Seagate Technology Holdings plc has finalized the settlement of its outstanding exchangeable senior notes. The transaction, executed by its subsidiary Seagate HDD Cayman, involved the redemption of approximately $150.7 million in principal value.
On September 8, 2026, the company settled all remaining obligations related to the 3.50% Exchangeable Senior Notes due 2028. Holders of the notes who did not submit them for exchange prior to the deadline received a cash payment. This payment included the principal amount of the notes plus accrued interest up to, but excluding, the redemption date.
For holders who submitted their notes for exchange prior to 5:00 p.m. (New York City time) on September 3, 2026, the settlement was completed on the redemption date. These exchanges were settled by paying the principal amount in cash and delivering ordinary shares of Seagate Technology Holdings plc to cover the remaining obligations. The company delivered a total of 1,647,862 ordinary shares to complete these exchanges.
In total, Seagate HDD paid approximately $150.97 million in cash, which included funds paid in lieu of fractional ordinary shares, and delivered the specified number of ordinary shares to settle all obligations associated with the notes.
