OpenText issues conditional notice to redeem USD 1 billion notes due 2027 on Oct. 2

The redemption price equals the greater of par or a make-whole amount based on the Treasury rate plus 50 basis points, excluding accrued interest.

Interest stops accruing on the 2027 Notes from the redemption date if the redemption amount is paid.

OpenText is exploring a Rule 144A/Regulation S senior secured notes offering to finance the redemption.

OpenText issued a conditional notice to redeem USD 1 billion of its 6.900% Senior Secured Notes due 2027 on Oct. 2, 2026.

Redemption depends on funding, including net proceeds from one or more debt offerings; cash on hand may cover any shortfall.