OpenText Announces Proposed Offerings of Senior Unsecured Fixed Rate Notes to Redeem Outstanding 2026 Notes

Open Text Corporation (NASDAQ: OTEX) (TSX: OTEX) ("OpenText" or the "Company") announced today proposed offerings of $1.0 billion in total aggregate principal amount of senior unsecured fixed rate notes by OpenText and Open Text Holdings, Inc., a wholly-owned indirect U.S. subsidiary of OpenText ("OTHI").

OpenText logo (PRNewsfoto/Open Text Corporation) (PRNewsfoto/Open Text Corporation)

OpenText intends to use the substantial portion of the net proceeds from the offerings to (i) redeem in full the outstanding $850 million aggregate principal amount of OpenText's 5.875% notes due 2026 (the "2026 Notes") and pay the make-whole premium of $25 million that will be paid in connection with such redemption of the 2026 Notes and (ii) pay related fees and expenses; and OpenText expects to use the balance of the net proceeds for general corporate purposes, including potential future acquisitions.

The proposed offerings consist of OpenText's senior unsecured fixed rate notes due 2029 (the "OTC notes"), guaranteed initially on a senior unsecured basis by OpenText's existing wholly-owned subsidiaries that borrow or guarantee OpenText's obligations under its existing senior credit facilities, and OTHI's senior unsecured fixed rate notes due 2031 (the "OTHI notes" and collectively with the OTC notes, the "notes"), guaranteed on a senior unsecured basis by OpenText and initially guaranteed by OpenText's existing wholly-owned subsidiaries (other than OTHI) that borrow or guarantee OpenText's obligations under its existing senior credit facilities. The precise timing, size and terms of the offerings (including the size of each offering) are subject to market conditions and other factors.

The notes and related guarantees will not be registered under the Securities Act of 1933, as amended (the "Securities Act"). The notes and related guarantees may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain persons in offshore transactions in reliance on Regulation S under the Securities Act. The notes and related guarantees will be offered in Canada under available prospectus exemptions.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes and related guarantees. Any offers of the notes and related guarantees will be made only by means of a related private offering memorandum with respect to such notes and related guarantees.

This press release shall not constitute a notice of redemption under the indenture governing the 2026 Notes, dated as of May 31, 2016 . Any such notice, if made, will only be made in accordance with the provisions of the indenture governing the 2026 Notes. There can be no assurances as to whether OpenText will actually implement any such redemption.

About OpenText
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions.

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the proposed offerings and the proposed redemption, and the operating environment, economies and markets in which the Company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the Company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the Securities and Exchange Commission and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Copyright ©2021 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved.

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SOURCE Open Text Corporation

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Information Management Experts Gather to Explore How AI Elevates Human Potential at OpenText World Europe 2024

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, is set to host OpenText World Europe 2024 April 15 18, 2024, with a series of in-person customer conferences taking place in London Munich and Paris . The event series will bring together industry leaders, innovators, and customers to discuss how technology can enable global organizations to build for growth, experience, and sustainability.

OpenText logo (PRNewsfoto/Open Text Corporation)

"AI is revolutionizing the business world as a force multiplier for human potential. At the center of this force is trust and authenticity. Our enterprise customers need trusted, governed data to fuel the possibilities of AI. When advanced cloud technologies are applied securely to private data, organizations can get newfound value from their existing IP and begin to build trust with autonomous decisions from AI," said Mark J. Barrenechea , CEO and CTO, OpenText. "At OpenText World Europe, we look forward to showcasing how our OpenText Aviator solutions are empowering organizations to redefine roles and elevate their employees to be their best."

OpenText World Europe will provide an inspiring overview of the company's next generation developments in the cloud and at the edge. From IOT to AI-persona assistants, the innovations to be unveiled will inspire attendees to reimagine their daily work and experiences. From the CIO to the software quality engineer to the IT service manager to insurance claims agent – tomorrow's workplace will be transformed by bringing together automation and AI to disrupt our traditional cultures of knowledge.

Attendees will also learn more about OpenText Aviator – the company's family of generative AI capabilities that leverage large language models (LLMs) and private data sets to solve specific use cases. Attendees will learn first-hand from experts detailing their experiences implementing industry-specific solutions, and challenges they overcame along the way.

Event Dates:

  • London : April 15th , QEII Centre, Central London
  • Munich : April 16-17th , MOC – Event Center Messe Munich
  • Paris : April 18th , Maison de la Chimie, Central Paris

Event Highlights:

  • A keynote from OpenText CEO & CTO Mark J. Barrenechea, on AI as a force multiplier for human potential and how our next generation of information management, Edge, AI, and Security are solving tomorrow's most complex problems.
  • A keynote from Chief Product Officer Muhi Majzoub, who will dive into OpenText's cloud roadmap with Titanium X to showcase how security, trust, and governance are at the center of serving our customers.
  • Distinguished customer speakers including Carsten Trapp , CIO, Carl Zeiss , set to take center stage in Munich , and Leon Van Niekerk , Senior Manager of Test Center of Excellence, Pick-N-Pay, presenting in both London and Paris , will demonstrate how their work with OpenText has propelled their organizations forward and provide their unique industry perspectives on the future challenges and opportunities presented by AI.
  • Guest speaker Bertrand Piccard, the force behind Solar Impulse, the first airplane to fly around the world without a drop of fuel, will highlight the environmental protection goals of his recently launched World Alliance for Efficient Solutions, sharing how he envisions ecology through the lens of profitability, promoting clean and profitable solutions that are "logical" more than just "eco-logical".
  • Breakout sessions featuring updates on the combination of Aviator with each of the OpenText clouds – AI & Analytics, Content Services, Business Network, Digital Experience, Cybersecurity, IT Operations Management (ITOM) and Application Delivery Management (ADM).
  • Turbo talks that dive into the market trends, challenges, and areas of strategic interest that matter most to organizations in Europe.
  • Interactive labs offering the opportunity to experience the latest OpenText innovations, complete training courses, and contribute to product roadmaps.
  • Extensive networking opportunities to connect with OpenText experts, partners and industry peers throughout all the events.

Registration is now open, and the full agendas are available for OpenText World Europe – London , Munich and Paris . Come reimagine work with OpenText and chart your journey to the Future of AI.

About OpenText

OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com

Connect with us:

OpenText CEO Mark Barrenechea's blog

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Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website ( https://investors.opentext.com ). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.

Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit https://www.opentext.com/patents .

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SOURCE Open Text Corporation

News Provided by PR Newswire via QuoteMedia

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