Seagate Technology to redeem remaining 10% notes due 2014 on May 1

By Marisa Wong

Madison, Wis., March 15 - Seagate Technology International, a wholly owned subsidiary of Seagate Technology plc, has decided to redeem all of its outstanding 10% senior secured second-priority notes due 2014, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed on May 1 at 105 plus accrued interest to the redemption date.

As of March 15, the outstanding principal amount of the notes is $319,539,000.

Wells Fargo Bank, NA is the trustee.

Seagate, based in Dublin and with an office in Cupertino, Calif., designs, manufactures, markets and sells hard disk drives.

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