Western Digital proposes $1.3B convertible notes offering due 2028

WESTERN DIGITAL CORP

$1.3B aggregate principal amount of convertible senior notes due 2028; option for additional $200M.
Use proceeds to refinance existing 1.50% convertible notes due 2024 and for general corporate purposes.
Will enter into capped call transactions to reduce potential dilution upon conversion of the notes.
Notes offered privately to QIBs under Rule 144A; not registered under Securities Act.

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