Rackspace Nears $275M in Restructuring Plan with Creditors: Report - Rackspace Tech (NASDAQ:RXT)

Published on 12 Mar 2024 on Benzinga

Rackspace Nears $275M in Restructuring Plan with Creditors: Report - Rackspace Tech (NASDAQ:RXT)

Rackspace Technology Inc RXT is reportedly finalizing a deal with its creditors to provide the company with a new influx of cash, lighten its debt load, and reorganize the repayment hierarchy.

This arrangement would grant Rackspace approximately $275 million in new funds, prioritized above current borrowings for repayment.

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