Open Text (OTEX) amended certain terms of its cash tender offer for its outstanding 3.875% senior notes due 2028, the company said on Friday.
Under the amended terms, the company reduced the aggregate maximum tender amount to $300 million in principal from $450 million.
The company said it will use cash on hand and proceeds from a concurrent senior secured notes offering to fund the consideration for a portion of its outstanding bonds accepted for purchase in the tender offer.
OpenText also extended the withdrawal deadline, price determination date, and expiration date to Sept. 30 from Sept. 29.
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