Seagate Technology Announces Offering of Senior Unsecured Notes
January 31 2017 - 9:10AM
Business Wire
Seagate Technology plc (NASDAQ: STX) today announced that it
intends, subject to market and other conditions, to offer senior
notes (the “Notes”) in a private placement to qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”), and in offshore
transactions under Regulation S under the Securities Act. The Notes
are expected to be issued by Seagate HDD Cayman (“HDD Cayman”), an
indirect wholly owned subsidiary of Seagate Technology plc
(“Seagate”), and guaranteed by Seagate.
HDD Cayman intends to use the net proceeds from the offering of
the Notes 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.
About Seagate
Seagate creates space for the human experience by innovating how
data is stored, shared and used.
Seagate, Seagate Technology and the Seagate logo are trademarks
or registered trademarks of Seagate Technology LLC in the United
States and/or other countries.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the Notes, nor shall there be any
sale of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
The Notes to be offered have not been and will not be registered
under the Securities Act, or applicable state securities laws, and
may not be offered or sold in the United States absent registration
or pursuant to an applicable exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and applicable state securities laws.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, each as
amended, including, in particular, statements about the terms and
conditions of, and completion of, the offering of the Notes
described above. The Company cannot assure that the offering will
be consummated, nor can it guarantee the size or terms of the
offering. These statements identify prospective information and may
include words such as “expects,” “intends,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” “projects,” “should,” “may,”
“will,” or the negative of these words, variations of these words
and comparable terminology. These forward-looking statements are
based on information available to the Company as of the date of
this press release and are based on management’s current views and
assumptions. These forward-looking statements are conditioned upon
and also involve a number of known and unknown risks,
uncertainties, and other factors that could cause actual results,
performance or events to differ materially from those anticipated
by these forward-looking statements. These forward-looking
statements should not be relied upon as representing the Company’s
views as of any subsequent date and the Company undertakes no
obligation to update forward-looking statements to reflect events
or circumstances after the date they were made.
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version on businesswire.com: http://www.businesswire.com/news/home/20170131005759/en/
Seagate Technology plcEric DeRitis,
408-658-1561eric.deritis@seagate.com
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