Open Text to pay down term loan A with senior notes proceeds

By Sara Rosenberg

New York, Jan. 5 – Open Text Corp. plans on repaying its existing term loan A using proceeds from a $600 million senior unsecured notes offering, according to a market source.

Remaining proceeds from the notes will be used for general corporate purposes, including near-term acquisitions.

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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