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Seagate unit to sell notes to repay 3.75% notes due 2018, other debt
By Devika Patel
Knoxville, Tenn., Jan. 31 – Seagate Technology plc said that its subsidiary, Seagate HDD Cayman, intends to offer senior notes. The company reported that one of its subsidiaries planned to price a Rule 144A and Regulation S offering of notes on Jan. 27.
The notes will be guaranteed by Seagate.
Proceeds will be used for general corporate purposes, including repaying the company’s 3.75% senior notes due 2018 and other debt repayments, capital expenditures and other investments.
Seagate is a Cupertino, Calif.-based hard drive manufacturer.
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