Home / Business and Economy / Autodesk Boosts Credit Line for $3.6B Software Deal
Autodesk Boosts Credit Line for $3.6B Software Deal
20 Jun
Summary
- Autodesk increased its revolving credit facility to $2 billion.
- A new $1 billion term loan facility will fund the acquisition.
- The company is acquiring MaintainX for $3.6 billion cash.
Autodesk is significantly enhancing its financial capacity to finalize the acquisition of MaintainX Inc. The software corporation has amended its credit agreements, increasing its unsecured revolving credit facility with Citibank N.A. to $2 billion from $1.5 billion.
This strategic financial maneuver includes streamlined borrowing conditions allowing up to $1 billion specifically for the proposed acquisition. Additionally, Autodesk has entered into a separate Term Loan Credit Agreement, securing an additional $1 billion through an unsecured 364-day delayed draw term loan facility, also earmarked for the MaintainX purchase.
The all-cash transaction for MaintainX is valued at $3.6 billion. This acquisition is anticipated to unlock strong expansion opportunities across various customer segments, global geographies, and adjacent use cases. It promises to provide Autodesk with rich data insights into asset history, maintenance patterns, and real-world performance metrics.
