Davis Polk & Wardwell advised Morgan Stanley & Co. Incorporated and Banc of America Securities LLC as joint book-running managers and representatives of the initial purchasers on an offering by Seagate Technology International of $430 million aggregate principal amount of 10% senior secured second-priority notes due 2014. The notes are secured by substantially all of Seagate's assets located in the U.S. and certain foreign jurisdictions. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.

Based in the Cayman Islands, Seagate Technology International is a subsidiary of Seagate Technology, which is the worldwide leader in the design, manufacturing and marketing of hard disc drives.

The Davis Polk corporate team included partner Michael Kaplan, associates Norberto E. Quintana, Kevin Williams, Y. Jung Choi, John A.B. O’Callaghan and Patrick Spencer and legal assistants James H. McCormick and Fatima Santos. Counsel Susan D. Kennedy and associate Alan R. Lewis provided real estate advice. Counsel Loyti Cheng and associates Marie-Christine Eldridge and Jonathan C. Pentzien provided environmental advice. The tax team included partner William H. Weigel and associates Joanna Mörk and Michelle Messer. Associates Stefan Quick and Margaret Chow provided intellectual property advice. All members of the Davis Polk team are based in the New York office, other than Mr. Spencer who is based in the Menlo Park office.