debt
confidence high
sentiment neutral
materiality 0.60
Seagate completes exchange of $2.81B in Old Notes for New Notes via SDST subsidiary
Seagate Technology Holdings plc
- As of June 26, $2,809,835,357 principal amount of eight Old Note series validly tendered and accepted.
- Settlement on June 30; SDST issued new notes with same rates, maturities as Old Notes.
- Per $1,000 Old Note tendered, holders receive $1,000 New Notes plus $1.25 cash.
- Supplemental indentures remove most restrictive covenants and release guarantors on Old Notes.
- Registration rights agreements require exchange offer within 451 days if notes not freely tradable.
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