Seagate gets $100 million revolver

By Sara Rosenberg

New York, Nov. 23 - Seagate Technology closed on a new $100 million three-year senior unsecured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

JPMorgan acted as lead arranger and bookrunner on the deal, The Bank of Nova Scotia was joint lead arranger and syndication agent, and Bank of America, BNP Paribas and KeyBank were co-documentation agents.

Borrowings under the revolver can carry an interest rate anywhere from Libor plus 50 to 125 basis points based on ratings.

The facility, which closed Nov. 22, was used to replace the company's previous $150 million senior secured credit facility.

Seagate is a Scotts Valley, Calif.-based rigid disc drive company.

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