OpenText Completes $2 Billion Debt Reduction

Rhea-AI Summary

OpenText (NASDAQ: OTEX) announced the completion of a $2 billion debt reduction using proceeds from its AMC divestiture. $940 million was paid to terminate the Term Loan B due 2025, and $1.06 billion was used to reduce amounts outstanding under the Acquisition Term Loan due 2030.

OpenText, The Information Company™, offers leading information management solutions. All dollar amounts in U.S. dollars. Visit investors.opentext.com for more details.

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WATERLOO, ON, May 8, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX) today announced that, as previously indicated, it completed its $2 billion debt reduction using the net proceeds from its AMC divestiture, which reflects $940 million paid to terminate the Company's Term Loan B due 2025 and $1.06 billion to reduce amounts outstanding under its Acquisition Term Loan due 2030.

Please see investors.opentext.com for more information about the Company.

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.

Note: All dollar amounts in this press release are in U.S. dollars unless otherwise indicated.

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Copyright ©2024 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. For more information, visit: https://www.opentext.com/about/copyright-information.

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SOURCE Open Text Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did OpenText announce regarding debt reduction?

OpenText announced the completion of a $2 billion debt reduction using proceeds from its AMC divestiture.

How much was paid to terminate Term Loan B?

$940 million was paid to terminate Term Loan B.

What was the purpose of reducing amounts outstanding under the Acquisition Term Loan?

The purpose was to reduce amounts outstanding under the Acquisition Term Loan due 2030.

Where can more information about OpenText be found?

More information about OpenText can be found at investors.opentext.com.