secwatch.observer — SEC 8-K summary
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Issuer:     CADENCE DESIGN SYSTEMS INC (CDNS)
CIK:        0000813672
Form:       8-K
Filed at:   2024-09-10T23:59:59+00:00
Accession:  0001193125-24-216701
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cadence closes $2.5B senior notes offering, uses proceeds to prepay existing loans
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- Issued $2.5B in three tranches: $500M 4.200% due 2027, $1B 4.300% due 2029, $1B 4.700% due 2034.
- Notes are unsecured senior obligations ranking equally with existing senior debt.
- Used part of net proceeds to prepay in full and terminate two loan agreements with Bank of America.
- Interest payable semi-annually March 10 and Sept 10, starting March 10, 2025.
- Redemption includes make-whole prior to par call dates with spreads of 10-15 bps depending on tranche.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/813672/000119312524216701/0001193125-24-216701-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/813672/000119312524216701/d875436d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-216701

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