Cadence signs $1.25B five-year credit facility, updates leverage covenant

CADENCE DESIGN SYSTEMS INC

New $1.25B senior unsecured revolving credit facility replaces existing facility; maturity five years.
Interest at Term SOFR plus 0.625%-1.125% (based on debt rating) plus 0.10% spread adjustment.
Financial covenant: funded debt/EBITDA ≤3.50x (step-up to 4.00x for one year after ≥$250M acquisition).
Also amended 2022 and 2024 loan agreements to align financial covenant; no outstanding borrowings under old facility.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.