Did you think what Steve said about WDC having to sacrifice opex to help finance SNDK, which could lead to competative improvements for STX made sense, or was just self-serving? I thought the call went well
That would explain why I haven't been able to find any bonds anywhere. I had heard the debt was well under par from some talking head on CNBC, so I assumed it was corp bond deal. Maybe the bank debt trades somewhere. Regardless they would be wise to shore up their balance sheet sooner or later beyond Oprah.
As a put owner I am clinging to the notion that the wise move for WTW is to do a secondary while they have the momentum...also, per Bloomberg article, WTW has a ~150M left on a loan due this April...their debt is trading at distressed levels usually seen only by energy co's and therefore they probably need to ameliorate the bond holders more than their equity holders.