The Waterloo-based software firm confirmed the pricing of the new instruments, which carry interest rates of 6.700% and 7.150% respectively. Expected to close on October 1, 2026, the offering requires the notes to be guaranteed by the same subsidiaries currently backing the company's existing credit facilities and 2027 debt obligations.
OpenText Prices $1 Billion Debt Offering to Refinance 2027 and 2028 Notes
OpenText has priced a $1 billion offering of senior secured notes, split into $500 million due in 2031 and $500 million due in 2033. The company will use the proceeds to retire its outstanding 2027 notes and launch a tender offer for a portion of its 2028 debt.
Management intends to allocate the capital to cover the full $1 billion redemption of its 2027 senior secured notes, including premiums and accrued interest. Furthermore, the company is targeting the repurchase of up to $450 million in 3.875% senior notes due in 2028. These transactions remain subject to customary closing conditions and specific financing requirements outlined in the company’s formal offer documentation.
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