MICRON TECHNOLOGY,INC. (NASDAQ:MU) Files An 8-K Other Events

ME Staff 8-k
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MICRON TECHNOLOGY,INC. (NASDAQ:MU) Files An 8-K Other Events
Item 8.01. Other Events.

On October12, 2017 and October17, 2017, Micron Technology,Inc., a Delaware corporation (“Micron”), issued notices to redeem its outstanding 7.500% Senior Secured Notes due 2023 (the “2023 Senior Secured Notes”). The redemption of the 2023 Senior Secured Notes will be effected to the terms of the Indenture, dated as of April26, 2016 (the “2023 Senior Secured Note Indenture”), that governs the 2023 Senior Secured Notes. Micron will redeem (i)$437.5 million in aggregate principal amount on November13, 2017 at a price equal to 107.5% of the principal amount thereof, and (ii)$812.5 million in aggregate principal amount on November16, 2017, at a price equal to 50% of the principal amount thereof plus a make-whole premium determined to the terms of the 2023 Senior Secured Note Indenture, plus, in each case, accrued and unpaid interest to, but excluding, such redemption date. As of the date hereof, there is $1,250 million in aggregate principal amount of 2023 Senior Secured Notes outstanding.

Additionally, on October17, 2017, Micron issued a notice to redeem its 5.25% Senior Notes due 2023 (the “2023 Senior Notes”). The redemption of the 2023 Senior Notes will be effected to the terms of the Indenture, dated as of February3, 2015 (the “2023 Senior Note Indenture”) that governs the 2023 Senior Notes. Micron will redeem the 2023 Senior Notes on November16, 2017 at a price equal to 50% of the principal amount thereof, plus a make-whole premium determined to the terms of the 2023 Senior Note Indenture plus accrued and unpaid interest to, but excluding, such redemption date. As of the date hereof, there is $1,000 million in aggregate principal amount of 2023 Senior Notes outstanding.


About MICRON TECHNOLOGY,INC. (NASDAQ:MU)

Micron Technology, Inc. is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.