Seagate 2014 Annual Report Download - page 88
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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
date.Theissuerunderthe2034NotesisSeagateHDDCayman,andtheobligationsunderthe2034Notesarefullyandunconditionallyguaranteed,onasenior
unsecuredbasis,bytheCompany.If,undercertaincircumstances,the2034NoteshavenototherwisebecomefreelytransferablebyDecember3,2015,thenthe
CompanyisrequiredtoexchangetheNotesfornotesregisteredundertheSecuritiesActof1933.
$700millionAggregatePrincipalAmountof4.875%SeniorNotesdueJune,2027(the"2027Notes").OnMay14,2015,SeagateHDDCaymanissued,ina
privateplacement,$700millioninaggregateprincipalamountof4.875%SeniorNotes,whichmatureonJune1,2027.TheinterestontheNotesispayablesemi-
annuallyonJune1andDecember1ofeachyear,commencingonDecember1,2015.AtanytimebeforeMarch1,2027,SeagateHDDCaymanmayredeemsome
oralloftheNotesata"make-whole"redemptionprice.The"make-whole"redemptionpricewillbeequalto(1)100%oftheprincipalamountoftheNotes
redeemed,plus(2)theexcess,ifanyof(x)thesumofthepresentvaluesoftheremainingscheduledpaymentsofprincipalandinterestontheNotesbeing
redeemed,discountedtotheredemptiondateonasemi-annualbasisatarateequaltothesumoftheTreasuryRateplus40basispoints,minusaccruedandunpaid
interest,ifany,ontheNotesbeingredeemedto,butexcluding,theredemptiondateover(y)theprincipalamountoftheNotesbeingredeemed,plus(3)accrued
andunpaidinterest,ifany,ontheNotesbeingredeemedto,butexcluding,theredemptiondate.AtanytimeonorafterMarch1,2027,theCompanymayredeem
someoralloftheNotesataredemptionpriceequalto100%oftheprincipalamountoftheNotesredeemed,plusaccruedandunpaidinterest,ifany,to,but
excluding,theredemptiondate.Theissuerunderthe2027NotesisSeagateHDDCayman,andtheobligationsunderthe2027Notesarefullyandunconditionally
guaranteed,onaseniorunsecuredbasis,bytheCompany.If,undercertaincircumstances,the2027Noteshavenototherwisebecomefreelytransferableby
May14,2016,thentheCompanyisrequiredtoexchangetheNotesfornotesregisteredundertheSecuritiesActof1933.
AtJuly3,2015,futureprincipalpaymentsonlong-termdebtwereasfollows(inmillions):
85
FiscalYear Amount
2016 $ —
2017 —
2018 —
2019 800
2020 —
Thereafter 3,358
$ 4,158