Convertibles Calendar: Western Digital on deck

Oct. 31

WESTERN DIGITAL CORP.

• $1.3 billion five-year convertible notes

• $200 million greenshoe

• Coupon of 3% to 3.5% and initial conversion premium of 25% to 30%

• Non-callable for three years and then subject to a 130% hurdle

• Rule 144A

• J.P. Morgan Securities LLC

• Proceeds to cover the cost of the call spread, to fund the repurchase of the 1.5% convertible notes due 2024 in privately negotiated transactions, to repay the remaining outstanding amount of the 1.5% notes upon their maturity and for general corporate purposes

• San Jose, Calif.-based data storage solutions company

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