Open Text Closes $1 Billion Notes Offering, Extends Credit Facility
MT Newswires Live
Yesterday
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.