STX is trading 5.1% up today at $853.75 after Seagate completed a $185.9 million debt-for-equity exchange of its 3.50% Exchangeable Senior Notes due 2028.
- The transaction reduces corporate leverage and supports a stronger balance sheet for the company.
- Shares reached a fresh all-time high, attracting momentum and growth investors amid a broadly supportive, risk-on equity backdrop.