OpenText Announces Tender Offer Pricing and Results
OpenText Corporation has finalized the pricing terms and results for its cash tender offer, agreeing to purchase up to $300 million of its 3.875% Senior Notes due 2028.
Waterloo, Ontario – OpenText Corporation (NASDAQ: OTEX, TSX: OTEX) announced the pricing terms and results of its previously disclosed cash tender offer. The offer aimed to purchase up to $300 million in aggregate principal amount of the company's outstanding 3.875% Senior Notes due 2028.
The tender offer expired on September 30, 2026. Holders who validly tendered their notes and had them accepted for purchase will receive $981.71 per $1,000 principal amount, excluding accrued and unpaid interest. The company will accept for payment up to the Aggregate Maximum Tender Amount, with tenders exceeding this amount subject to a proration factor of approximately 43.05%.
Payments for the accepted notes will include accrued interest up to the settlement date, which is expected to be October 2, 2026. The transaction was facilitated by dealer managers RBC Capital Markets, LLC and Citigroup Global Markets Inc. This offer is part of a broader financial strategy, which also includes plans to redeem the company's 6.900% Senior Secured Notes due 2027.
OpenText intends to use proceeds from a concurrent senior notes offering, along with cash on hand, to fund both the redemption of the 2027 notes (including any applicable premium) and the consideration for the notes accepted in the tender offer. Full details of the tender offer are available in the Offer to Purchase document distributed to noteholders.