Rackspace Technology Announces Pricing of $550 Million Notes Offering by Rackspace Technology Global
February 02 2021 - 6:31PM
Rackspace Technology™ (NASDAQ: RXT) today announced that its
wholly owned subsidiary Rackspace Technology Global, Inc. (the
“Company”) has priced its offering of $550.0 million aggregate
principal amount of 3.50% First-Priority Senior Secured Notes due
2028 (the "Notes") at an issue price of 100.000%. The closing of
the offering is expected to occur on February 9, 2021 and is
subject to customary closing conditions.
The Company intends to use the net proceeds from
the offering, together with borrowings under a new senior secured
first lien term loan facility, 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 of 1933, as amended
(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 can 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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