---
schema_version: "secwatch.filing_event.v1"
accession: "0000813672-22-000047"
form_type: "8-K"
ticker: "CDNS"
cik: "0000813672"
company_name: "CADENCE DESIGN SYSTEMS INC"
filed_at: "2022-09-08T23:59:59+00:00"
generated_at: "2026-06-23T13:22:02.793152+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Cadence enters $300M term loan facility to repay OpenEye acquisition debt

## Summary
- $300M three-year senior unsecured term loan credit facility entered into on Sept 7, 2022.
- Proceeds used to repay ~$300M existing borrowings that funded OpenEye Scientific Software acquisition.
- Interest rate: Term SOFR + 0.625%-1.125% or Base Rate + 0.0%-0.125%, based on debt rating.
- Also amended credit agreement to change fiscal year to calendar year (effective 2023) and switch benchmark from LIBOR to Term SOFR.

## SEC filing metadata
- accession: 0000813672-22-000047
- form_type: 8-K
- ticker: CDNS
- cik: 0000813672
- company_name: CADENCE DESIGN SYSTEMS INC
- filed_at: 2022-09-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/813672/000081367222000047/0000813672-22-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/813672/000081367222000047/cdns-20220907.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000813672-22-000047
- JSON: https://secwatch.observer/filing/0000813672-22-000047.json
- Plain text: https://secwatch.observer/filing/0000813672-22-000047.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.