Open Text Closes $1 Billion Notes Offering, Extends Credit Facility

11:25 AM EDT, 10/01/2026 (MT Newswires) -- Open Text (OTEX) said Thursday it closed a combined $1 billion offering of 6.7% senior secured notes due 2031 and 7.15% senior secured notes due 2033. The company extended the maturity of its revolving credit facility to Oct. 1, 2031 from Dec. 19, 2028. Net proceeds, together with cash on hand, will fund the redemption in full of $1 billion in 6.9% notes due 2027 and a tender offer for up to $300 million of 3.875% notes due 2028, with both expected to settle Friday, according to the company. Shares of the company were down 1% in Thursday trading. Price: 22.19, Change: -0.23, Percent Change: -1.03