Simpson Thacher recently represented Seagate Technology in the issuance of $600 million in aggregate principal amount of 6.875% Senior Notes due 2020. The notes were issued by Seagate HDD Cayman and guaranteed by its parent, Seagate Technology, on a full and unconditional basis. Seagate intends to use the net proceeds from the notes offering to repay, redeem and/or repurchase a portion its outstanding indebtedness and for general corporate purposes.
Morgan Stanley & Co. Incorporated and Banc of America Securities LLC acted as joint-lead and joint bookrunning managers of the offering.
Seagate is the worldwide leader in the design, manufacture and marketing of hard disk drives and storage solutions, providing products for a wide-range of applications, including Enterprise, Desktop, Mobile Computing, Consumer Electronics and Branded Solutions.
The Simpson Thacher team included Bill Hinman, Bill Brentani, Larissa Schwartz, Philip Davidson, Kelli Schultz and paralegal Jakob Edell (Capital Markets) and Sean Austin and Daniel Foster (Tax).