secwatch.observer — SEC 8-K summary
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Issuer:     Rackspace Technology, Inc. (RXT)
CIK:        0001810019
Form:       8-K
Filed at:   2024-03-26T23:59:59+00:00
Accession:  0001810019-24-000055
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810019/000181001924000055/0001810019-24-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810019/000181001924000055/rxt-20240326.htm
  HTML page:      https://secwatch.observer/filing/0001810019-24-000055

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