Latham & Watkins Advises Seagate Technology in US$2.8 Billion Exchange Offers and Consent Solicitations

Seagate Technology Holdings plc (Seagate) (NASDAQ: STX) has settled its exchange offers (the Exchange Offers) for any and all outstanding notes of certain eight series issued by Seagate HDD Cayman (collectively, the Old Notes), in exchange for new notes issued by Seagate Data Storage Technology Ptd. Ltd, and related consent solicitations from holders of the Old Notes to amend the indenture governing each series of Old Notes to, among other things, eliminate substantially all of the restrictive covenants in such indenture. The aggregate amount of Old Notes validly tendered in the exchange offer (across all series of Old Notes) was US$2.8098 billion. The final settlement of the Exchange Offers took place on June 30, 2025.

Latham & Watkins LLP represents Seagate Technology in the transaction with a corporate deal team led by Los Angeles partner Steven Stokdyk, New York partner Andrew Baker, and Singapore partners Farhana Sharmeen and Timothy Hia, with associates Sara Johnson, Yulong Li, and Bradford Taylor. Advice was also provided on tax matters by New York partners Bora Bozkurt and Aaron Bernstein, with associate Farrah Yan.