Rackspace Technology Cash Tender Offer

Davis Polk advised the dealer manager in connection with a cash tender offer by Rackspace Technology Global, Inc., an indirect subsidiary of Rackspace Technology, Inc., for up to $600 million aggregate principal amount of Rackspace Technology Global, Inc.’s outstanding 8.625% senior notes due 2024.

Rackspace Technology is a leading end-to-end multicloud technology services company. Rackspace Technology designs, builds and operates its customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. Rackspace Technology partners with its customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies.

The Davis Polk corporate team included partners Michael Kaplan and Emily Roberts and associates Beth LeBow and Paula Gergen. Partner Mario J. Verdolini and associate Eitan Ulmer provided tax advice. Members of the Davis Polk team are based in the Northern California and New York offices.