Seagate 2012 Annual Report Download - page 90

Table of Contents
SEAGATE TECHNOLOGY PLC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
of the principal amount plus an "applicable premium" and accrued and unpaid interest, if any, to the redemption date. The "applicable premium"
will be equal to the greater of (1) 1% of the principal amount of the 2021 Notes, or (2) the excess, if any, of (a) the present value of the
redemption price on May 1, 2016 plus interest payments due through May 1, 2016, discounted at the applicable Treasury rate as of the
redemption date plus 50 basis points; over (b) the principal amount of such note. The 2021 Notes are redeemable at any time on or after May 1,
2016 at various prices expressed as a percentage of principal amount, as set forth in the indentures, plus accrued and unpaid interest, if any, to
the redemption date. In addition, any time before May 2, 2014, the Company may redeem up to 35% of the principal amount with the net cash
proceeds from permitted sales of the Company's stock at a redemption price of 107% of the principal amount plus accrued interest to the
redemption date.
$1 billion Aggregate Principal Amount of 4.75% Senior Notes due June 1, 2023 (the "2023 Notes"). On May 22, 2013, Seagate HDD
Cayman, issued $1 billion in aggregate principal amount of 4.75% Senior Notes, which mature on June 1, 2023, in a private placement with a
requirement that if, under certain circumstances, the 2023 Notes have not otherwise become freely transferable by May 26, 2014, then the
Company is required to register the 2023 Notes under the Securities Act of 1933, as amended. The interest on the 2023 Notes is payable semi-
annually on June 1 and December 1 of each year. The 2023 Notes are redeemable at the option of the Company in whole or in part, on not less
than 30, nor more than 60 days notice, at a "make-whole" premium redemption price. The "make-whole" redemption price will be equal to the
greater of (1) 100% of the principal amount of the notes being redeemed, or (2) the sum of the present values of the remaining scheduled
payments of principal and interest on the 2023 Notes being redeemed, discounted at the redemption date on a semi-
annual basis at a rate equal to
the sum of the applicable Treasury rate plus 50 basis points. Accrued and unpaid interest, if any, will be paid to, but excluding, the redemption
date.
Other As part of our acquisition of LaCie S.A. during fiscal year 2013, long-term debt of $6 million was acquired. As of June 28, 2013,
$3 million is classified as current.
At June 28, 2013, future principal payments on long-term debt were as follows (in millions):
83
Fiscal Year
2014
$
3
2015
1
2016
—
2017
335
2018
—
Thereafter
2,438
$
2,777