Seagate Technology starts roadshow Monday for $400 million seven-year notes

By Paul A. Harris

St. Louis, Mo., April 25 - The roadshow starts Monday for Seagate Technology HDD Holdings' upcoming offering of $400 million senior notes due 2009 (Ba2/BB+) according to a syndicate source.

The roadshow wraps up and pricing is expected May 3.

Morgan Stanley and JPMorgan are joint bookrunners. The co-managers are Credit Suisse First Boston, Salomon Smith Barney and Merrill Lynch & Co.

The Rule 144A notes are non-callable for four years.

Proceeds will be used to fund the tender for the company's $210 million of 12½% senior subordinated notes due 2007, to repay bank debt and make a $200 million cash distribution to shareholders.

The Scotts Valley, Calif.-based company designs, markets and manufactures electronic data products and technologies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.