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WDC Announces Successful Repricing of $2.963 Billion of USD Term B Loans

btarunr

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Western Digital Corporation (NASDAQ: WDC) ("Western Digital" or the "company") today announced that it has successfully priced $2.963 billion of new U.S. dollar-denominated term B-3 loans at an interest rate of LIBOR + 2.00%, which priced 75 basis points lower than its previous term B-2 loans issued in March 2017.

This new financing marks the company's third successful repricing of U.S. dollar-denominated term B loans since issuing its original term B loans in connection with its acquisition of SanDisk Corporation in May 2016. In connection with this transaction, Western Digital settled the previous U.S. dollar-denominated term B-2 loans with the proceeds of this new loan. The new financing is expected to generate annual cash interest savings of approximately $22 million beginning on Nov. 8, 2017, resulting from the 75 basis point reduction in interest spread.

The new term loans have the same remaining tenor as the previous U.S. dollar-denominated term B loans and mature on April 29, 2023.

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I don't understand a single word of that. lol. But WD is in trouble if they can't capitalize on the Sandisk purchase and get flash products rolling again.
 
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B Loans, B-2 loans, B-45 loans...
 
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Translation: Western Digital "refinanced," or paid off an expensive loan with a cheaper one.
 

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lol I just joined but it still annoys me that big companies like that are able to get rid of loans but taking out other loans and not really pay any interest.
It's really not any different than a homeowner refinancing their mortgage to another at a lower rate.

Edit: Also, holy thread necro batman! You know this was over 2 years ago, right?
 

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lol I just joined but it still annoys me that big companies like that are able to get rid of loans but taking out other loans and not really pay any interest.
Consumers can do it. Why not Corporations?
 
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Lol he edited it to include loan spam. Or at least, appears that way.
 
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Who edited what? There's no edit on the OP.
 
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