Synopsys borrows $250 million of revolving loans for stock repurchases

By Marisa Wong

Madison, Wis., Dec. 10 – Synopsys, Inc. borrowed $250 million of revolving loans under its existing credit agreement dated Feb. 17, 2012, according to an 8-K filing with the Securities and Exchange Commission.

The loans were advanced on Dec. 9.

Synopsys is using the borrowings to fund the repurchase of its common stock and intends to use the remaining funds for short-term working capital needs in the United States.

As of Dec. 9, Synopsys has outstanding revolving loans in the aggregate amount of $250 million and an outstanding term loan totaling $75 million under its credit agreement.

Based in Mountain View, Calif., Synopsys develops software tools and designs integrated circuits.

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