Rackspace Technological know-how Announces Pricing of $550 Million Notes Giving by Rackspace Technological innovation World-wide
Press launch written content from World Newswire. The AP news staff members was not involved in its development.
SAN ANTONIO, Feb. 02, 2021 (Globe NEWSWIRE) — Rackspace Technology™ (NASDAQ: RXT) these days declared that its wholly owned subsidiary Rackspace Technology Worldwide, Inc. (the “Company”) has priced its providing of $550. million combination principal sum of 3.50% Initial-Precedence Senior Secured Notes owing 2028 (the “Notes”) at an difficulty price tag of 100.000%. The closing of the supplying is expected to arise on February 9, 2021 and is subject to customary closing conditions.
The Organization intends to use the web proceeds from the giving, jointly with borrowings underneath a new senior secured 1st lien phrase financial loan facility, to repay the borrowings outstanding less than its existing term bank loan facility, to spend related service fees and costs and for typical company needs.
The Notes are being supplied only to individuals moderately thought to be certified institutional prospective buyers in reliance on Rule 144A beneath the Securities Act of 1933, as amended (the “Securities Act”), and exterior the United States, only to non-U.S. traders pursuant to Regulation S under the Securities Act. The Notes will not be registered less than the Securities Act or any condition securities laws and may not be provided or bought in the United States absent an helpful registration statement or an relevant exemption from registration prerequisites or a transaction not issue to the registration prerequisites of the Securities Act or any state securities laws.
This press release shall not represent an give to provide or the solicitation of an give to acquire any safety and shall not constitute an offer you, solicitation or sale in any jurisdiction in which these types of supplying, solicitation or sale would be unlawful.
About Rackspace Technological innovation
Rackspace Technological know-how is a major close-to-conclude multicloud technological know-how expert services corporation. We can layout, develop and run our customers’ cloud environments across all main technological innovation platforms, irrespective of engineering stack or deployment model. We companion with our clients at each individual stage of their cloud journey, enabling them to modernize programs, construct new products and solutions and adopt impressive systems.
Rackspace Technology Protected Harbor Statement:
Some of the statements in this information release constitute “forward-wanting statements” that do not straight or exclusively relate to historical details. The forward-on the lookout statements built in this launch mirror the Company’s intentions, plans, expectations, assumptions and beliefs about potential situations and are subject matter to dangers, uncertainties and other things, lots of of which are outdoors of the Company’s handle. Known threats consist of, among other individuals, the threats bundled in Rackspace Technology, Inc.’s filings with the U.S. Securities and Trade Commission. Due to the fact real benefits could differ materially from the Company’s intentions, options, anticipations, assumptions and beliefs about the foreseeable future, you are urged to view all forward-on the lookout statements contained in this push launch with caution. The Enterprise does not undertake any obligation to update or revise any ahead-seeking statements, irrespective of whether as a outcome of new details, future activities or in any other case.
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Natalie Silva
Rackspace Technology Company Communications
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