Seagate 2008 Annual Report Download - page 141
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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
18. Condensed Consolidating Financial Information (Continued)
On June 1, 2009, Maxtor, an indirect wholly-owned subsidiary of the Company incorporated in Delaware, merged with STUS, also an
indirect wholly-owned subsidiary of the Company incorporated in Delaware.
On June 1, 2009, in connection with the consummation of the Merger, the Company entered into second supplemental indentures
(collectively, the "Supplemental Indentures") with Maxtor, STUS and U.S. Bank National Association, as trustee, amending and supplementing
the indentures governing: (i) the 2.375% Notes; (ii) the 6.8% Notes; and (iii) the 5.75% Debentures (together with the 2.375% Notes and the
6.8% Notes, the "Notes").
Pursuant to the Supplemental Indentures, STUS succeeded to, and assumed all of the obligations of, Maxtor under the Indentures and the
Notes, Maxtor was discharged and released from all of its obligations under the Indentures and the Notes and the Company agreed to fully and
unconditionally guarantee all of the obligations of STUS under the Indentures and the Notes, including the due and punctual payment of
principal and interest.
The following tables present parent guarantor, subsidiary issuer and combined non-guarantors Condensed Consolidating Balance Sheets of
the Company and its subsidiaries at July 3, 2009 and June 27, 2008, and the Condensed Consolidating Statements of Operations and Cash Flows
for the fiscal years ended July 3, 2009, June 27, 2008, and June 29, 2007. The Condensed Consolidating Statements of Operations and Cash
Flows for the fiscal year ended July 3, 2009 include information for Maxtor-subsidiary issuer for the eleven months ended May 29, 2009 and
information for STUS-subsidiary issuer for the one month ended July 3, 2009. The information classifies the Company's subsidiaries into
Seagate Technology-parent company guarantor, Maxtor-subsidiary issuer, STUS-subsidiary issuer, and the Combined Non-Guarantors based on
the classification of those subsidiaries under the terms of the Notes.
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