Q3 FY19 Financial Results
Debt Tranches and Interest Rates
Debt
Base Rate
Maturity
Principal Balance
Outstanding as of
3/29/2019 (in millions)
Applicable RatesA
Convertible Debt Due 2020 B
Revolver drawn C, D
Term Loan A-1D
Term Loan B-4D
Convertible Debt Due 2024F
Sr. Unsecured Notes Due 2026G
TOTAL
0.500%
October 15, 2020
35
0.500%
L+150
February 27, 2023
0
3.999%
L+150
February 27, 2023
4,896
3.879%E
L+175
April 29, 2023
2,431
4.249%
1.500%
February 1, 2024
1,100
1.500%
4.750%
February 15, 2026
2,300
4.750%
$ 10,762
3.895%H
A. All-in applicable rates as of March 29, 2019. Applicable spread for Term Loan A-1 and Revolver over LIBOR based on credit ratings as of March 29, 2019.
B. Debt assumed in connection with the acquisition of SanDisk Corporation in May 2016.
C. Revolver capacity: $2.25 billion, none of which was drawn as of March 29, 2019.
D. Term Loan A-1, Term Loan B-4, and Revolver have a LIBOR floor of Obps.
E. Reflects impact of the interest rate swaps that effectively fix LIBOR on $2 billion of floating-rate debt at 2.21% through May 2020 and 2.60% through February 2023.
F. Initial conversion price of $121.91 per share. Notes are callable beginning February 5, 2021.
G. Notes are callable beginning November 15, 2025.
H. Weighted average interest rate, including impact of interest rate swaps, based on principal balances outstanding as of March 29, 2019.
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4/29/19
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