Seagate Announces the Pricing Terms of Cash Tender Offers for Certain Outstanding Debt Securities

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 pricing terms of 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, (ii) up to an aggregate principal amount of $200,000,000 of its 4.750% Senior Notes due 2023, and (iii) up to an aggregate principal amount of $170,000,000 of its 4.750% Senior Notes due 2025 (collectively, the “Notes”). 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 by the Company’s press release dated September 17, 2019 increasing the Tender Cap for the offer for the 2025 Notes.\n\n\nThe Total Consideration for each series of Notes is based on the yield to maturity of the applicable U.S. Treasury Security (the “Reference Yield”) plus a fixed spread, in each case, as set forth in the table below, and is payable to holders of the Notes who validly tendered and did not validly withdraw their Notes on or before 5:00 p.m., New York City time, on September 16, 2019 (the “Early Tender Deadline”) and whose Notes are accepted for purchase by the Company. The Reference Yields (as determined pursuant to the Offer to Purchase) listed in the table were determined at 10:00 a.m., New York City time, today, September 17, 2019, by the dealer managers (identified below). The Total Consideration for each series of Notes includes an early tender premium of $30.00 per $1,000 principal amount of Notes validly tendered and not validly withdrawn by such holders and accepted for purchase by the Company.\n\n\n\n\nTitle of Security \n\n\n \n\nCUSIP Number\n\n\n \n\nReference U.S.\nTreasury Security\n\n\n \n\nReference Yield\n\n\n \n\nFixed Spread\n(basis points)\n\n\n \n\nTotal Consideration\n(per $1,000)\n\n\n \n\n\n\n4.250% Senior\nNotes due 2022\n\n\n \n\n81180WAV3\n\n\n \n\n1.500% UST due\n8/15/22\n\n\n \n\n1.716%\n\n\n \n\n95\n\n\n \n\n$ 1,036.14\n\n\n \n\n\n\n4.750% Senior\nNotes due 2023\n\n\n \n\n81180WAH4\n\n\n \n\n1.250% UST due\n8/31/24\n\n\n \n\n1.678%\n\n\n \n\n175...

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