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Western Digital repays $3 billion bridge loan agreement entered in May
By Wendy Van Sickle
Columbus, Ohio, July 21 – Western Digital Corp. fully repaid on July 21 the $3 billion outstanding under its bridge loan agreement with JPMorgan Chase Bank, NA as administrative agent, plus accrued interest, according to an 8-K filing with the Securities and Exchange Commission.
The bridge loan agreement was entered May 12 in conjunction with the closing of Western Digital’s acquisition of SanDisk Corp. and was originally set to terminate in 45 days. An amendment extended the agreement to 75 days from the original agreement date.
Western Digital is an Irvine, Calif.-based maker of storage solutions for digital content.
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