Synopsys uses $200 million of revolving loans for Coverity purchase

By Tali Rackner

Norfolk, Va., March 25 - Synopsys, Inc. used $200 million of borrowings under its credit agreement and cash to fund its acquisition of Coverity, Inc., according to an 8-K filing with the Securities and Exchange Commission.

As of Tuesday, Synopsys had $200 of outstanding revolving loans and $97.5 million of outstanding term loans under the credit agreement.

Synopsis is a Mountain View, Calif.-based provider of software and IP used in the design, verification and manufacture of electronic components and systems.

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