February 27, 2018 / 3:47 PM / 8 months ago

BRIEF-Western Digital Announces Extension And Increase Of Term A Loans And Revolving Facility

Feb 27 (Reuters) - Western Digital Corp:

* WESTERN DIGITAL ANNOUNCES CLOSING OF AMENDMENT, EXTENSION AND INCREASE OF TERM A LOANS AND REVOLVING FACILITY, CREDIT AGREEMENT AMENDMENTS AND DEBT REPAYMENTS

* SAYS ‍OBTAINED A NEW $5.022 BILLION TERM LOAN A-1 FACILITY MATURING IN 2023​

* SAYS ‍PROCEEDS OF TERM LOAN A-1 LOANS WERE USED TO SETTLE CO'S $4.022 BILLION TERM LOAN A MATURING IN 2021​

* SAYS ‍ALSO OBTAINED COMMITMENTS FOR A $2.25 BILLION REVOLVING CREDIT FACILITY MATURING 2023​

* SAYS ‍NEW REVOLVING CREDIT FACILITY REPLACED WESTERN DIGITAL'S EXISTING $1.5 BILLION REVOLVING CREDIT FACILITY MATURING IN 2021​

* SAYS ‍BORROWED $500 MILLION UNDER NEW REVOLVING CREDIT FACILITY TO FUND A VOLUNTARY PREPAYMENT OF ITS USD TERM B-3 LOANS​

* SAYS ‍BORROWED $500 MILLION UNDER NEW REVOLVING CREDIT FACILITY TO FUND VOLUNTARY PREPAYMENT OF USD TERM B-3 LOANS​ Source text for Eikon: Further company coverage:

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