Seagate Technology Completes $700 Million Senior Notes Offering
05.14.15
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The Firm represented Seagate Technology plc (“Seagate”) in connection with its Rule 144A and Regulation S offering of $700 million aggregate principal amount of 4.875% Senior Notes due 2027. The notes were issued by Seagate HDD Cayman, a wholly owned subsidiary of Seagate, and guaranteed by Seagate. Morgan Stanley and BofA Merrill Lynch acted as joint-lead and bookrunning managers of the offering. Seagate will use the net proceeds from this offering for general corporate purposes, including replenishing cash associated with the redemption of the outstanding 6.875% Senior Notes due 2020, which have been redeemed, capital expenditures and other investments in the business.
Seagate is a leading provider of electronic data storage solutions.
The Simpson Thacher team for this transaction included Bill Hinman, Dan Webb, Brian Osimiri, Stephanie Richards and Andrew Simon-Rooke (Capital Markets); Noah Metz (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Alexis Coll-Very (Regulatory); and Michelle Morad (Intellectual Property).