---
schema_version: "secwatch.filing_event.v1"
accession: "0000813672-24-000125"
form_type: "8-K"
ticker: "CDNS"
cik: "0000813672"
company_name: "CADENCE DESIGN SYSTEMS INC"
filed_at: "2024-06-03T23:59:59+00:00"
generated_at: "2026-06-01T07:00:22.404952+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Cadence enters $700M term loan to finance BETA CAE acquisition; issues 1.74M shares as partial consideration

## Summary
- $700M two-year senior unsecured term loan at SOFR+0.875%-1.375% or base+0%-0.375%, depending on debt rating.
- Proceeds fully used to finance the May 30, 2024 acquisition of BETA CAE Systems International AG.
- Issued 1,740,931 shares of common stock (unregistered) to BETA CAE shareholders as part of the acquisition consideration.
- Loan covenant requires funded debt/Consolidated EBITDA ratio ≤3.25x (step-up to 3.75x for one year after major acquisition).
- Initial Applicable Rate set at Pricing Level II (A3/A-/A-).

## SEC filing metadata
- accession: 0000813672-24-000125
- form_type: 8-K
- ticker: CDNS
- cik: 0000813672
- company_name: CADENCE DESIGN SYSTEMS INC
- filed_at: 2024-06-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/813672/000081367224000125/0000813672-24-000125-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/813672/000081367224000125/cdns-20240530.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000813672-24-000125
- JSON: https://secwatch.observer/filing/0000813672-24-000125.json
- Plain text: https://secwatch.observer/filing/0000813672-24-000125.txt

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