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Western Digital says nearly all convertibles put back to company
New York, Feb. 19 - Western Digital Corp. said holders of nearly all the outstanding zero-coupon convertible subordinated debentures due 2018 issued by its Western Digital Technologies, Inc. subsidiary exercised the put option.
A total of $160.342 million principal amount at maturity of the securities were put back by the time the option expired at 5.00 p.m. ET on Feb. 18.
That leaves $555,000 principal amount at maturity of the convertibles outstanding, the Lake Forest, Calif. disk drive company said.
Western Digital will pay $459.64 in cash per $1,000 principal amount at maturity for the convertibles for a total of $73,699,597.
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