Micron Technology Inc. (NASDAQ: MU) announced it has commenced cash tender offers to purchase all outstanding notes across six series of senior debt securities totaling $5.4 billion in principal amount.

The memory chip manufacturer is offering to buy back notes with interest rates ranging from 5.300% to 6.050% and maturity dates between 2031 and 2035. The largest offering targets $1.25 billion of 6.050% senior notes due 2035, followed by $1 billion each of 5.300% notes due 2031 and 5.800% notes due 2035.

The tender offers will expire at 5:00 p.m. New York time on March 31, 2026, unless extended or terminated earlier. Settlement is expected to occur on April 3, 2026. Holders who validly tender their notes before the deadline will receive the purchase price plus accrued interest up to the settlement date.

The offers are structured with fixed spreads over U.S. Treasury securities ranging from 20 to 65 basis points, depending on the note series. Micron reserves the right to terminate, withdraw or amend the offers at any time, subject to applicable law.

The tender offers are not conditional on any minimum amount of notes being tendered but are subject to certain other conditions. Tendered notes may be withdrawn at any time prior to the expiration deadline.

BofA Securities, Morgan Stanley & Co. LLC, and Wells Fargo Securities LLC are serving as dealer managers for the transaction. D.F. King & Co. Inc. is acting as information agent.