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Get filing alertsMicron retires $4.3B of senior notes via tender offers at 4.8%-8.0% premiums
Filed April 1, 2026 · Period ending March 31, 2026 · ~1 min read
Key Changes
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high
Micron accepted $4.3B principal across six note series (73.7%-85.4% of each), paying $1,048-$1,080 per $1,000 face value, settling April 3, 2026.
Exhibit 99.2 view on EDGAR → -
high
Tender offers covered notes with 5.3%-6.05% coupons maturing 2031-2035, totaling $5.4B outstanding before the offers.
Exhibit 99.1 view on EDGAR → -
medium
Offers launched March 25, priced March 31, and expired April 1, 2026; noteholders received stated consideration plus accrued interest.
Item 8.01 — Other Events verify on EDGAR →
Summary
Micron completed voluntary cash tender offers to repurchase $4.3 billion of senior notes across six series with coupon rates between 5.3% and 6.05% and maturities from 2031 to 2035. The company paid premiums ranging from 4.8% to 8.0% above par value, with acceptance rates between 73.7% and 85.4% of each series' outstanding principal. Settlement occurred April 3, 2026.
This represents a proactive debt management action to reduce Micron's interest expense and outstanding obligations. The company retired approximately 80% of the $5.4 billion targeted, paying above-market prices to incentivize participation. For holders who tendered, the premiums provided immediate liquidity at favorable terms. The transaction reduces Micron's debt service burden on notes carrying relatively high fixed rates in the current environment.
Section-by-Section Diff
Event · Exhibit 99.1
Micron priced tender offers for $5.4B of senior notes due 2031-2035, paying premiums of 4.8% to 8.0% above par.
Added in current filing · view on EDGAR →
Title of Security CUSIP/ISIN
Numbers Principal
Amount | Outstanding | Reference | U.S. | Treasury | Security | Bloomberg
Reference | Page | Fixed | Spread (basis points) | Reference | Yield | Par | Call Date | Notes | Consideration Per $1,000 Principal Amount of Notes Validly Tendered
5.300% Senior Notes due 2031 595112CD3 /
US595112CD31
$1,000,000,000 | 0.875% UST due November 15, 2030 | FIT 6
20 | 3.944% | November 15, 2030 | $ 1,048.11
5.650% Senior Notes due 2032 595112CG6 /
US595112CG61 | $500,000,000 | 3.500% UST due February 28, 2031 | FIT 1
60 | 3.939% | September 1, 2032 | $ 1,061.22
5.875% Senior Notes due 2033 595112BZ5 /
US595112BZ51 | $750,000,000 | 4.125% UST due February 15, 2036 | FIT 1
30 | 4.319% | November 9, 2032 | $ 1,070.75
5.875% Senior Notes due 2033
595112CB7 /
US595112CB74 | $900,000,000 | 4.125% UST due February 15, 2036 | FIT 1
40 | 4.319% | June 15, 2033 | $ 1,069.91
5.800% Senior Notes due 2035
595112CE1 /
US595112CE14 | $1,000,000,000 | 4.125% UST due February 15, 2036 | FIT 1
55 | 4.319% | October 15, 2034 | $ 1,064.35
6.050% Senior Notes due 2035
595112CH4 /
US595112CH45 | $1,250,000,000 | 4.125% UST due February 15, 2036 | FIT 1
65 | 4.319% | August 1, 2035 | $ 1,079.93
Micron announced pricing for cash tender offers covering six series of senior notes totaling $5.4 billion in principal. The company will pay between $1,048.11 and $1,079.93 per $1,000 principal amount, representing premiums of 4.8% to 8.0% above par. The tender offers expire March 31, 2026 at 5:00 p.m. New York time, with settlement expected April 3, 2026.
Added in current filing · view on EDGAR →
The Tender Offers will expire at 5:00 p.m., New York City time, on March 31, 2026, unless extended or earlier terminated as described in the offer to purchase (such time and date, as they may be extended, the “Expiration Time”). ... Holders of the notes who validly tender (and do not validly withdraw) their notes prior to the Expiration Time, or who deliver to the tender agent and information agent a properly completed and duly executed notice of guaranteed delivery in accordance with the instructions described in the offer to purchase, will be eligible to receive the Notes Consideration, plus any accrued and unpaid interest up to, but not including, the settlement date, which is expected to occur on April 3, 2026. Tendered notes may be withdrawn at any time at or prior to the Expiration Time.
Noteholders who tender by the March 31, 2026 expiration time will receive the stated consideration plus accrued interest through the April 3, 2026 settlement date. Notes can be withdrawn at any time before expiration. The offers are not conditioned on a minimum tender amount but are subject to certain other conditions.
Event · Exhibit 99.2
Micron completed tender offers for $5.4B of senior notes due 2031-2035, accepting 73.7% to 85.4% of each series for payment on April 3, 2026.
Added in current filing · view on EDGAR →
As of the Expiration Time, the aggregate principal amount of each series of notes set forth in the table below has been validly tendered in the Tender Offers. ... Title of Security CUSIP/ISIN | Numbers | Principal Amount | Outstanding
Prior to the Tender Offers Aggregate Principal Amount
Tendered as of the
Expiration Time Aggregate Principal Amount
Subject to Guaranteed Delivery
Procedures
5.300% Senior Notes due 2031 595112CD3 /
US595112CD31 | $1,000,000,000 | $737,097,000 | $47,229,000
5.650% Senior Notes due 2032 595112CG6 /
US595112CG61 | $500,000,000 | $427,022,000 | $8,307,000
5.875% Senior Notes due 2033 595112BZ5 /
US595112BZ51 | $750,000,000 | $574,035,000 | $6,577,000
5.875% Senior Notes due 2033 595112CB7 /
US595112CB74 | $900,000,000 | $684,841,000 | $45,516,000
5.800% Senior Notes due 2035 595112CE1 /
US595112CE14 | $1,000,000,000 | $862,833,000 | $17,724,000
6.050% Senior Notes due 2035 595112CH4 /
US595112CH45 | $1,250,000,000 | $1,029,483,000 | $14,732,000
Micron's cash tender offers for six series of senior notes expired on March 31, 2026, with acceptance rates ranging from 73.7% ($737.1M of $1.0B) for the 5.300% 2031 notes to 85.4% ($427.0M of $500M) for the 5.650% 2032 notes. The company will accept all validly tendered notes totaling approximately $4.3 billion in aggregate principal amount and expects to settle payment on April 3, 2026. This represents a significant debt reduction across notes with coupon rates between 5.3% and 6.05%.
Added in current filing · view on EDGAR →
Micron expects to accept for payment all notes validly tendered and not withdrawn and expects to make payment for such notes on April 3, 2026.
The company confirmed it will accept all validly tendered notes and settle the transaction on April 3, 2026, two business days after the March 31 expiration. This provides clarity on the timing of the cash outflow and debt reduction on Micron's balance sheet.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify