Autodesk has announced the pricing of two series of its senior notes in an aggregate principal amount of $750 million, in an underwritten, registered public offering. Of these senior notes, $400 million will mature on December 15, 2017, and will bear interest at an annual rate of 1.95 percent, and $350 million will mature on December 15, 2022, and will bear interest at an annual rate of 3.60 percent. The offering is expected to close on December 13, 2012, subject to customary closing conditions.
Autodesk intends to use a portion of the net proceeds from the sale of the senior notes for the repayment of approximately $80 million in borrowings outstanding under its revolving credit facility plus accrued and unpaid interest. The remainder of the net proceeds will be used for general corporate purposes, including working capital, capital expenditures, possible stock repurchases and potential acquisitions and strategic transactions, says the company.
Citigroup, J.P. Morgan and Morgan Stanley acted as joint book-running managers for the offering.