Micro Focus International PLC - Berkshire-based global enterprise software firm - Potential buyer Open Text Corp expects takeover of Micro Focus to close in the first quarter of calendar year 2023. Open Text adds that it fully syndicated its USD3.59 billion term loan facility with an annual interest equal to adjusted terms secured overnight financing rate plus 3.5%. Further, it prices an offering of USD1 billion of 6.9% senior secured fixed rate notes due 2027 in connection with the acquisition.
In August, Micro Focus agreed to be taken over by Ontario, Canada-based Open Text for GBP5.1 billion in a takeover that includes Micro Focus's debt.
Current Micro Focus stock price: 524.40 pence, down 0.1% on Thursday
12-month change: up 27%
By Tom Budszus; tombudszus@alliancenews.com
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