Seagate Plans To Offer Up To $1 Bln Of Senior Notes

(RTTNews) - Seagate HDD Cayman, a subsidiary of Seagate Technology Holdings plc (STX), said that it plans to offer up to a combined $1 billion in aggregate principal amount of senior notes due 2029 and senior notes due 2031 in a private placement.

The company noted that it plans to use the net proceeds from the offering of the Notes to redeem in full its 4.875% Senior Notes due 2024 promptly following the offering, to repay $450.0 million in aggregate principal amount of the term loans outstanding under its credit agreement and for general corporate purposes, which may include repayment of other outstanding indebtedness, capital expenditures and other investments in the business.