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Western Digital grosses $1.88 billion from debt offering

Western Digital Corp. raised gross proceeds of $1.88 billion from an offering of 7.375% senior secured notes due April 1, 2023.

The company plans to use the proceeds for general corporate purposes or working capital, redemption or repayment of debt securities, and acquisitions or investments.

Credit Suisse Group AG, HSBC Holdings PLC, J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., Mitsubishi UFJ Financial Group Inc., Mizuho Financial Group Inc., RBC Europe Ltd. and Sumitomo Mitsui Banking Corp. were the lead underwriters.

Banco Bilbao Vizcaya Argentaria SA, BNP Paribas SA, Fifth Third Bank, Standard Chartered PLC, SunTrust Robinson Humphrey Inc., Bank of Nova Scotia, Toronto-Dominion Bank and U.S. Bancorp also served as underwriters for the offering.