Synopsys refinances loans with $350 million five-year revolver

By Susanna Moon

Chicago, Oct. 18 - Synopsys, Inc. entered into a $350 million five-year senior unsecured revolving credit facility last Friday with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Interest on the loans will be Libor plus 97.5 basis points to 120 bps, based on leverage.

The facility replaces the company's $300 million senior unsecured credit facility, which was terminated effective Oct. 14.

The total limit may be raised by another $150 million with additional commitments from lenders.

There is a facility fee of 15 bps to 30 bps, also based on leverage.

Bank of America, NA and Wells Fargo Bank, NA are the co-syndication agents. HSBC Bank USA, NA and Union Bank, NA are co-documentation agents. J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Wells Fargo Securities, LLC are the bookrunners and lead arrangers.

Synopsys is a Mountain View, Calif.-based company that provides technology solutions used to develop electronics and electronic systems.

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