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OpenText Completes Repricing of Term Loan
OpenText Completes Repricing of Term Loan Canada NewsWire WATERLOO, ON ...
About this update from Open Text Corporation
[{"type":"text","content":"\n \n \n \n OpenText Completes Repricing of Term Loan\n \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 \n Canada NewsWire\n \n \n \n \n \n \n WATERLOO, ON\n \n \n ,\n \n \n Aug. 14, 2023\n \n \n /CNW/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX) (OpenText or the Company) today announced that it executed an amendment to its term loan facility due 2030 (the Term Loan). Under the amendment, the applicable interest rate margin on the Term Loan has been reduced 75 basis points and, as such, borrowings under the Term Loan currently bear a rate of interest equal to Term SOFR plus the SOFR adjustment and applicable margin of 2.75%.\n \n \n \n \n \n \n \n \n \n \"We are pleased to complete the re-pricing of our Term Loan. Due to strong demand, we were able to achieve a significant improvement to our pricing,\" said OpenText CEO & CTO\n \n Mark J. Barrenechea\n \n . \"We are the leader in Information Management. Our strong track record of growth and cash flows helped us to achieve this outcome.\"\n \n \n \n \n About OpenText\n \n \n \n \n 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.\n \n \n \n \n Cautionary Statement Regarding Forward-Looking Statements\n \n \n \n \n Certain statements in this announcement, including statements regarding the current rate of interest under the Term Loan and the Company's strong track record of growth and cash flows, may be considered forward-looking statements or information under applicable securities laws. These statements are based on the Company'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. The Company's assumptions, although considered reasonable by the Compa...