The 3% convertible senior notes are due 2028

Davis Polk acted as special product counsel to the representative of the initial purchasers in connection with a Rule 144A offering by Western Digital Corporation of an aggregate principal amount of $1.6 billion of its 3.00% convertible senior notes due 2028, which included the full exercise of the initial purchasers’ option to purchase an additional $200 million aggregate principal amount of the convertible senior notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into by Western Digital Corporation in connection with the convertible notes offering.

Headquartered in San Jose, California, Western Digital Corporation is a developer, manufacturer and provider of data storage devices and information technology solutions.

The Davis Polk equity derivatives team included partners Mark J. DiFiore and Caitlin L. Wood, counsel Justin Michael and Joseph Luizzi and associates Greg Marchesini, Amy Cheng and Eugenia S. Lee. The tax team included partner Michael Farber and associate Justin Corvino. All members of the Davis Polk team are based in the New York office.