Seagate Technology Completes $500 Million Senior Notes Offering
12.02.14
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The Firm represented Seagate Technology plc (“Seagate”) in connection with its Rule 144A and Regulation S offering of $500 million aggregate principal amount of 5.75% Senior Notes due 2034. The notes were issued by Seagate HDD Cayman, a wholly owned subsidiary of Seagate, and guaranteed by Seagate. Morgan Stanley acted as joint-lead and sole bookrunning manager of the offering.
Seagate will use the net proceeds from this offering for general corporate purposes, including funding the redemption price of all of Seagate HDD Cayman’s 6.800% Senior Notes due 2016. Seagate is a leading provider of electronic data storage solutions.
The Simpson Thacher team for this transaction included Bill Hinman, Dan Webb, Kate Layton and Stephanie Richards (Capital Markets); Noah Metz (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); and Joshua Walker and Michelle Morad (Intellectual Property).