AI English summary of an SEC filing — figures as filed
Autodesk ADSKAutodesk said on May 8, 2025 it entered into a credit agreement with Citibank, N.A. as administrative agent, establishing an unsecured revolving loan facility with an aggregate principal amount of $1,500,000,000. The company said no revolving loans were outstanding under the agreement as of the effective date.
Key points
AI summaryAutodesk said on May 8, 2025 it entered into a credit agreement with Citibank, N.A. as administrative agent, establishing an unsecured revolving loan facility with an aggregate principal amount of $1,500,000,000. The company said no revolving loans were outstanding under the agreement as of the effective date.
The company terminated its existing amended and restated credit agreement effective September 30, 2021. It said the commitments under the new agreement may be increased up to 2 times per calendar year, up to a maximum of $2,000,000,000, and that borrowings may be used for working capital and general corporate purposes.
The company said the scheduled termination date of the credit facility is May 8, 2030. Revolving loans bear interest at either the Base Rate or Term SOFR plus a margin of 0.575% to 1.000%, and the facility fee on committed amounts is 0.050% to 0.125% per annum.
The company said it must maintain a maximum leverage ratio of Consolidated Covenant Debt to Consolidated EBITDA of no more than 3.50:1.00 during the term of the credit facility. The ratio may be adjusted to 4.00:1.00 for up to 4 consecutive fiscal quarters following certain acquisitions.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
$1,500,000,000 Unsecured Revolving Loan Facility Entered
Autodesk said on May 8, 2025 it entered into a credit agreement with Citibank, N.A. as administrative agent, establishing an unsecured revolving loan facility with an aggregate principal amount of $1,500,000,000. The company said no revolving loans were outstanding under the agreement as of the effective date.
Source · Based on the filing body and exhibits
Termination of Existing Credit Agreement and Increase and Usage Terms
The company terminated its existing amended and restated credit agreement effective September 30, 2021. It said the commitments under the new agreement may be increased up to 2 times per calendar year, up to a maximum of $2,000,000,000, and that borrowings may be used for working capital and general corporate purposes.
Source · Based on the filing body and exhibits
Maturity, Interest Rate and Fee Terms
The company said the scheduled termination date of the credit facility is May 8, 2030. Revolving loans bear interest at either the Base Rate or Term SOFR plus a margin of 0.575% to 1.000%, and the facility fee on committed amounts is 0.050% to 0.125% per annum.
Source · Based on the filing body and exhibits
Leverage Ratio Financial Covenant
The company said it must maintain a maximum leverage ratio of Consolidated Covenant Debt to Consolidated EBITDA of no more than 3.50:1.00 during the term of the credit facility. The ratio may be adjusted to 4.00:1.00 for up to 4 consecutive fiscal quarters following certain acquisitions.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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