secwatch.observer — SEC 8-K summary
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Issuer:     OPEN TEXT CORP (OTEX)
CIK:        0001002638
Form:       8-K
Filed at:   2022-12-01T23:59:59+00:00
Accession:  0001193125-22-296208
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OpenText closes $1B notes offering, amends term loan for Micro Focus deal
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- $1B of 6.90% senior secured notes due 2027 issued; term loan commitments increased to $3.585B.
- Bridge loan commitments terminated as total $4.585B debt package for Micro Focus acquisition finalized.
- Net proceeds from notes, term loan, revolver, and cash to fund acquisition; closing targeted next quarter.
- Post-close long-term debt ~$9.3B (46% fixed, 54% floating); weighted avg rate 5.88%, maturity ~6 years.
- Targeting net leverage ratio below 3x within eight quarters following acquisition close.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1002638/000119312522296208/0001193125-22-296208-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1002638/000119312522296208/d408804d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-296208

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