The offering includes $500 million in 6.700% notes due in 2031 and an additional $500 million in 7.150% notes due in 2033. OpenText intends to use these proceeds, supplemented by existing cash, to settle a $1 billion redemption of 6.900% senior secured notes due in 2027. The company is also financing a tender offer for up to $300 million of its 3.875% senior notes due in 2028. Both transactions are slated for settlement on October 2, 2026.
OpenText Raises $1 Billion in Debt Refinancing
Waterloo-based OpenText has finalized a $1 billion offering of senior secured notes, split equally between debt maturing in 2031 and 2033. The company is deploying the capital to clear outstanding obligations, specifically targeting the full redemption of its 2027 notes and a partial tender offer for its 2028 debt.
Beyond the debt restructuring, OpenText has amended its revolving credit facility, pushing its maturity date from December 2028 to October 2031. The new notes are secured by the same assets as the company’s existing credit agreements and are guaranteed by its wholly-owned subsidiaries. The issuance was restricted to qualified institutional buyers and non-U.S. persons under Rule 144A and Regulation S, bypassing public registration requirements in both the United States and Canada.
Comments (0)
No comments yet. Be the first!