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SNPS > SEC Filings for SNPS > Form 8-K on 25-Mar-2014All Recent SEC Filings

Show all filings for SYNOPSYS INC

Form 8-K for SYNOPSYS INC


25-Mar-2014

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Shee


Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On March 19, 2014, Synopsys, Inc. ("Synopsys") made borrowings under its existing credit agreement with several lenders, dated February 17, 2012 (the "Credit Agreement"), consisting of revolving loans in the aggregate principal amount of $200,000,000, which will bear interest at the Eurodollar Rate plus an applicable margin (as defined in the Credit Agreement). The material terms and conditions of the Credit Agreement are summarized in Item 1.01 of the Current Report on Form 8-K filed by Synopsys with the Securities and Exchange Commission on February 22, 2012 (the "Prior 8-K"), which is incorporated by reference herein. The summary of the Credit Agreement is qualified in its entirety by the text of the Credit Agreement, which was filed as Exhibit 10.45 to the Prior 8-K and is incorporated by reference herein. As of March 25, 2014, Synopsys has outstanding revolving loans in the aggregate principal amount of $200,000,000 and outstanding term loans in the aggregate principal amount of $97,500,000, under the Credit Agreement.



Item 7.01 Regulation FD Disclosure.

On March 25, 2014, Synopsys issued a press release announcing that it had completed its previously announced acquisition of Coverity, Inc. A copy of the press release is furnished and attached as Exhibit 99.1 and is incorporated by reference herein. Synopsys funded the acquisition through existing cash and borrowings under the Credit Agreement, as described above in Item 2.03.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit
Number                                   Exhibit Title

99.1         Press release dated March 25, 2014 announcing Synopsys, Inc.'s
             completion of its acquisition of Coverity, Inc.


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