SAN ANTONIO, Feb. 02, 2021 (World NEWSWIRE) — Rackspace Technology™ (NASDAQ: RXT) today declared that its wholly owned subsidiary Rackspace Technological innovation World wide, Inc. (the “Company”) is proposing to problem $550. million mixture principal sum of Very first-Priority Senior Secured Notes due 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 giving is topic to marketplace disorders and other variables.
The Company intends to use the web proceeds from the providing, together with borrowings below a new $2,300. million senior secured initially lien phrase bank loan facility (expected to be upsized from the beforehand announced $2,200. million), to repay the borrowings excellent beneath its existing time period loan facility, to pay back linked service fees and fees and for general corporate applications.
The Notes are getting provided only to individuals moderately believed to be qualified institutional potential buyers in reliance on Rule 144A under the Securities Act, and outdoors the United States, only to non-U.S. buyers pursuant to Regulation S below the Securities Act. The Notes will not be registered beneath the Securities Act or any point out securities guidelines and may not be available or marketed in the United States absent an efficient registration statement or an applicable exemption from registration demands or a transaction not topic to the registration necessities of the Securities Act or any point out securities legislation.
This push release shall not constitute an provide to market or the solicitation of an supply to obtain any stability and shall not represent an present, solicitation or sale in any jurisdiction in which this kind of giving, solicitation or sale would be unlawful.
About Rackspace Technologies
Rackspace Technologies is a main stop-to-close multicloud technological innovation providers enterprise. We design, make and function our customers’ cloud environments across all important technologies platforms, irrespective of know-how stack or deployment design. We companion with our prospects at each and every phase of their cloud journey, enabling them to modernize programs, build new merchandise and adopt revolutionary technologies.
Rackspace Technological know-how Harmless Harbor Assertion:
Some of the statements in this news release represent “forward-on the lookout statements” that do not right or exclusively relate to historical info. The ahead-hunting statements made in this launch mirror the Company’s intentions, strategies, anticipations, assumptions and beliefs about long term gatherings and are subject to pitfalls, uncertainties and other aspects, several of which are exterior of the Company’s manage. Acknowledged hazards involve, between many others, the risks provided in Rackspace Technological know-how, Inc.’s filings with the U.S. Securities and Exchange Fee. Due to the fact genuine results could differ materially from the Company’s intentions, designs, expectations, assumptions and beliefs about the future, you are urged to see all ahead-searching statements contained in this push launch with warning. The Enterprise does not undertake any obligation to update or revise any forward-hunting statements, no matter if as a final result of new details, upcoming gatherings or if not.
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