This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Seagate Technology Announces Successful Completion Of Cash Tender Offer For Outstanding 7.75% Senior Notes Due 2018 And 6.80% Senior Notes Due 2016

Seagate Technology plc (NASDAQ: STX) gave notice of the completion of the cash tender offer by its wholly owned subsidiary, Seagate HDD Cayman (“HDD Cayman”), previously announced on May 16, 2013 (the “Tender Offer”), to purchase up to an aggregate combined principal amount of $700 million (the “Maximum Tender Amount”) of the outstanding 7.75% Senior Notes due 2018, CUSIP number 81180WAE1 (the “2018 Notes”), and 6.800% Senior Notes due 2016, CUSIP number 81180RAE2 (the “2016 Notes” and, together with the 2018 Notes, the “Notes”). The Tender Offer expired at 11:59 p.m., New York City time, on June 13, 2013.

As of the expiration of the Tender Offer, HDD Cayman had received tenders for an aggregate principal amount of approximately $435 million of the 2018 Notes and an aggregate principal amount of approximately $307 million of the 2016 Notes. Because the aggregate combined principal amount of Notes validly tendered (and not validly withdrawn) pursuant to the Tender Offer exceeds the Maximum Tender Amount, the Notes accepted for purchase are subject to proration based on the Acceptance Priority Levels and proration procedures described in the Offer to Purchase. As a result, HDD Cayman has accepted for purchase all of the 2018 Notes validly tendered (and not validly withdrawn), or approximately $435 million aggregate principal amount of 2018 Notes, and approximately $265 million aggregate principal amount of the 2016 Notes validly tendered (and not validly withdrawn). HDD Cayman will pay a tender offer price of $1,137.50 per $1,000 principal amount of 2018 Notes and $1,162.50 per $1,000 principal amount of 2016 Notes. All Notes accepted for payment will also receive accrued and unpaid interest from the last interest payment date to, but not including, the payment date.

Morgan Stanley & Co. LLC acted as the sole dealer manager (the “Dealer Manager”) for the Tender Offer and Global Bondholder Services Corporation acted as depositary and information agent for the Tender Offer.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs