Rackspace Technology Announces Proposed $550 Million Notes Offering by Rackspace Know-how World
Press launch content from Globe Newswire. The AP information team was not associated in its generation.
SAN ANTONIO, Feb. 02, 2021 (World NEWSWIRE) — Rackspace Technology™ (NASDAQ: RXT) currently declared that its wholly owned subsidiary Rackspace Know-how Worldwide, Inc. (the “Company”) is proposing to situation $550. million mixture principal total of To start with-Precedence Senior Secured Notes thanks 2028 (the “Notes”) in a personal supplying that is exempt from the registration needs of the Securities Act of 1933, as amended (the “Securities Act”). The presenting is topic to market ailments and other factors.
The Enterprise intends to use the net proceeds from the providing, alongside one another with borrowings below a new $2,300. million senior secured initially lien expression personal loan facility (predicted to be upsized from the formerly introduced $2,200. million), to repay the borrowings excellent below its current phrase personal loan facility, to pay out associated costs and charges and for standard corporate functions.
The Notes are remaining available only to folks moderately considered to be certified institutional prospective buyers in reliance on Rule 144A below the Securities Act, and outdoors the United States, only to non-U.S. investors pursuant to Regulation S below the Securities Act. The Notes will not be registered below the Securities Act or any condition securities legislation and may not be offered or marketed in the United States absent an effective registration statement or an applicable exemption from registration prerequisites or a transaction not subject to the registration necessities of the Securities Act or any condition securities legal guidelines.
This press release shall not represent an offer you to promote or the solicitation of an present to invest in any protection and shall not represent an offer you, solicitation or sale in any jurisdiction in which these providing, solicitation or sale would be illegal.
About Rackspace Engineering
Rackspace Know-how is a main finish-to-finish multicloud technological know-how services corporation. We style and design, build and operate our customers’ cloud environments throughout all key know-how platforms, irrespective of technologies stack or deployment model. We spouse with our clients at every stage of their cloud journey, enabling them to modernize purposes, construct new merchandise and adopt ground breaking technologies.
Rackspace Technological innovation Harmless Harbor Statement:
Some of the statements in this information launch constitute “forward-seeking statements” that do not directly or exclusively relate to historical info. The forward-wanting statements manufactured in this launch replicate the Company’s intentions, ideas, expectations, assumptions and beliefs about foreseeable future activities and are issue to pitfalls, uncertainties and other variables, numerous of which are outside the house of the Company’s command. Identified threats include, amongst others, the risks bundled in Rackspace Technology, Inc.’s filings with the U.S. Securities and Exchange Commission. Due to the fact genuine effects could vary materially from the Company’s intentions, options, expectations, assumptions and beliefs about the upcoming, you are urged to look at all forward-searching statements contained in this push launch with warning. The Enterprise does not undertake any obligation to update or revise any forward-hunting statements, whether as a result of new data, long term events or normally.
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PR Get in touch with
Natalie Silva
Rackspace Technology Corporate Communications
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