---
schema_version: "secwatch.filing_event.v1"
accession: "0001810019-24-000029"
form_type: "8-K"
ticker: "RXT"
cik: "0001810019"
company_name: "Rackspace Technology, Inc."
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T23:13:44.277053+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Rackspace closes $1.9B debt exchange, cuts >$375M debt, extends maturities to 2028

## Summary
- Exchanged $331.4M of 3.50% secured notes and $1.59B of term loans with holders representing >64% and >72% of each class.
- Issued $267.3M new 3.50% secured notes and $1.31B new first-lien second-out term loans, both maturing May 2028.
- Eliminated over $375M of debt and extended $1.58B of total debt maturity to May 2028.
- Received $275M new first-lien first-out term loans (SOFR+6.25%) and established a new $375M revolving credit facility.
- Expects to commence public exchange offers for remaining $182.3M notes and $592.3M term loans.

## SEC filing metadata
- accession: 0001810019-24-000029
- form_type: 8-K
- ticker: RXT
- cik: 0001810019
- company_name: Rackspace Technology, Inc.
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000029/0001810019-24-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000029/rxt-20240307.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001810019-24-000029
- JSON: https://secwatch.observer/filing/0001810019-24-000029.json
- Plain text: https://secwatch.observer/filing/0001810019-24-000029.txt

## Key facts
- Earnings Releases
  Rackspace Technology, Inc. reported financial results for the fiscal quarter and year ended December 31, 2023.
  - Period: the fiscal quarter and year ended December 31, 2023
  - Result: reported results
  source text: On March 12, 2024, the Company issued a press release announcing its financial results for the fiscal quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000029/0001810019-24-000029-index.htm
- Material Agreements
  Rackspace Technology, Inc. entered into First Lien Credit Agreement with Citibank, N.A., administrative agent and collateral agent (effective 2024-03-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., administrative agent and collateral agent
  - Effective: 2024-03-12
  source text: the New Borrower entered into a First Lien Credit Agreement, dated March 12, 2024 (the “ New Credit Agreement ”), among Rackspace Finance Holdings, LLC (“ New Holdings ”), the New Borrower, the lenders and issuing banks party thereto and Citibank, N.A., as administrative agent and collateral agent
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000029/0001810019-24-000029-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.