SAN ANTONIO, February 02, 2021 (GLOBE NEWSWIRE) – Rackspace Technology ™ (NASDAQ: RXT) today announced that its wholly owned subsidiary Rackspace Technology Global, Inc. (the “Company”) has offered a price of $ 550.0 million of a total principal amount of 3.50% 2028 High Priority Secured Notes (the “Notes”) at a case price of 100,000%. The offer is expected to close on February 9, 2021 and is subject to normal closing conditions.
The Company intends to use the net profits from the offer, together with loans under a high first lease term loan facility, to repay the outstanding loans under the existing term loan facility. , to pay taxes and associated expenses and for general corporate purposes.
The Notes are offered only to persons who are reasonably believed to be the customers of a qualified institution subject to Rule 144A under the Securities Act of 1933, as amended (“the Securities Act”), and outside United States, except for non-U.S. investors in accordance with Rule S under the Securities Act. The Notes may not be registered under any Securities Act or state securities laws and may not be offered or sold in the United States without an effective registration statement or appropriate exemption from registration requirements or an action not subject to the Securities registration requirements. Any secure law or laws of any state.
This press release will not be an offer to sell or bid to buy any security and will not be an offer, bid or sale in any jurisdiction where such offer, bid or sale would be illegal. .
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, regardless of the technology stack or model used. We work with our customers at every stage of their cloud journey, enabling them to update applications, build new products and embrace innovative technologies.
Rackspace Technology Safe Harbor Statement:
Some of the statements in this press release are “forward-looking statements” that do not relate directly or entirely to historical facts. The positive statements made in this publication reflect intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainty and other factors, many of which are outside the control of the Company. Recognized risks include, among others, the risks covered in Rackspace Technology, Inc. movies. by the U.S. Securities and Exchange Commission. As actual results may differ significantly from the company’s future intentions, plans, expectations, assumptions and beliefs, you are encouraged to look carefully at all positive statements contained in this press release. The Company assumes no responsibility for updating or reviewing forward-looking statements, whether as a result of new information, future events or otherwise.
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