Western Digital prepays €874 million of term B-2 loans

By Wendy Van Sickle

Columbus, Ohio, Nov. 17 – Western Digital Corp. made a voluntary prepayment of €874 million of its euro-denominated term B-2 loans in full using cash on hand, the company said in a press release on Friday.

This company said the prepayment is consistent its commitment to deleveraging and is expected to generate annual cash interest savings of about $28 million beginning on Nov. 17, along with about $20 million of annual savings related to hedging costs.

Western Digital is an Irvine, Calif.-based developer and manufacturer of storage solutions that enable people to create, manage, experience and preserve digital content.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.