Open Text Corporation announced that it has priced the offerings of $1.5 billion in total aggregate principal amount of senior unsecured fixed rate notes by OpenText and Open Text Holdings Inc., a wholly-owned indirect U.S. subsidiary of OpenText (OTHI). The offerings were upsized from the previously announced $1.0 billion total aggregate principal amount. OpenText intends to use the substantial portion of the net proceeds from the offerings to (i) redeem in full the outstanding $850 million aggregate principal amount of OpenText's 5.875% notes due 2026 (the "2026 Notes") and pay the make-whole premium of $25 million that will be paid in connection with such redemption of the 2026 Notes and (ii) pay related fees and expenses; and OpenText expects to use the balance of the net proceeds for general corporate purposes, including potential future acquisitions. The offerings consist of $850 million aggregate principal amount of OpenText's 3.875% senior unsecured notes due 2029 (the "OTC notes"), guaranteed initially on a senior unsecured basis by OpenText's existing wholly-owned subsidiaries that borrow or guarantee the Company's obligations under its existing senior credit facilities, and $650 million aggregate principal amount of OTHI's 4.125% senior unsecured notes due 2031 (the "OTHI notes" and collectively with the OTC notes, the "notes"), guaranteed on a senior unsecured basis by OpenText and guaranteed initially by OpenText's existing wholly-owned subsidiaries (other than OTHI) that borrow or guarantee OpenText's obligations under its existing senior credit facilities. The offerings are expected to close on November 24, 2021, subject to customary closing conditions.