Seagate Technology Announces Offering of $500 Million of Senior Unsecured Notes
08 Dicembre 2010 - 1:54PM
Business Wire
Seagate Technology plc (NASDAQ:STX) today announced that it
intends, subject to market and other conditions, to offer up to
$500 million aggregate principal amount of senior notes due 2018
(the “Notes”) in a private placement. The Notes are expected to be
issued by Seagate HDD Cayman, an indirect wholly-owned subsidiary
of Seagate Technology plc, and guaranteed by Seagate Technology
plc.
Seagate intends to use the net proceeds from the offering of the
Notes for general corporate purposes, which may include the
repayment, redemption and/or repurchase of a portion of its
outstanding indebtedness.
About Seagate
Seagate is the world leader in hard disk drives and storage
solutions.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes nor shall there be any
sale of the Notes in any state in which such offer, solicitation or
sale would be unlawful. The Notes to be offered have not been and
will not be registered under the Securities Act, or applicable
state securities laws, and may not be offered or sold in the United
States absent registration or pursuant to an applicable exemption
from the registration requirements of the Securities Act of 1933
and applicable state securities laws.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and
Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements include, but are not
limited to, statements related to the proposed offering of the
Notes and the anticipated use of proceeds therefrom. These
forward-looking statements are based on information available to
Seagate as of the date of this press release. Current expectations,
forecasts and assumptions involve a number of risks and
uncertainties that could cause actual results to differ materially
from those anticipated by these forward-looking statements. Such
risks and uncertainties include a variety of factors, some of which
are beyond the Company’s control. In particular, such risks and
uncertainties include the impact of conditions in the credit
markets generally and, in particular, for companies in the markets
in which Seagate operates, and uncertainty in global economic
conditions, which pose a risk to the overall economy as consumers
and businesses may defer purchases in response to tighter credit
and negative financial news. Information concerning risks,
uncertainties and other factors that could cause results to differ
materially from those projected in the forward-looking statements
is contained in the Company's Quarterly report on Form 10-Q as
filed with the U.S. Securities and Exchange Commission (the “SEC”)
on November 3, 2010 and Annual Report on Form 10-K and Form 10-K/A
as filed with the U.S. Securities and Exchange Commission on August
20, 2010, and October 6, 2010, respectively, which statements are
incorporated into this press release by reference. These
forward-looking statements should not be relied upon as
representing Seagate’s views as of any subsequent date and Seagate
undertakes no obligation to update forward-looking statements to
reflect events or circumstances after the date they were made.
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