Seagate subsidiary issues $400M 5.875% notes due 2030; launches exchange offers for 8 series of old notes

Seagate Technology Holdings plc

SDST issued $400M of 5.875% Senior Notes due 2030; interest payable Jan 15 & Jul 15 starting Jan 15, 2026.
Exchange offers for eight series of Seagate HDD old notes: holders receive $950 principal of new notes + $1.25 cash per $1,000 old notes.
Early participation bonus: $50 extra principal + $1.25 cash more if tendered by June 10, 2025.
Consent solicitations seek to eliminate restrictive covenants in old note indentures; new notes have same coupons and maturities.
Issuer changes from Seagate HDD Cayman to SDST; same guarantors (Seagate Holdings, STUC, Seagate HDD).

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