OpenText Announces Pricing Terms and Results of Cash Tender Offer
Key Highlights
- ➤OpenText (OTEX) received $697,563,000 tenders for $300,000,000 maximum
- ➤Tender Offer Consideration set at $981.71 per $1,000 principal amount
- ➤3.875% Senior Notes due 2028 subject to 43.047752% proration
- ➤Settlement expected October 2, 2026, including accrued unpaid interest
- ➤OpenText expects October 1 senior secured notes closing to fund redemptions
Expert Statements
Greg Secord, Vice President, Global Head of Investor Relations, Open Text Corporation
“As of the date of this press release, the Company expects to close its concurrent senior secured notes offering on October 1, 2026 and intends to use the net proceeds thereof, together with cash on hand, to fund, in the aggregate (i) the redemption in full of its outstanding 6.900% Senior Secured Notes due 2027 (the "2027 Notes"), including the payment of the applicable redemption premium, accrued and unpaid interest and related costs and expenses, and (ii) the consideration for any of the Bonds accepted for purchase in the Tender Offer, up to the Aggregate Maximum Tender Amount, plus accrued interest and related costs and expenses, both of which are expected to settle on October 2, 2026.”
OpenText Announces Pricing Terms and Results of Cash Tender Offer PR Newswire
WATERLOO, ON, Sept. 30, 2026 /PRNewswire/ -- Open Text Corporation ("OpenText" or the "Company") (NASDAQ: OTEX), (TSX: OTEX) today announced the pricing terms and results of its previously announced tender offer (the "Tender Offer") to purchase for cash up to $300,000,000 aggregate principal amount of its outstanding 3.875% Senior Notes due 2028 (the "Bonds") (subject to increase or decrease by the Company, the "Aggregate Maximum Tender Amount"), upon the terms and subject to the conditions set forth in the Offer to Purchase, dated September 23, 2026, as amended by the Company's press release dated September 25, 2026 (the "Offer to Purchase").
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