OpenText completes $1.0 billion senior secured notes offering and extends revolver maturity to 2031

OPEN TEXT CORP

OpenText issued $500M of 6.700% senior secured notes due 2031 and $500M of 7.150% senior secured notes due 2033, totaling $1.0B.
Net proceeds plus cash will redeem all $1.0B of 6.900% senior secured notes due 2027 and fund a tender offer for up to $300M of 3.875% senior notes due 2028.
The third amendment to OpenText's revolver extends maturity from December 19, 2028 to October 1, 2031.
The notes are guaranteed on a senior secured basis by existing wholly-owned subsidiaries and secured on the same basis as the revolver, term loan, and 2027 notes.
The transactions are expected to settle on October 2, 2026; the notes were issued under Rule 144A and Regulation S.

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