OpenText Corporation has amended its tender offer for its outstanding 3.875% Senior Notes due 2028. The aggregate maximum tender amount has been reduced from $450 million to $300 million in principal amount. The funding for the tender offer will come from the company's cash on hand and proceeds from a previously announced senior secured notes offering.
The withdrawal deadline for the tender offer has been moved to 5:00 p.m. New York City time on Tuesday, from Monday. The price determination date has been extended to 3:00 p.m. on Tuesday, and the expiration date falls on Tuesday at 5:00 p.m. The expected settlement date for bonds validly tendered at or before the expiration date and accepted for purchase is October 2, 2026.
All other terms and conditions of the tender offer remain unchanged, including the financing condition outlined in the original offer to purchase. The dealer managers for the tender offer are RBC Capital Markets, LLC and Citigroup Global Markets Inc., while Global Bondholder Services Corporation serves as the tender and information agent.
