Seagate obtains necessary consents from holders of 10% secured notes

By Jennifer Chiou

New York, March 22 - Seagate Technology International entered into the third supplemental indenture for its 10% senior secured second-priority notes due 2014 after having received consents from holders of a majority of the notes, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Seagate Technology, the designer, manufacturer and marketer of disk drives and storage devices, solicited consents following its previously disclosed decision to move its place of incorporation to form a new Irish public limited company.

The company is currently incorporated in the Cayman Islands.

The new Irish company will be the publicly traded parent of the Seagate group of companies.

Under the supplemental indenture:

• Seagate Technology was deleted from the definition of "company;"

• Seagate Technology plc was added to the definition of "company;" and

• Seagate Technology was added to the definition of "guarantor."

The solicitation ended on March 18.

Wells Fargo Bank, NA is the trustee.

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