Financing ·
Open Text proposes $1.45B debt offering to redeem 2027 notes and tender up to $450M of 2028 bonds
OTEXOpen Text Corp
On September 23, 2026, Open Text Corporation announced the commencement of a proposed offering of senior secured notes and a cash tender offer for its outstanding 3.875% Senior Notes due 2028. The company intends to use net proceeds from the new debt issuance to fully redeem the $1.0 billion principal amount of its 6.900% Senior Secured Notes due 2027, including applicable premiums and interest. Additionally, the offering will fund a tender offer for up to $450 million in aggregate principal amount of the 2028 Notes. The transactions are subject to customary market conditions and financing contingencies. Open Text Corporation operates in the enterprise data management industry, providing software solutions for information governance and artificial intelligence.