Seagate 2015 Annual Report Download - page 90
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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
scheduledpaymentsofprincipalandinterestontheNotesbeingredeemed,discountedtotheredemptiondateonasemi-annualbasisatarateequaltothesumof
theTreasuryRateplus50basispoints,minusaccruedandunpaidinterest,ifany,ontheNotesbeingredeemedto,butexcluding,theredemptiondateover(y)the
principalamountoftheNotesbeingredeemed,plus(3)accruedandunpaidinterest,ifany,ontheNotesbeingredeemedto,butexcluding,theredemptiondate.At
anytimeonorafterJune1,2034,theCompanymayredeemsomeoralloftheNotesataredemptionpriceequalto100%oftheprincipalamountoftheNotes
redeemed,plusaccruedandunpaidinterest,ifany,to,butexcluding,theredemptiondate.Theissuerunderthe2034NotesisSeagateHDDCayman,andthe
obligationsunderthe2034Notesarefullyandunconditionallyguaranteed,onaseniorunsecuredbasis,bytheCompany.Duringfiscalyear2016,theCompany
repurchased$10millionaggregateprincipalamountofits2034Notesforcashatadiscounttotheirprincipalamount,plusaccruedandunpaidinterest.The
Companyrecordedagainontherepurchaseofapproximately$3million,whichisincludedinOther,netintheCompany'sConsolidatedStatementofOperations.
$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.
AtJuly1,2016,futureprincipalpaymentsonlong-termdebtwereasfollows(inmillions):
87
FiscalYear Amount
2017 $ —
2018 —
2019 800
2020 —
2021 —
Thereafter 3,333
$ 4,133