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Seagate to repay some term loan borrowings with notes proceeds
By Sara Rosenberg
New York, May 23 – Seagate HDD Cayman plans to repay a portion of its term loan A borrowings using proceeds from a $1 billion two-tranche senior notes offering, according to a market source.
Remaining proceeds from the notes will be used to refinance the company’s existing 2024 notes and to pay related fees and expenses.
Seagate HDD, a subsidiary of Seagate Technology Holdings plc, is a Fremont, Calif.-based data storage company.
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