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Seagate Tech ( (STX) ) just unveiled an update.
On January 30, 2025, Seagate Technology Holdings plc entered into a new $1.3 billion credit agreement, replacing its previous 2019 credit agreement. This strategic financial move, involving several major banks, offers Seagate an unsecured revolving credit facility until 2030, enhancing its financial flexibility. The agreement includes provisions for letters of credit and swingline loans, with interest rates tied to corporate credit ratings. The comprehensive covenant structure and guarantee agreement by Seagate and its subsidiaries ensure robust financial oversight and obligations management, potentially reinforcing Seagate’s market position and stakeholder confidence.
More about Seagate Tech
Seagate Technology Holdings plc operates in the data storage industry, specializing in the manufacture of hard disk drives and storage solutions. The company focuses on providing these products to both consumer and enterprise markets.
YTD Price Performance: 11.54%
Average Trading Volume: 2,864,737
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $20.4B
Find detailed analytics on STX stock on TipRanks’ Stock Analysis page.
