Open Text Prices Two Senior Secured Notes Offering Totalling $1 Billion

02:08 PM EDT, 09/24/2026 (MT Newswires) -- Open Text (OTEX.TO, OTEX) priced an offering of $500 million of 6.700% senior secured notes due 2031 and $500 million of 7.150% senior secured notes due 2033, it said late Wednesday. The notes will be guaranteed on a senior secured basis by the company's existing wholly owned units that are guarantors or co-obligors under its senior secured credit facilities, term loan credit agreement and its 6.900% Senior Secured Notes due 2027, it said. Closing of the offering is expected on Oct. 1, subject to some conditions. Proceeds, together with cash on hand, will be used to fund, the redemption in full of the outstanding $1.0 billion principal amount of its 2027 notes, and the consideration for any of its outstanding 3.875% senior notes due 2028 accepted for purchase in the tender offer by the company for such 2028 notes, it added. Shares of the company were last seen down 1.9% at CA$31.92 on the Toronto Stock Exchange. Price: 31.89, Change: -0.65, Percent Change: -2.00