Open Text amends revolver to lift total commitments to $300 million

By Jennifer Chiou

New York, Dec. 23 – Open Text Corp. and certain of its subsidiaries amended their credit agreement on Monday with Barclays Bank plc as administrative agent and collateral agent, increasing total commitments to $300 million, according to an 8-K filed with the Securities and Exchange Commission.

The amendment also, among other things, reduces the interest rate margin for the revolver to Libor plus 175 basis points to 225 bps, extends the maturity date to Dec. 22, 2019 and replaces Open Text Inc. with Open Text Holdings, Inc. as a revolving borrower.

Royal Bank of Canada acted as documentary credit lender.

Open Text is a Waterloo, Ont.-based provider of enterprise information management software that helps companies manage, secure and leverage their unstructured business information.

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