Rackspace Technology Announces Proposed $550 Million Notes Offering by Rackspace Technology Global
02 February 2021 - 11:16PM
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.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any security and
shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offering, solicitation or sale would be
unlawful.
About Rackspace Technology
Rackspace Technology is a leading end-to-end
multicloud technology services company. We design, build and
operate our customers’ cloud environments across all major
technology platforms, irrespective of technology stack or
deployment model. We partner with our customers at every stage of
their cloud journey, enabling them to modernize applications, build
new products and adopt innovative technologies.
Rackspace Technology Safe Harbor
Statement:
Some of the statements in this news release
constitute “forward-looking statements” that do not directly or
exclusively relate to historical facts. The forward-looking
statements made in this release reflect the Company’s intentions,
plans, expectations, assumptions and beliefs about future events
and are subject to risks, uncertainties and other factors, many of
which are outside of the Company’s control. Known risks include,
among others, the risks included in Rackspace Technology, Inc.’s
filings with the U.S. Securities and Exchange Commission. Because
actual results could differ materially from the Company’s
intentions, plans, expectations, assumptions and beliefs about the
future, you are urged to view all forward-looking statements
contained in this press release with caution. The Company does not
undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
IR ContactInvestor
RelationsIR@rackspace.com
PR ContactNatalie SilvaRackspace Technology
Corporate Communicationspublicrelations@rackspace.com
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