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Seagate Technology PLC announces pricing and increased size of senior unsecured notes offering


Tuesday, 20 May 2014 05:35pm EDT 

Seagate Technology PLC:Increases size of its previously announced offering of $500 mln aggregate principal amount of senior notes due 2025 (Notes) to $1 bln.The Notes were priced at 100 pct of aggregate principal amount and will bear interest at a rate of 4.75 pct per annum.Notes will be issued by Seagate HDD Cayman, an indirect wholly-owned subsidiary of Seagate Technology plc (Seagate), and guaranteed by Seagate.Sale of Notes is expected to close on May 28, 2014.Seagate estimates that net proceeds from the offering will be about $987 mln after deducting underwriting discounts and estimated offering expenses.Seagate intends to use the net proceeds from the offering of the Notes for general corporate purposes, which may include, but are not limited to, the retirement of a portion of its outstanding indebtedness, capital expenditures and other investments in the business. 

Company Quote

54.275
-0.935 -1.69%
22 Oct 2014