Cadence Design eyes $300 million 10-year notes for Monday pricing

By Aleesia Forni

Virginia Beach, Oct. 6 – Cadence Design Systems Inc. is in Monday’s market with a $300 million offering of 10-year senior notes, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

Proceeds will be used for general corporate purposes, which may include the retirement of debt, working capital, capital expenditures, potential acquisitions and strategic transactions.

Based in San Jose, Calif., Cadence provides tools and services for semiconductor design.

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