Seagate Tech Executes Private Exchange to Retire Debt

2026-02-22 06:03:20

Seagate Technology (STX) recently completed private exchanges of $600 million in 3.50% Exchangeable Senior Notes due 2028, using cash and approximately 5.95 million ordinary shares. This transaction retired a significant portion of its debt, leaving $400 million outstanding, and strategically adjusted its capital structure. TipRanks’ AI Analyst, Spark, rates STX as Outperform due to improving fundamentals and a positive earnings outlook, despite some balance sheet risks and a relatively high valuation.

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