Rackspace expected to bring $650 million secured notes Feb. 1 week

By Paul A. Harris

Portland, Ore., Jan. 29 – Rackspace Technology Global Inc. is expected to come to market with a $650 million offering of secured notes during the Feb. 1 week, a bond trader said.

Citigroup Global Markets Inc. is expected to lead the deal.

The Windcrest, Tex.-based technology services company kicked off a $2.2 billion term loan (B1/B+) last Tuesday. Loan commitments are due on Feb. 2.

Proceeds will be used to pay off the company’s existing term loan B.

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