Seagate 2013 Annual Report Download - page 90

Table of Contents
SEAGATE TECHNOLOGY PLC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Long-Term Debt
$600 million Aggregate Principal Amount of 6.8% Senior Notes due October 2016 (the "2016 Notes"). On September 20, 2006, the
Company's subsidiary, Seagate Technology HDD Holdings, completed the sale of $600 million aggregate principal amount of the 2016 Notes, in
a private placement exempt from the registration requirements of the Securities Act of 1933, as amended. The interest on the 2016 Notes is
payable semi-annually on April 1 and October 1 of each year. The issuer under the 2016 Notes is Seagate HDD Cayman, and the obligations
under the 2016 Notes are unconditionally guaranteed by certain of the Company's significant subsidiaries. The 2016 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 2016 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. During fiscal year 2013,
the Company repurchased $265 million aggregate principal amount of its 2016 Notes for cash at a premium to their principal amount, plus
accrued and unpaid interest, and recorded a loss on the repurchase of approximately $44 million, which is included in Other, net in the
Company's Consolidated Statements of Operations.
$800 million Aggregate Principal Amount of 3.75% Senior Notes due November 2018 (the "Notes"). On November 5, 2013, Seagate
HDD Cayman, issued $800 million in aggregate principal amount of 3.75% Senior Notes, which mature on November 15, 2018, in a private
placement. The interest on the Notes is payable semi-annually on May 15 and November 15 of each year. The Notes are redeemable at the
option of Seagate HDD Cayman 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" premium 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 schedule payments of principal and interest on the 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. The Notes are fully and unconditionally guaranteed by the
Company on a senior unsecured basis. Seagate HDD Cayman and the Company are required to exchange the Notes for notes registered under the
Securities Act of 1933, as amended, by January 30, 2015 if the Notes have not otherwise become freely transferable by that time.
$750 million Aggregate Principal Amount of 7.75% Senior Notes due December 2018 (the "2018 Notes"). On December 14, 2010, the
Company's subsidiary, Seagate HDD Cayman, completed the sale of $750 million aggregate principal amount of the 2018 Notes in a private
placement exempt from the registration requirements of the Securities Act of 1933, as amended. During fiscal years 2014 and 2013, the
Company repurchased $193 million and $513 million in aggregate principal amounts of its 2018 Notes, respectively, for cash at a premium to
their principal amount, plus accrued and unpaid interest. During fiscal year 2014, the Company redeemed $44 million in aggregate principal
amount of its 2018 Notes, for cash at a premium of its principal amount, plus accrued and unpaid interest. During fiscal years 2014 and 2013, the
Company recorded losses on the repurchase and redemption of approximately $20 million and $75 million, respectively, which are included in
Other, net in the Company's Consolidated Statements of Operations. As of June 27, 2014, the 2018 Notes were fully extinguished.
$600 million Aggregate Principal Amount of 6.875% Senior Notes due May 2020 (the "2020 Notes"). On May 13, 2010, the Company's
subsidiary, Seagate HDD Cayman, completed the sale of $600 million aggregate principal amount of the 2020 Notes, in a private placement
exempt from the registration
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