Seagate seeks $500 million unsecured revolver

By Sara Rosenberg

New York, Sept. 12 - Seagate Technology is seeking a $500 million five-year amended and restated unsecured revolving credit facility, according to a company news release.

JPMorgan and Morgan Stanley are joint bookrunners on the deal, with JPMorgan the left lead, a market source said.

Proceeds may be used for, among other things, additional share repurchases under the company's $2.5 billion stock repurchase program and for general corporate purposes.

Seagate is a George Town, Cayman Islands, designer, manufacturer and marketer of hard disc drives.

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