Hedge Funds Find It's Hit First or Get Hurt in Distressed Fights [Yahoo! Finance]
Rackspace Technology, Inc. (RXT)
Company Research
Source: Yahoo! Finance
(Bloomberg) -- First it was “drop downs.” Then came “priming.” Now, hedge fund titans have a new weapon of choice in the distressed debt battleground. Most Read from Bloomberg Trumpism Is Emptying Churches Iran's Better, Stealthier Drones Are Remaking Global Warfare Blackstone Nears Buyout of Skin-Care Company L'Occitane Ukraine Says It's Behind Blaze on Russian Warship in Baltic Sea Why India's South Rejects Modi — And Why It Matters Sometimes referred to as “non-pro rata uptiering,” companies facing financial trouble including Rackspace Technology Inc. and Apex Tool Group are inking restructuring deals that provide select creditors with better terms on debt swaps than others. It's the latest in a wave of maneuvers — often masked by banal legalistic terminology — that distressed funds and others managing billions of dollars are deploying to clean up at their rivals' expense. The new deals are typically structured as below-par debt exchanges at a variety of different
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RXT
News
- Rackspace Technology to Announce First Quarter 2024 Earnings May 9, 2024GlobeNewswire
- Why Rackspace Technology, Inc. (NASDAQ:RXT) Could Be Worth Watching [Yahoo! Finance]Yahoo! Finance
- Foundry for AI by Rackspace (FAIR) Partners with OhioX to Drive Responsible AI Adoption in Ohio [Yahoo! Finance]Yahoo! Finance
- Foundry for AI by Rackspace (FAIR) Partners with OhioX to Drive Responsible AI Adoption in OhioGlobeNewswire
- Tech's Cash Crunch Sees Creditors Turn 'Violent' With One Another [Financial Post (Toronto, Ontario, Canada)]Financial Post
RXT
Earnings
- 3/12/24 - Beat
RXT
Sec Filings
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form DEF
- RXT's page on the SEC website