Western Digital announces $1 billion increase in term loan A-1

By Paul A. Harris

Portland, Ore., Jan. 29 – Western Digital Corp. announced in a Monday press release that it plans to increase its term loan A-1 by $1 billion, increasing the size of the loan to $5,022,000,000.

Proceeds will be used to settle the company’s existing term loan A maturing in 2021.

The size of the new loan could increase by a further $1 billion if a concurrent $1 billion offering of convertible notes is not completed.

In addition to the loan and convertibles, the San Jose-based data solutions provider also announced a $2.3 billion notes offer on Monday. The offering is being led by BofA Merrill Lynch and JPMorgan.

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