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04.16.2009 - Seagate Technology Announces Pricing Of $430 Million Of Senior Secured Second-Priority Notes

View Seagate-Technology related news. SCOTTS VALLEY, Calif. - April 16, 2009 - Seagate Technology (NASDAQ: STX) today announced the pricing of its previously announced offering of $430 million aggregate principal amount of 10.00% Senior Secured Second-Priority Notes due 2014 (the “Notes”). The Notes will be issued by Seagate Technology International (“STI”), an indirect wholly-owned subsidiary of Seagate Technology, and guaranteed by Seagate Technology, Seagate Technology HDD Holdings and all of Seagate Technology’s other subsidiaries that guarantee its senior secured credit facility, on a full and unconditional basis and secured by a second-priority lien on the assets that secure the senior secured credit facility. The Notes are being sold in a private placement to qualified institutional buyers pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The sale of the Notes is expected to close on May 1, 2009, subject to the senior secured credit facility becoming effective on or prior to such date and subject to customary closing conditions.

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NID: 27991 / Submitted by: TACKtech Team
Categories: Press Release
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