Financing ·
Open Text buys back $300M of 3.875% senior notes due 2028 at $981.71 per $1,000 principal amount
OTEXOpen Text Corp
Open Text Corporation announced the pricing and results of its cash tender offer to purchase up to $300,000,000 in aggregate principal amount of its outstanding 3.875% Senior Notes due 2028. Valid tenders totaled $697,563,000, resulting in a proration factor of approximately 43.05%. The tender offer consideration was set at $981.71 per $1,000 principal amount, based on a fixed spread of +50 basis points over the reference U.S. Treasury yield of 4.773%. Settlement is expected on October 2, 2026. The company intends to use net proceeds from a concurrent senior secured notes offering and cash on hand to fund this tender offer and redeem in full its outstanding 6.900% Senior Secured Notes due 2027. OpenText operates as a global leader in enterprise data management for AI.