SAN ANTONIO, Feb. 02, 2021 (World NEWSWIRE) — Rackspace Technology™ (NASDAQ: RXT) today introduced that its wholly owned subsidiary Rackspace Technology World wide, Inc. (the “Company”) has priced its presenting of $550. million aggregate principal amount of money of 3.50% 1st-Priority Senior Secured Notes due 2028 (the “Notes”) at an concern rate of 100.000%. The closing of the giving is anticipated to take place on February 9, 2021 and is subject matter to customary closing problems.
The Business intends to use the internet proceeds from the offering, collectively with borrowings under a new senior secured initial lien phrase loan facility, to repay the borrowings superb less than its present expression loan facility, to spend connected charges and bills and for standard company applications.
The Notes are being provided only to individuals moderately considered to be capable institutional potential buyers in reliance on Rule 144A less than the Securities Act of 1933, as amended (the “Securities Act”), and outside the house the United States, only to non-U.S. traders pursuant to Regulation S below the Securities Act. The Notes will not be registered underneath the Securities Act or any condition securities laws and may perhaps not be supplied or offered in the United States absent an successful registration statement or an relevant exemption from registration requirements or a transaction not topic to the registration prerequisites of the Securities Act or any state securities legal guidelines.
This push release shall not constitute an present to market or the solicitation of an provide to buy any stability and shall not represent an present, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.
About Rackspace Technological innovation
Rackspace Technologies is a major stop-to-conclusion multicloud technology services enterprise. We can style and design, establish and work our customers’ cloud environments across all important technological innovation platforms, irrespective of technological innovation stack or deployment product. We associate with our buyers at each phase of their cloud journey, enabling them to modernize purposes, construct new items and undertake progressive systems.
Rackspace Know-how Risk-free Harbor Statement:
Some of the statements in this news launch constitute “forward-searching statements” that do not straight or exclusively relate to historical details. The forward-looking statements built in this launch mirror the Company’s intentions, options, expectations, assumptions and beliefs about potential situations and are issue to pitfalls, uncertainties and other factors, a lot of of which are outside of the Company’s command. Identified dangers consist of, among the others, the dangers incorporated in Rackspace Engineering, Inc.’s filings with the U.S. Securities and Trade Fee. Due to the fact precise final results could differ materially from the Company’s intentions, strategies, expectations, assumptions and beliefs about the foreseeable future, you are urged to view all forward-on the lookout statements contained in this press release with warning. The Company does not undertake any obligation to update or revise any forward-looking statements, regardless of whether as a final result of new information and facts, future situations or normally.
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