Cadence Design Systems Enters into New Credit Facility and Amends Existing Loan Agreements

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entered into a new $1.25 billion five-year senior unsecured revolving credit facility with Bank of America, N.A., replacing its existing credit agreement. Additionally, the company amended its existing loan agreements to adjust financial covenants. Concurrently, the company terminated all remaining commitments under its previous credit agreement.

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About Cadence Design Systems Inc.

Cadence Design Systems Inc. is a pivotal entity within the technology sector, specializing in electronic design automation (EDA) software and engineering services. Its software suite underpins the design process of integrated circuits (ICs) and electronic systems, streamlining tasks related to simulation, verification, and synthesis. A crucial tool for semiconductor companies, Cadence's products facilitate the creation of advanced electronic chips and devices, impacting industries such as telecommunications, consumer electronics, and automotive. As a key player in the semiconductor industry’s supply chain, Cadence has positioned itself as a leader in delivering cutting-edge design solutions that drive innovation and efficiency. By enabling rapid advancements in chip design, Cadence plays a vital role in propelling technological progress across various sectors.