WATERLOO, ON, Aug. 14,
2023 /PRNewswire/ -- 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%.
"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 Mark J. Barrenechea. "We are the leader in
Information Management. Our strong track record of growth and cash
flows helped us to achieve this outcome."
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.
Cautionary Statement Regarding Forward-Looking
Statements
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
Company at the date of this announcement, 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 the Company'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.
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, the
Company 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.
OTEX-F
Copyright ©2023 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:
http://www.opentext.com/who-we-are/copyright-information.
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SOURCE Open Text Corporation