Form 8-K · Current Report · Filed 2024-02-14
Synopsys Enters into New Credit Agreements for ANSYS Acquisition
Synopsys, Inc. entered into a Sixth Amendment to its Revolving Credit Agreement and a Term Loan Facility Credit Agreement to finance its acquisition of ANSYS, Inc. The Sixth Amendment modifies the interest accrual rates and financial covenant based on Synopsys' credit ratings. The Term Loan Agreement allows borrowing up to $4.3 billion for the acquisition and related expenses. Additionally, Synopsys terminated $4.3 billion of commitments under a bridge facility agreement.
- Filer
- Synopsys Inc. SNPS · NASDAQ
- Filed
- Accession
- 0001193125-24-036439
- CIK
- 0000883241
- Signal
- High impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Creation of a Direct Financial Obligation
Other Events
Financial Statements and Exhibits
Market reaction
Close before filing
$548.53
Next session
+1.7%
Since filing
-29.1%
Latest close
$388.76
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Precedent
Previous filings from SNPS reporting the same item, with the next session's move:
Exhibits (2)
About Synopsys Inc.
Synopsys Inc. is a leading provider of electronic design automation software, offering comprehensive solutions essential for designing and testing integrated circuits and electronic systems. Their software facilitates complex chip design processes, catering to a wide spectrum of industries, including semiconductor, automotive, and consumer electronics. One of Synopsys's key offerings is its advanced verification platform, which enhances the reliability and performance of electronic products. The company also plays a pivotal role in advancing chip design technology through its robust intellectual property portfolio, offering Silicon-proven IP that accelerates time-to-market for semiconductor companies. Headquartered in Mountain View, California, Synopsys is integral to the semiconductor design and verification cycle, supporting innovation in various tech sectors. Its tools are indispensable in conducing the unyielding complexity and shrinking design cycles synonymous with modern electronics, underscoring its market significance.
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