---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-211560"
form_type: "8-K"
ticker: "OTEX"
cik: "0001002638"
company_name: "OPEN TEXT CORP"
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T09:52:40.046414+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# OpenText reprices term loan due 2030, reduces interest margin by 75 bps

## Summary
- Term Loan Amendment reduces applicable margin by 0.75% to Term SOFR plus 2.75% (including SOFR adjustment).
- Loans now bear rate of Term SOFR + 2.75% applicable margin, down from prior 3.50%.
- CEO cites strong demand and cash flow as factors enabling the improved pricing.
- Term loan matures in 2030; amendment applies to the existing $X billion facility (amount not specified).

## SEC filing metadata
- accession: 0001193125-23-211560
- form_type: 8-K
- ticker: OTEX
- cik: 0001002638
- company_name: OPEN TEXT CORP
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1002638/000119312523211560/0001193125-23-211560-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1002638/000119312523211560/d514577d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-211560
- JSON: https://secwatch.observer/filing/0001193125-23-211560.json
- Plain text: https://secwatch.observer/filing/0001193125-23-211560.txt

## Key facts
- Debt Financings
  OPEN TEXT CORP amended term loan with Barclays Bank PLC at Term SOFR plus an applicable margin of 2.75% and the SOFR Adjustment.
  - Instrument: term loan
  - Counterparty: Barclays Bank PLC
  - Rate: Term SOFR plus an applicable margin of 2.75% and the SOFR Adjustment
  - Event: amendment
  source text: On August 14, 2023, Open Text Corporation (“OpenText” or the “Company”) and certain of its subsidiaries entered into an amendment (the “Term Loan Amendment”) to the Company’s Credit Agreement, dated as of August 25, 2022 (the “Existing Term Loan Credit Agreement", and as amended, supplemented or otherwise modified as of the effective date of the Term Loan Amendment, including by the Term Loan Amendment, the “Term Loan Credit Agreement”), among the Company, the lenders party thereto, the subsidiary guarantors party thereto and Barclays Bank PLC, as administrative agent and collateral agent. The Term Loan Amendment reduces the Applicable Margin (as defined in the Term Loan Credit Agreement) by 0.75% over the remainder of the Term Loan.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1002638/000119312523211560/0001193125-23-211560-index.htm
- Material Agreements
  OPEN TEXT CORP amended Term Loan Amendment with Barclays Bank PLC, as administrative agent and collateral agent, and the lenders and subsidiary guarantors party thereto (effective 2023-08-14).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Barclays Bank PLC, as administrative agent and collateral agent, and the lenders and subsidiary guarantors party thereto
  - Effective: 2023-08-14
  source text: On August 14, 2023, Open Text Corporation (“OpenText” or the “Company”) and certain of its subsidiaries entered into an amendment (the “Term Loan Amendment”) to the Company’s Credit Agreement, dated as of August 25, 2022 (the “Existing Term Loan Credit Agreement", and as amended, supplemented or otherwise modified as of the effective date of the Term Loan Amendment, including by the Term Loan Amendment, the “Term Loan Credit Agreement”), among the Company, the lenders party thereto, the subsidiary guarantors party thereto and Barclays Bank PLC, as administrative agent and collateral agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1002638/000119312523211560/0001193125-23-211560-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.