Seagate HDD $500 Million Exchange Offers
6/19/2020

Davis Polk advised the lead dealer managers in connection with the Rule 144A/Regulation S exchange offers by Seagate HDD Cayman pursuant to which it issued $500 million aggregate principal amount of its newly issued 4.091% senior notes due 2029 in exchange for approximately $271 million aggregate principal amount of its outstanding 4.750% senior notes due 2025 and approximately $185 million aggregate principal amount of its outstanding 4.875% senior notes due 2027. The notes are unconditionally guaranteed by Seagate Technology plc.

Based in the Cayman Islands, Seagate is a subsidiary of Seagate Technology plc, which is a leading provider of data storage technology and solutions.

The Davis Polk corporate team included partner Michael Kaplan and associates Andrew J. Terjesen and Amanda R. Simmons. Counsel Loyti Cheng and associate Michael Comstock provided environmental advice. The tax team included partner Michael Farber and associate Tomislava Dragicevic. Partner Pritesh P. Shah and associate Yana Kipnis provided intellectual property advice. All members of the Davis Polk team are based in the New York office.