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OpenText completes US$1 billion senior secured notes offering as part of Micro Focus acquisition financing

On December 1, 2022, Open Text Corporation (Open Text or the Company) (NASDAQ: OTEX) (TSX: OTEX) announced the closing of its offering (the Notes Offering) of US$1 billion principal amount of 6.90 per cent senior secured fixed rate notes due 2027 in connection with its proposed acquisition (the “Acquisition") of Micro Focus International plc. The net proceeds from the Notes Offering, borrowings under the term loan facility due 2029 and the Company's existing revolving credit facility, and cash on hand will be used to fund the Acquisition.

OpenText, headquartered in Waterloo, Ontario, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions.

BLG served as Canadian counsel representing Barclays Capital Inc., as lead underwriter, with a team led by Cameron A. MacDonald (Securities) and Gus Karantzoulis (Banking) and that included Jonas Farovitch (Securities) and Danny Lang (Tax).