Rackspace launches exchange offer for 3.50% senior secured notes due 2028

Rackspace Technology, Inc.

Exchange offer for any and all existing 3.50% First-Priority Senior Secured Notes due 2028.
Early participation deadline March 28, 2024; per $1,000 principal: $700 new Exchange Notes + $0.7875 cash.
Late participation (by April 11): $670 new Exchange Notes + $0.7875 cash per $1,000 principal.
Separate Funding Offer: Participating holders can purchase New FLFO Term Loans at $101.02436 per $1,000 (1% OID).
New issuer Rackspace Finance, LLC; eligible holders must be QIBs or non-U.S. persons.

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