Cadence Design Systems Announces Public Offering of $2.5 Billion Senior Notes

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announced the public offering of $2.5 billion aggregate principal amount of senior notes due 2027, 2029, and 2034. The 2027 Notes will bear interest at 4.200% per year, the 2029 Notes at 4.300% per year, and the 2034 Notes at 4.700% per year, all maturing on September 10 of their respective years. The net proceeds will be used to repay existing debt and for general corporate purposes. The offering is expected to close on September 10, 2024.

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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.