Seagate calls in full 5.75% convertibles and 2.375% convertibles

By Jennifer Chiou

New York, June 25 - Seagate Technology LLC wholly owned subsidiary Seagate Technology (US) Holdings, Inc. called for redemption all $33,159,000 of its 5.75% convertible subordinated debentures due March 2012 and the remaining $326 million of its 2.375% convertible senior notes due August 2012, according to an 8-K filing with the Securities and Exchange Commission.

The 5.75% notes will be redeemed for cash on July 27 at par plus accrued interest.

The 2.375% notes will be redeemed for cash on Aug. 20 at 100.68% plus accrued interest.

Both series were originally issued by Maxtor Corp. On June 1, 2009, Seagate Technology and Maxtor entered into supplemental indentures under which the former took over as issuer.

Seagate is a Scotts Valley, Calif., hard drive manufacturer with registered offices in the Cayman Islands.

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