Seagate to offer $1 billion in nine-year bonds
Seagate HDD Cayman, a unit of Seagate Technology plc
STX,
is planning to offer $1 billion in senor notes that mature in 2029, joining the many companies issuing record levels of debt during the pandemic. Proceeds will be used to repurchase stock and for general corporate purposes, including the repayment of debt, capex and other investments in its business. Share were not active premarket, but have gained 1.3% in the year to date, while the S&P 500
SPX,
has gained 13%.
