Western Digital in $1.6 Billion Offering, Related Capped Call Transactions, and Private Repurchases of Existing Notes

Cleary Gottlieb is representing Western Digital Corporation (Western Digital) in its Rule 144A offering of $1.6 billion principal amount of convertible senior notes due 2028 (including $200 million aggregate principal amount of notes issued pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes), a series of related capped call transactions, and concurrent private repurchase transactions in respect of its existing convertible notes.

The note offering launched on October 30, 2023, and priced on October 31, 2023. The note offering, capped call transactions, and private repurchases of existing convertible notes closed on November 3, 2023.

Western Digital is a leading developer, manufacturer, and provider of data storage devices and solutions that address the evolving needs of information technology and the infrastructure that enables the proliferation of data in virtually every industry.