Seagate Increased Size of 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 $800 million.

The notes were priced at 100% of the aggregate principal amount and will bear interest at a rate of 3.75% 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 November 5, 2013, subject to customary closing conditions.

Seagate estimates that the net proceeds from the offering will be approximately $791 million after deducting underwriting 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, but are not limited to, the retirement of a portion of its outstanding indebtedness, capital expenditures and other investments in the business.

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Seagate Intends to Offer Senior Unsecured Notes
For amount of $500 million