Monday June 13, 2016

WD Announces Results Of Conversions Of SandDisk Convertible Notes And Tender Offer

Western Digitalآ® Corporation and its wholly-owned subsidiary SanDisk Corporation announced today that holders of approximately $996 million, or 99% of the outstanding principal amount, of their 1.5% Convertible Senior Notes due 2017 (the "2017 Notes") and approximately $1,438 million, or 96% of the outstanding principal amount, of their 0.5% Convertible Senior Notes due 2020 (the "2020 Notes" and, together with the 2017 Notes, the "Notes") converted their Notes at the temporarily increased conversion rates that expired on June 9, 2016. In addition, holders of $100,000 principal amount of the 2017 Notes and $2,000 principal amount of the 2020 Notes required SanDisk to purchase their notes at par plus accrued and unpaid interest by tendering their notes pursuant to the terms of the tender offer announced by SanDisk on May 12, 2016. The terms of the tender offer and detail regarding the temporary conversion rates were described in the Schedule TO and attached "Designated Event Company Notice And Offer To Purchase" filed by SanDisk with the Securities and Exchange Commission ("SEC") on May 12, 2016.