Western Digital Corporation (WDC, Financial) has announced significant amendments to its Amended and Restated Bylaws, as approved by the Board of Directors on March 13, 2025. These changes are effective immediately and aim to enhance the company's governance framework. While specific details of the amendments were not disclosed, they reflect the company's commitment to maintaining robust corporate governance practices.
In addition to the bylaw amendments, Western Digital Corporation has elected to redeem $1.8 billion aggregate principal amount of its 4.750% Senior Notes due 2026. This strategic financial decision involves redeeming the notes at a redemption price equal to 100% of the principal amount, along with any applicable premium and accrued interest up to the redemption date of April 14, 2025. Notably, the applicable premium on the notes to be redeemed is zero, and interest will cease to accrue post-redemption.
Following the completion of this redemption, $500 million aggregate principal amount of the notes will remain outstanding. This move is part of Western Digital's ongoing efforts to optimize its capital structure and manage its debt obligations effectively.
For more detailed insights and updates on Western Digital Corporation's financial strategies and governance enhancements, visit GuruFocus.com.
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