Loan & DebtJun 12, 2026, 06:06 AM
Seagate to Redeem $150.7M Exchangeable Senior Notes
AI Summary
Seagate HDD Cayman, a subsidiary of Seagate Technology Holdings plc, announced the redemption of all outstanding 3.50% Exchangeable Senior Notes due 2028. The redemption date is September 8, 2026, with notes to be redeemed for cash at principal plus accrued and unpaid interest. Holders have the option to exchange their notes for Seagate ordinary shares at a current rate of 12.1363 shares per $1,000 principal amount until September 3, 2026. This action is expected to eliminate approximately $150.7 million of debt.
Key Highlights
- Seagate HDD to redeem all outstanding 3.50% Exchangeable Senior Notes due 2028.
- Redemption date set for September 8, 2026.
- Notes will be redeemed for cash at principal amount plus accrued and unpaid interest.
- Exchange deadline for notes is September 3, 2026, 5:00 p.m. New York City time.
- Current exchange rate is 12.1363 ordinary shares per $1,000 principal amount.
- Exchange rate will be adjusted on June 25, 2026, due to a $0.74 dividend.
- Expected to eliminate approximately $150.7 million of debt.
Price Impact
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