Rackspace Technology (RXT) just unveiled an announcement.
Rackspace Technology, Inc. has initiated a Public Term Loan Exchange, allowing lenders to swap existing term loans for new loans, potentially exchanging $592.3 million in current debt for $418.8 million in new debt. This move is expected to be followed by an exchange offer for certain senior secured notes, with both offers aiming to streamline the company’s financial structure. While this is a significant financial maneuver, the company has made it clear that this information should not be used as a basis for any investment decisions, and participation in the loan exchange is subject to specific terms outlined in the relevant agreements.
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