Micron Technology (MU)

[TREND1]

Micron Technology, Inc. (Nasdaq:MU), (the “Company” or “Micron”) today announced that it has commenced tender offers (the "Tender Offers") to purchase the Company’s senior notes listed in the table below (collectively, the "Notes") for cash in the maximum aggregate principal amount (the “Aggregate Maximum Tender Amount”) that will not result in an Aggregate Purchase Price (as defined below) that exceeds $1,000,000,000. The Company refers to the aggregate amount that all holders of the Notes are entitled to receive, excluding accrued interest, for their Notes that are accepted for purchase by the Company as the “Aggregate Purchase Price”.


The terms and conditions of the Tender Offers are described in the Company’s Offer to Purchase, dated March 27, 2017 (the "Offer to Purchase"), and the related Letter of Transmittal. The Tender Offers are intended to lower the Company’s overall interest expense and decrease leverage. The Tender Offers will be funded by the Company from available cash on hand