Open Text Corporation announced on September 25, 2026, that it has amended the terms of its previously announced cash tender offer for its outstanding 3.875% Senior Notes due 2028. The company stated that it intends to use cash on hand, as well as proceeds from a previously announced concurrent senior secured notes offering, to fund the repurchase.
Under the amended terms, Open Text has reduced the Aggregate Maximum Tender Amount from $450 million to $300 million. The company has also extended key dates related to the tender process. The Withdrawal Deadline, Price Determination Date, and Expiration Date have all been moved to 5:00 p.m., New York City time, on September 30, 2026. The Settlement Date for bonds validly tendered and accepted is expected to be October 2, 2026.
Open Text has retained RBC Capital Markets, LLC and Citigroup Global Markets Inc. as Dealer Managers, and Global Bondholder Services Corporation as the Tender and Information Agent. The company emphasized that the Tender Offer is being made only by, and pursuant to, the terms of the Offer to Purchase, as modified by this press release.
