Open Text Corp Issues Conditional Redemption of $1B 2027 Notes

What Happened
On September 22, 2026, Open Text Corporation filed an 8-K and issued a press release announcing it has issued a conditional notice to redeem in full $1.0 billion principal amount of its outstanding 6.900% Senior Secured Notes due 2027 (the “2027 Notes”), with a scheduled redemption date of October 2, 2026. The redemption is subject to satisfaction or waiver of certain conditions, including a financing condition. The company also said it is exploring a potential offering of new senior secured notes under Rule 144A and Regulation S.

Key Details

• $1.0 billion principal amount of 6.900% Senior Secured Notes due 2027 targeted for redemption.
• Conditional redemption date: October 2, 2026.
• Redemption is subject to conditions, including a financing condition (i.e., closing new financing may be required).
• Open Text is exploring a potential Rule 144A / Regulation S offering of senior secured notes to the market.
• Press release dated September 22, 2026 is filed as Exhibit 99.1 to the 8-K.

Why It Matters
A conditional redemption of $1.0B of near-term secured debt and a concurrent exploration of a new note offering are material to investors because they affect Open Text’s near-term debt maturity profile, financing plans and potential interest costs. The financing condition indicates the redemption may depend on completing replacement financing; investors should watch for updates confirming the redemption, the final terms of any new notes, and any related filings that disclose proceeds use or impact on leverage and cash flow.