---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-036439"
form_type: "8-K"
ticker: "SNPS"
cik: "0000883241"
company_name: "SYNOPSYS INC"
filed_at: "2024-02-14T23:59:59+00:00"
generated_at: "2026-06-06T02:54:17.028602+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Synopsys signs $4.3B term loan for Ansys acquisition, amends $850M revolver

## Summary
- Sixth Amendment to $850M revolver adjusts financial covenants for Ansys Merger; no outstanding balance.
- New $4.3B term loan: $1.45B tranche maturing 2yr, $2.85B tranche maturing 3yr after funding.
- Proceeds to finance cash consideration and fees for pending Ansys Merger (announced Jan 15, 2024).
- Ticking fee of 0.10% p.a. on undrawn portion from May 14, 2024 until funding or termination.
- $4.3B of bridge commitments terminated, replaced by term loan.

## SEC filing metadata
- accession: 0001193125-24-036439
- form_type: 8-K
- ticker: SNPS
- cik: 0000883241
- company_name: SYNOPSYS INC
- filed_at: 2024-02-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/883241/000119312524036439/0001193125-24-036439-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/883241/000119312524036439/d716417d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-036439
- JSON: https://secwatch.observer/filing/0001193125-24-036439.json
- Plain text: https://secwatch.observer/filing/0001193125-24-036439.txt

## Key facts
- Debt Financings
  SYNOPSYS INC incurred term loan of up to $4.3 billion with JPMorgan Chase Bank, N.A. (as administrative agent) and the lenders party thereto at Adjusted Term SOFR Rate plus an applicable margin based on the credit ratings of maturing Tranche 1 matures two years after funding; Tranche 2 matures three years after funding.
  - Instrument: term loan
  - Principal: up to $4.3 billion
  - Counterparty: JPMorgan Chase Bank, N.A. (as administrative agent) and the lenders party thereto
  - Rate: Adjusted Term SOFR Rate plus an applicable margin based on the credit ratings of
  - Maturity: Tranche 1 matures two years after funding; Tranche 2 matures three years after funding
  - Event: incurrence
  source text: On February 13, 2024, Synopsys entered into a Term Loan Facility Credit Agreement (the “Term Loan Agreement”) in connection with the financing of the pending Ansys Merger, by and among Synopsys, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The Term Loan Agreement provides us with the ability to borrow up to $4.3 billion at the closing of the Ansys Merger, subject to satisfaction of customary closing conditions for similar facilities, for the purpose of financing a portion of the cash consideration to be paid in the Ansys Merger and paying related fees and expenses in connection with the Ansys Merger and the other transactions contemplated by the Merger Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/883241/000119312524036439/0001193125-24-036439-index.htm
- Material Agreements
  SYNOPSYS INC entered into Term Loan Facility Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent valued at $4.3 billion (effective 2024-02-13).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Value: $4.3 billion
  - Effective: 2024-02-13
  source text: On February 13, 2024, Synopsys entered into a Term Loan Facility Credit Agreement (the “Term Loan Agreement”) in connection with the financing of the pending Ansys Merger, by and among Synopsys, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/883241/000119312524036439/0001193125-24-036439-index.htm
- Material Agreements
  SYNOPSYS INC amended Sixth Amendment to Revolving Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent (effective 2024-02-13).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Effective: 2024-02-13
  source text: On February 13, 2024, Synopsys, Inc. (“Synopsys”) entered into a Sixth Amendment Agreement (the “Sixth Amendment”), by and among Synopsys, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which amends and restates Synopsys’ previous credit agreement, dated as of December 14, 2022 (as amended and restated by the Sixth Amendment, the “Revolving Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/883241/000119312524036439/0001193125-24-036439-index.htm

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