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OpenText Announces the Pricing of Reopening of Senior Unsecured Fixed Rate Notes
OpenText Announces the Pricing of Reopening of Senior Unsecured Fixed Rate Notes O...
About this update from Open Text Corporation
[{"type":"text","content":"\n\n\n\nOpenText Announces the Pricing of Reopening of Senior Unsecured Fixed Rate Notes\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nOpenText Announces the Pricing of Reopening of Senior Unsecured Fixed Rate Notes\nCanada NewsWire\nWATERLOO, Ontario, Dec. 15, 2016\n\n\n\nWATERLOO, Ontario, Dec. 15, 2016 /CNW/ -- Open Text Corporation (NASDAQ: OTEX) (TSX: OTC) (\"OpenText\" or the \"Company\") announced today that it has priced its offering (the \"Offering\") of an additional U.S. $250 million aggregate principal amount of its 5.875% senior unsecured notes due 2026 (the \"notes\"), guaranteed on a senior unsecured basis by OpenText's existing and future wholly-owned subsidiaries that borrow or guarantee the Company's obligations under its existing senior credit facilities.  The notes are being issued at a price equal to 102.75% of their face value (plus accrued interest from December 1, 2016), with yield to maturity of 5.497%.  The notes will have identical terms, be fungible with and be a part of a single series with the U.S. $600 million principal amount of the 5.875% senior unsecured notes due 2026 issued by the Company on May 31, 2016.  The Offering is expected to close on December 20, 2016, subject to customary closing conditions.  \n\nOpenText intends to use the net proceeds from the Offering to finance a portion of the purchase price for its previously announced acquisition of Dell EMC's Enterprise Content Division (the \"Acquisition\").  The Offering is not contingent on the closing of the Acquisition.  If for any reason the Acquisition does not close, OpenText intends to use the net proceeds from the Offering for general corporate purposes, which may include the financing of future acquisitions and the repayment of existing indebtedness.\n\nThe 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 reasonabl...