Seagate 2014 Annual Report Download - page 87
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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
HDDCaymanandtheobligationsunderthe2021Notesarefullyandunconditionallyguaranteed,onaseniorunsecuredbasis,bytheCompany.Duringfiscalyear
2014,theCompanyrepurchased$349millionaggregateprincipalamountofits2021Notesforcashatapremiumtotheirprincipalamount,plusaccruedand
unpaidinterest.TheCompanyrecordedalossontherepurchaseofapproximately$54million,whichisincludedinOther,netintheCompany'sConsolidated
StatementofOperations.Duringfiscalyear2015,theCompanyrepurchased$93millionaggregateprincipalamountofits2021Notesforcashatapremiumto
theirprincipalamount,plusaccruedandunpaidinterest.TheCompanyrecordedalossontherepurchaseofapproximately$13million,whichisincludedinOther,
netintheCompany'sConsolidatedStatementofOperations.
$1billionAggregatePrincipalAmountof4.75%SeniorNotesdueJune2023(the"2023Notes").OnMay22,2013,SeagateHDDCayman,issued
$1billioninaggregateprincipalamountof4.75%SeniorNotes,whichmatureonJune1,2023,inaprivateplacement.Theobligationsunderthe2023Notesare
fullyandunconditionallyguaranteed,onaseniorunsecuredbasis,bytheCompany.Theinterestonthe2023Notesispayablesemi-annuallyonJune1and
December1ofeachyear.The2023NotesareredeemableattheoptionoftheCompanyinwholeorinpart,onnotlessthan30,normorethan60daysnotice,ata
"make-whole"premiumredemptionprice.The"make-whole"redemptionpricewillbeequaltothegreaterof(1)100%oftheprincipalamountofthenotesbeing
redeemed,or(2)thesumofthepresentvaluesoftheremainingscheduledpaymentsofprincipalandinterestonthe2023Notesbeingredeemed,discountedatthe
redemptiondateonasemi-annualbasisatarateequaltothesumoftheapplicableTreasuryrateplus50basispoints.Accruedandunpaidinterest,ifany,willbe
paidto,butexcluding,theredemptiondate.
$1billionAggregateprincipalamountof4.75%SeniorNotesdueJanuary2025(the"2025Notes").OnMay28,2014,SeagateHDDCaymanissued
$1billioninaggregateprincipalamountof4.75%SeniorNotesdue2025,whichmatureonJanuary1,2025.TheinterestontheNoteswillbepayableincash
semiannuallyonJanuary1andJuly1ofeachyear,commencingonJanuary1,2015.Atanytime,uponnotlessthan30normorethan60days'notice,Seagate
HDDmayredeemsomeoralloftheNotesata"make-whole"redemptionprice.The"make-whole"redemptionpricewillbeequaltothegreaterof(1)100%ofthe
principalamountoftheNotesredeemed,and(2)thesumofthepresentvaluesoftheremainingscheduledpaymentsofprincipalandinterestontheNotesbeing
redeemed,discountedtotheredemptiondateonasemi-annualbasisatarateequaltothesumoftheTreasuryRateplus50basispoints.Accruedandunpaid
interest,ifany,willbepaidto,butexcluding,theredemptiondate.TheNotesarefullyandunconditionallyguaranteedbytheCompanyonaseniorunsecured
basis.
$500millionAggregatePrincipalAmountof5.75%SeniorNotesdueDecember,2034(the"2034Notes").OnDecember2,2014,SeagateHDDCayman
issued,inaprivateplacement,$500millioninaggregateprincipalamountof5.75%SeniorNotes,whichmatureonDecember1,2034.TheinterestontheNotesis
payablesemi-annuallyonJune1andDecember1ofeachyear,commencingonJune1,2015.AtanytimebeforeJune1,2034,SeagateHDDCaymanmayredeem
someoralloftheNotesata"make-whole"redemptionprice.The"make-whole"redemptionpricewillbeequalto(1)100%oftheprincipalamountoftheNotes
redeemed,plus(2)theexcess,ifanyof(x)thesumofthepresentvaluesoftheremainingscheduledpaymentsofprincipalandinterestontheNotesbeing
redeemed,discountedtotheredemptiondateonasemi-annualbasisatarateequaltothesumoftheTreasuryRateplus50basispoints,minusaccruedandunpaid
interest,ifany,ontheNotesbeingredeemedto,butexcluding,theredemptiondateover(y)theprincipalamountoftheNotesbeingredeemed,plus(3)accrued
andunpaidinterest,ifany,ontheNotesbeingredeemedto,butexcluding,theredemptiondate.AtanytimeonorafterJune1,2034,theCompanymayredeem
someoralloftheNotesataredemptionpriceequalto100%oftheprincipalamountoftheNotesredeemed,plusaccruedandunpaidinterest,ifany,to,but
excluding,theredemption
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