Seagate Technology Completes $1.25 Billion Senior Notes Offering
02.17.17
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The Firm represented Seagate Technology plc (“Seagate”) in connection with its Rule 144A and Regulation S offering of $750 million aggregate principal amount of 4.25% Senior Notes due 2022 and $500 million aggregate principal amount of 4.875% Senior Notes due 2024. 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, which may include repayment of the outstanding 3.75% Senior Notes due 2018 and repayment of other outstanding indebtedness, capital expenditures and other investments in the business. Seagate is a leading provider of electronic data storage technology and solutions.
The Simpson Thacher team for this transaction included Dan Webb, Kelli Schultz, Karen Reyes, Michael Deitch and Clint Eastman (Capital Markets); Tanvi Mirani (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and JaeWon Lee (Intellectual Property).