OpenText Prices $1 Billion Senior Secured Notes Offering
OpenText has priced an offering of $1 billion in senior secured notes. The company will use the proceeds to redeem outstanding 2027 notes and fund a tender offer for 2028 notes.
WATERLOO, ON – Open Text Corporation announced on September 23, 2026, that it has priced an offering of $1 billion in senior secured notes. The offering includes $500 million of notes due 2031 with a 6.700% interest rate and $500 million of notes due 2033 with a 7.150% interest rate.
The company intends to use the proceeds to fully redeem its outstanding $1 billion in 2027 senior secured notes. Additionally, funds will be allocated to a tender offer for a portion of its outstanding 2028 notes, up to a principal amount of $450 million.
The new notes and their guarantees will be secured on the same basis as OpenText's existing senior secured credit facilities and term loan agreement. The transaction is expected to close on October 1, 2026, subject to customary closing conditions.
OpenText provides data management software that helps organizations protect, govern, and activate their data. The company's technologies transform data into information with context to form the knowledge base for enterprise AI. OpenText's shares are traded on NASDAQ and TSX.