The Firm represented Seagate Technology plc (“Seagate”) in connection with its Rule 144A and Regulation S offering of $1 billion aggregate principal amount of 4.75% Senior Notes due 2025. The notes were issued by Seagate HDD Cayman, a wholly owned subsidiary of Seagate, and guaranteed by Seagate. Morgan Stanley acted as joint-lead and sole bookrunning manager of the offering.
Seagate will use a portion of the net proceeds from this offering to finance cash tender offers by Seagate HDD Cayman for certain of its outstanding notes. Seagate intends to use the remaining proceeds for general corporate purposes. Seagate is a leading provider of data storage products.
The Simpson Thacher team for this transaction included: Bill Hinman, Dan Webb, Kelli Schultz, Rob Woodward and Michael Renner (Capital Markets); Katharine Moir and Noah Metz (Tax); Michael Isby (Environmental); and Joshua Walker and Michelle Morad (Intellectual Property).
