News Highlights: Rackspace Technology Announces awards of $ 550 million in bonds offered by Rackspace Technology Global Nasdaq: RXT
SAN ANTONIO, Feb 2, 2021 (GLOBE NEWSWIRE) – 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 in 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 take place on February 9, 2021 and is subject to customary closing conditions.
The Company intends to use the net proceeds of the offering, together with loans under a new senior secured first-term loan, to repay the outstanding loans under its existing loan in due course, 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 purchasers 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 under 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 without an effective registration statement or an applicable exemption from registration requirements or a transaction that is not subject to the registration requirements of the Securities. Act of any state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and will not constitute an offer, solicitation or sale in any jurisdiction where such offer, 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 on all major technology platforms, regardless of the technology stack or implementation model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products and apply innovative technologies.
Rackspace Technology Safe Harbor Statement:
Some of the statements in this press release are “forward-looking statements” that do not directly or exclusively relate to historical facts. The forward-looking statements in this press 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 the company’s control. Known risks include those included in Rackspace Technology, Inc. filings with the United States Securities and Exchange Commission. Because actual results may differ materially from the Company’s intentions, plans, expectations, assumptions and beliefs about the future, you are urged to review all forward-looking statements in this press release with caution. The company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
IR Investor Relations Contact [email protected]
PR Contact: Natalie Silva Rackspace Technology Corporate [email protected]
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