Simpson Thacher recently represented Seagate Technology in the issuance of $750 million in aggregate principal amount of 7.75% Senior Notes due 2018. The notes were issued by Seagate HDD Cayman and guaranteed by its parent, Seagate Technology plc, on a full and unconditional basis. Seagate intends to use the net proceeds from the notes offering for general corporate purposes, which may include the repayment, redemption and/or repurchase of a portion of its outstanding indebtedness.
Morgan Stanley & Co. Incorporated and Merrill Lynch, Pierce, Fenner & Smith Incorporated 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, Daniel Webb, Philip Davidson, Emma Channing and Corporate Case Assistant Jamie Thai (Capital Markets), Jeff Ostrow (IP), Daniel Foster (Tax) and Jennie Getsin (Blue Sky).