Rackspace eyeing deal to reduce debt load - report [Seeking Alpha]
PJT Partners Inc. Class A (PJT)
Last pjt partners inc. class a earnings: 4/28 06:50 am
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Source: Seeking Alpha
The San Antonio, Texas-based cloud technology company has been holding confidential discussions with some creditors to cut its obligations through an exchange of debt now trading at distressed levels, the report added The potential deal also calls for a fresh capital injection from lenders along with a maturity extension. The proposal will be open to all secured lenders, the report noted. Negotiations are underway, but terms have not been finalized. The company is getting advice from investment bank PJT Partners. Rackspace, which is backed by Apollo Global Management, went public in 2020 after raising $704M in its initial public offering. Previously, some creditors grew concerned that Rackspace could go for divisive debt maneuvers due to looseness in its creditor agreements. In response, last year a group of first-lien lenders retained Gibson Dunn & Crutcher for advice, the news agency previously reported. The creditor group also signed a cooperation agreement which binds t
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PJT
Earnings
- 2/6/24 - Beat
PJT
Sec Filings
- 3/22/24 - Form 4
- 3/22/24 - Form 4
- 3/22/24 - Form 4
- PJT's page on the SEC website