Synopsys prepares about $10 billion bond sale to finance Ansys deal.
Jerry
Synopsys is looking to sell about $10 billion of bonds as soon as next week to help finance its acquisition of software maker Ansys, Bloomberg News reported on Friday, citing people with knowledge of the matter.
The company asked Bank of America, HSBC Holdings and JPMorgan Chase to organise a series of fixed-income investor calls on Friday, the report stated, citing a different source.
Synopsys, JPMorgan and HSBC did not immediately respond to Reuters’ requests for comment, while Bank of America declined to comment.
Synopsys received approval for its $35 billion deal with Ansys in the European Union (EU) last month.
To alleviate competition concerns arising from the deal, the EU said that both companies have agreed to divest Synopsys’ optics and photonics software and Ansys’ PowerArtist software.
The company has begun discussions with Chinese regulators about the deal, Synopsys Chief Executive Sassine Ghazi told Reuters on Wednesday.
The acquisition, announced in January last year, would see Synopsys take over Ansys, a maker of software used in the creation of a diverse range of products, including airplanes and tennis rackets used by players such as Novak Djokovic.
The potential bond sale comes after Synopsys issued a robust revenue forecast for the second quarter on Wednesday, on the back of growing demand for its software used in designing chips.
Source: FINANCE.YAHOO
