Wednesday, June 17, 2020

Seagate Announces Pricing of Previously Announced Exchange Offers and Acceptance of Tendered Notes

Seagate HDD Cayman, a subsidiary of Seagate Technology, today announced the pricing of its previously announced exchange offers to certain eligible holders of the Company’s outstanding debt securities listed in the table below to exchange Existing Notes for up to $500,000,000 in aggregate principal amount of the Company’s new senior notes due 2029. The complete terms and conditions of the New Notes are set forth in a confidential offering memorandum, dated as of June 3, 2020, and the related letter of transmittal. The Company announced that it will pay interest on the New Notes at a rate per annum equal to 4.091%, as calculated in accordance with the Offering Memorandum.