Seagate Increased Senior Unsecured Notes Offering

Seagate Technology plc has increased the size of its previously announced offering of $500 million aggregate principal amount of senior notes due 2018 to $750 million.

The Notes were priced at 100% of the aggregate principal amount and will bear interest at a rate of 7.75% per annum. The Notes will be issued by Seagate HDD Cayman, an indirect wholly-owned subsidiary of Seagate Technology plc, and guaranteed by Seagate Technology plc.

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 sale of the Notes is expected to close on December 14, 2010, subject to customary closing conditions.

Seagate estimates that the net proceeds from the offering will be approximately $733 million after deducting discounts and estimated offering expenses.

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.