Rackspace (RAX) Updates on Takeover Financing Arrangements
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In part, the company noted that it expects its takeover by Inception Parent to close by Q416, following the receipt of shareholders approval.
Financing for the deal is as follows:
- $225 million: 5-year, senior secured revolving credit facility
- $2 billion: 7-year senior secured term loan B
- $1.2 billion: 9-year senior unsecured notes
- $1.258 million of new equity provided by Apollo-led syndicate.
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