The Firm represented Seagate Technology plc (“Seagate”) in connection with its Rule 144A and Regulation S offering of $1.0 billion aggregate principal amount of 4.75% Senior Notes due 2023. The notes were issued by Seagate HDD Cayman, a wholly-owned subsidiary of Seagate, and guaranteed by Seagate. Morgan Stanley, BofA Merrill Lynch and BNP Paribas acted as joint-lead and joint bookrunning managers of the offering.
Seagate used a portion of the net proceeds from this offering to finance the cash tender offer by Seagate HDD Cayman for $250 million of its outstanding notes. Seagate intends to use the remaining proceeds for general corporate purposes.
Seagate is the worldwide leader in the design, manufacture and marketing of hard disk drives and storage solutions, providing products for a wide-range of applications, including Enterprise, Desktop, Mobile Computing, Consumer Electronics and Branded Solutions.
The Simpson Thacher team for this transaction included: Bill Hinman, Dan Webb, Kelli Schultz, Ryan Coombs, Emma Channing, Rob Woodward and Dena Acevedo (Capital Markets); and Katharine Moir and Dan Foster (Tax).
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