Capital Allocation Framework
16
WESTERN DIGITAL CONFIDENTIAL
Debt Capital Structure
Current Cap Table
© 2022 WESTERN DIGITAL CORPORATION OR ITS AFFILIATES ALL RIGHTS RESERVED
Debt Maturity Profile (in billions)
$ 4.0
Rate1
All-in
Rate²
As of July
Maturity
1, 2022
$3.5
Over 80% of debt to mature
in 2026 or later
(in millions)
Convertible Debt Due 20243
1.50%
1.50%
2/1/2024
$ 1,100
$ 3.0
Sr. Unsecured Notes Due 20264
4.75%
4.75%
2/15/2026
2,300
$2.5
$2.4
$2.3
$2.25B Revolver5,6
S+137.5
3.07%
1/7/2027
$2.3
Term Loan A-26
S+137.5
3.74%7
1/7/2027
2,700
$ 2.0
Sr. Unsecured Notes Due 20298
Sr. Unsecured Notes Due 20329
Total Debt
2.85%
2.85%
2/1/2029
500
$1.5
3.10%
3.10%
3.612%10
2/1/2032
500
$1.2
$ 7,100
$ 1.0
$1.1
$0.5
$0.5
$0.5
$-
$0.2
$0.1
$0.1
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Term Loan A-2 Convertible Notes Sr. Unsecured Notes
123456780)
1. S Adjusted Term SOFR
2.
3.
All-in applicable rates as of July 1, 2022. Applicable spread for Term Loan A-2 and Revolver over SOFR plus 0.10% based on credit ratings as of July 1, 2022
Initial conversion price of $121.91 per share. Notes became callable on February 5, 2021
4.
Notes are callable beginning November 15, 2025
5.
Revolver capacity: $2.25 billion, none of which was drawn as of July 1, 2022
6.
Term Loan A-2 and Revolver have a SOFR floor of Obps
7.
8.
Reflects impact of the interest rate swaps that effectively fix SOFR on $2 billion of floating-rate debt at 2.50% through February 2023
Notes are callable beginning December 1, 2028
9.
Notes are callable beginning November 1, 2031
10. Weighted average interest rate, including impact of interest rate swaps, based on principal balances outstanding as of July 1, 2022View entire presentation