Seagate Technology Announces Offering of $1.0 Billion of Senior Notes
 

Seagate Technology plc. today announced that it intends, subject to market and other conditions, to offer up to of $1.0 billion aggregate principal amount of senior notes (the "Notes") in a private placement. The Notes are expected to be issued by Seagate HDD Cayman, an indirect wholly-owned subsidiary of Seagate Technology plc, and guaranteed by Seagate Technology plc.

Seagate intends to use the net proceeds from the offering of the Notes to replenish cash associated with the recent redemption of the 10% Senior Secured Notes, to retire up to an aggregate amount of $250 million of outstanding senior notes, and for general corporate purposes, which may include, but are not limited to, capital expenditures and other investments in the business, and other repurchases of indebtedness.

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