Seagate 2015 Annual Report Download - page 89
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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
aggregateprincipalamountofits2021Notesforcashatapremiumtotheirprincipalamount,plusaccruedandunpaidinterest.TheCompanyrecordedalosson
therepurchaseofapproximately$54million,whichisincludedinOther,netintheCompany'sConsolidatedStatementofOperations.Duringfiscalyear2015,the
Companyrepurchased$93millionaggregateprincipalamountofits2021Notesforcashatapremiumtotheirprincipalamount,plusaccruedandunpaidinterest.
TheCompanyrecordedalossontherepurchaseofapproximately$13million,whichisincludedinOther,netintheCompany'sConsolidatedStatementof
Operations.Duringfiscalyear2016,theCompanyrepurchased$1millionaggregateprincipalamountofits2021Notesforcashatapremiumtotheirprincipal
amount,plusaccruedandunpaidinterest.Thelossrecordedontherepurchasewasimmaterial,whichisincludedinOther,netintheCompany'sConsolidated
StatementofOperations.
$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.Duringfiscalyear2016,theCompanyrepurchased$10millionaggregateprincipalamountofits2023Notesforcashat
adiscounttotheirprincipalamount,plusaccruedandunpaidinterest.Thelossrecordedontherepurchasewasimmaterial,whichisincludedinOther,netinthe
Company'sConsolidatedStatementofOperations.
$1billionAggregateprincipalamountof4.75%SeniorNotesdueJanuary2025(the"2025Notes").OnMay28,2014,SeagateHDDCaymanissued,ina
privateplacement,$1billioninaggregateprincipalamountof4.75%SeniorNotesdue2025,whichmatureonJanuary1,2025.TheinterestontheNoteswillbe
payableincashsemiannuallyonJanuary1andJuly1ofeachyear,commencingonJanuary1,2015.Atanytime,uponnotlessthan30normorethan60days'
notice,SeagateHDDmayredeemsomeoralloftheNotesata"make-whole"redemptionprice.The"make-whole"redemptionpricewillbeequaltothegreaterof
(1)100%oftheprincipalamountoftheNotesredeemed,and(2)thesumofthepresentvaluesoftheremainingscheduledpaymentsofprincipalandinterestonthe
Notesbeingredeemed,discountedtotheredemptiondateonasemi-annualbasisatarateequaltothesumoftheTreasuryRateplus50basispoints.Accruedand
unpaidinterest,ifany,willbepaidto,butexcluding,theredemptiondate.TheNotesarefullyandunconditionallyguaranteedbytheCompanyonasenior
unsecuredbasis.Duringfiscalyear2016,theCompanyrepurchased$5millionaggregateprincipalamountofits2025Notesforcashatadiscounttotheirprincipal
amount,plusaccruedandunpaidinterest.Thegainrecordedontherepurchasewasimmaterial,whichisincludedinOther,netintheCompany'sConsolidated
StatementofOperations.
$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)thesumofthepresentvaluesoftheremaining
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