Synopsys (SNPS) has released an update.
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Synopsys, Inc. has entered into a Sixth Amendment to its Revolving Credit Agreement, effectively modifying its existing financial covenants and borrowing terms, particularly in preparation for its acquisition of ANSYS, Inc. This includes alterations to interest rates based on Synopsys’ credit ratings and adjustments to the maximum consolidated leverage ratio. The company also secured a Term Loan Facility Credit Agreement providing up to $4.3 billion to finance a portion of the ANSYS merger. Furthermore, Synopsys terminated $4.3 billion of senior bridge term loans, opting to use the committed amounts from the Term Loan Agreement instead. These strategic financial moves are set to support Synopsys’ growth and expansion plans.
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