principal amount of the 3.00% Convertible Senior Notes due 2028.
- Transaction Terms: Noteholders will receive cash equal to the principal amount plus accrued interest, and a number of common shares for the remaining conversion value of the notes.
- Timeline: The exchange transactions are expected to close on or after June 5, 2026, subject to customary closing conditions.