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Firm News

Julie Cohen
Director of Marketing and Communications

Cahill Represents Financing Sources in Over $4 Billion Going-Private Acquisition of Rackspace Hosting by Apollo

Date: 11/03/16

Cahill represented Deutsche Bank, Citigroup, Barclays, RBC and Credit Suisse, as joint book-running managers, and Apollo Global Securities as co-manager in an offering of $1,200,000,000 aggregate principal amount of 8.625% Senior Notes due 2024 by Rackspace Hosting, Inc., a leading global multi-cloud solutions provider in the business information technology market. Proceeds from the offering were used in connection with the going-private acquisition of Rackspace Hosting by affiliates of Apollo Global Management, LLC and certain co-investors.

Cahill also represented Citibank, as administrative agent, and Citigroup, Deutsche Bank, Barclays, RBC and Credit Suisse Securities, as lead arrangers, in connection with a $2,000,000,000 term loan and a $225,000,000 revolving credit facility for Rackspace Hosting. Proceeds were also used in connection with the acquisition as well as for general corporate purposes.