Press release
Seagate Announces the Early Tender Results and Upsizing of Cash Tender Offers for Certain Outstanding Debt Securities and Entry into $500 Million Term Loan Facility
CUPERTINO, Calif.--(BUSINESS WIRE)-- Seagate HDD Cayman (the “Company”), a subsidiary of Seagate Technology plc (NASDAQ: STX), today announced the early
About this update from Seagate Technology Holdings Plc
[{"type":"text","content":" CUPERTINO, Calif.--(BUSINESS WIRE)--\nSeagate HDD Cayman (the “Company”), a subsidiary of Seagate Technology plc (NASDAQ: STX), today announced the early tender results for its previously announced cash tender offers (each, an “Offer” and, collectively, the “Offers”) for (i) up to an aggregate principal amount of $250,000,000 of its 4.250% Senior Notes due 2022 (the “2022 Notes”), (ii) up to an aggregate principal amount of $200,000,000 of its 4.750% Senior Notes due 2023 (the “2023 Notes”), and (iii) up to an aggregate principal amount of $75,000,000 of its 4.750% Senior Notes due 2025 (the “2025 Notes,” and, collectively with the 2022 Notes and the 2023 Notes, the “Notes” and each, a “series”).\n\n\nThe Company also announced that it is increasing the Tender Cap for the Offer for the 2025 Notes from $75,000,000 to $170,000,000, as reflected in the table below. The terms and conditions of the Offers are described in the Offer to Purchase dated September 3, 2019 (as amended to date, the “Offer to Purchase”) and the related Letter of Transmittal (as amended to date, the “Letter of Transmittal”), and remain unchanged except as amended hereby.\n\n\nAs of the previously announced early tender date and time of 5:00 p.m., New York City time, on September 16, 2019 (the “Early Tender Deadline”), the aggregate principal amount of each series of Notes set forth in the table below has been validly tendered and not validly withdrawn in the Offers:\n\n\n\n\nTitle of\nSecurity\n\n\n\n\nCUSIP Number\n\n\n\n\nPrincipal Amount Outstanding\n\n\n\n\nTender Cap (Principal Amount)\n\n\n\n\nAggregate Principal Amount Tendered\n\n\n\n\nProration Factor (1)\n\n\n\n\n Notes Accepted\n\n\n\n\n\n4.250% Senior\n\n\nNotes due 2022\n\n\n\n\n81180WAV3\n\n\n\n\n$ 750,000,000\n\n\n\n\n$ 250,000,000\n\n\n\n\n$ 384,349,000\n\n\n\n\n65.1%\n\n\n\n\n $ 249,999,000\n\n\n\n\n\n4.750% Senior\n\n\nNotes due 2023\n\n\n\n\n81180WAH4\n\n\n\n\n$ 941,000,000\n\n\n\n\n$ 200,000,000\n\n\n\n\n$ 302,159,000\n\n\n\n\n66.4%\n\n\n\n\n $ 200,000,000\n\n\n\n\n\n4.750% Senior\n\n\nNotes due 2025\n\n\n\n\n81180WAL5\n\n\n\n\n$ 920,000,000\n\n\n\n\n$ 170,000,000\n\n\n\n\n$ 333,973,000\n\n\n\n\n51.1%\n\n\n\n\n $ 169,996,000\n\n\n\n\n\n(1) Rounded to the nearest tenth of one percent.\n\n\nBecause the aggregate principal amount of the 2022 Notes, the 2023 Notes and the 2025 Notes validly t...