Cadence Design (CDNS) has issued an update.
Cadence Design Systems, Inc. secured a $1.25 billion senior unsecured revolving credit facility to replace its existing agreement, aiming to fund working capital, capital expenditures, and general corporate needs. With competitive interest rates tied to the company’s debt rating, the new credit facility also imposes covenants to maintain a healthy debt to EBITDA ratio, ensuring financial discipline. Additionally, the company amended previous loan agreements to align with the new facility’s financial covenants, reaffirming its strategic financial management.
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