Financing ·
Open Text issues $1B in senior secured notes to redeem $1B of outstanding debt and buy back up to $300M more
OTEXOpen Text Corp
Open Text Corporation issued $1 billion in aggregate principal amount of senior secured notes, comprising $500 million of 6.700% notes due October 2031 and $500 million of 7.150% notes due October 2033. The company simultaneously amended its revolving credit facility to extend the maturity date from December 19, 2028, to October 1, 2031. OpenText intends to use the net proceeds and cash on hand to redeem in full $1 billion of outstanding 6.900% Senior Secured Notes due 2027 and to purchase up to $300 million of its 3.875% Senior Notes due 2028 via a tender offer, with settlement expected on October 2, 2026. OpenText is a global leader in enterprise data management for AI.