---
schema_version: "secwatch.filing_event.v1"
accession: "0001810019-24-000055"
form_type: "8-K"
ticker: "RXT"
cik: "0001810019"
company_name: "Rackspace Technology, Inc."
filed_at: "2024-03-26T23:59:59+00:00"
generated_at: "2026-06-04T07:58:31.246519+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Rackspace completes public term loan exchange; over 97% of existing debt refinanced

## Summary
- On March 26, 2024, closed Public Term Loan Exchange: ~$530M Existing Term Loans exchanged/cancelled, ~$375M New FLSO Term Loans issued.
- Combined with March 12 Private Exchange ($1.312B), over 97% of ~$2.1812B outstanding Existing Term Loans were exchanged or cancelled.
- New FLSO Term Loans are under a new First Lien Credit Agreement with Citibank, N.A. as administrative agent.
- New Borrower is Rackspace Finance, LLC, a new subsidiary of the Company.

## SEC filing metadata
- accession: 0001810019-24-000055
- form_type: 8-K
- ticker: RXT
- cik: 0001810019
- company_name: Rackspace Technology, Inc.
- filed_at: 2024-03-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000055/0001810019-24-000055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000055/rxt-20240326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001810019-24-000055
- JSON: https://secwatch.observer/filing/0001810019-24-000055.json
- Plain text: https://secwatch.observer/filing/0001810019-24-000055.txt

## Key facts
- Debt Financings
  Rackspace Technology, Inc. incurred term loan of approximately $375 million aggregate principal amount with Citibank, N.A..
  - Instrument: term loan
  - Principal: approximately $375 million aggregate principal amount
  - Counterparty: Citibank, N.A.
  - Event: incurrence
  source text: On March 26, 2024, the Company closed the Public Term Loan Exchange, pursuant to which (i) approximately $530 million aggregate principal amount of remaining Existing Term Loans were exchanged or purchased for cancellation and (ii) approximately $375 million aggregate principal amount of New FLSO Term Loans were issued by the New Borrower under the New Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000055/0001810019-24-000055-index.htm

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