Seagate announces expiration of early exchange period and upsize of previously announced exchange offers for certain outstanding debt securities

Fremont, calif.--( business wire )--seagate hdd cayman (the “company”), a subsidiary of seagate technology holdings plc (nasdaq: stx), today announced the expiration of the early exchange period in connection with its previously announced exchange offers (each, an “exchange offer” and together, the “exchange offers”) to certain eligible holders of the company's outstanding debt securities listed in the table below (together, the “existing notes” and each a “series” of existing notes) to exchange existing notes for up to approximately $750 million (“new notes issuance limit”) in aggregate principal amount of the company's 9.625% senior notes due 2032 (the “new notes”). the company announced that it had increased the previously announced new notes issuance limit from $500 million to approximately $750 million, subject to further increase in its sole discretion. the complete terms and conditions of the new notes are set forth in a confidential offering memorandum, dated as of november 14, 2022, (the “offering memorandum”), and the related letter of transmittal.
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