Rackspace Technology (RXT) Announces Proposed $550 Million Notes Offering by Rackspace Technology Global

February 2, 2021 7:18 AM EST
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Rackspace Technology™ (NASDAQ: RXT) today announced that its wholly owned subsidiary Rackspace Technology Global, Inc. (the “Company”) is proposing to issue $550.0 million aggregate principal amount of First-Priority Senior Secured Notes due 2028 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The offering is subject to market conditions and other factors.

The Company intends to use the net proceeds from the offering, together with borrowings under a new $2,300.0 million senior secured first lien term loan facility (expected to be upsized from the previously announced $2,200.0 million), to repay the borrowings outstanding under its existing term loan facility, to pay related fees and expenses and for general corporate purposes.

The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, and outside the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act. The Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state securities laws.



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