8-KMaterial AgreementsFinancial EventsExhibits & Filings

Autodesk, Inc. 8-K Report, Material Agreement (Jun 15, 2026)

Filed June 15, 2026For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) has filed an 8-K report on June 15, 2026, detailing significant updates to its credit facilities aimed at supporting its upcoming merger with MaintainX Inc. The company amended its existing revolving credit agreement, increasing the facility size from $1.5 billion to $2 billion. This amendment also introduces more favorable borrowing conditions specifically for funds used to close the MaintainX acquisition, enhancing funding certainty. Furthermore, Autodesk has entered into a new $1.0 billion, 364-day delayed draw term loan facility, also provided by Citibank. This term loan is exclusively for funding the MaintainX acquisition and will mature 364 days after the closing date. The report highlights the terms, interest rates (Base Rate or SOFR-based), and ticking fees associated with this new facility. These financing enhancements underscore Autodesk's commitment to the MaintainX acquisition and provide substantial liquidity to ensure its successful completion.

Key Highlights

  • 1Autodesk has increased its revolving credit facility from $1.5 billion to $2 billion, providing greater financial flexibility.
  • 2New terms in the amended revolving credit agreement offer more limited conditions for borrowings up to $1.0 billion specifically for the MaintainX acquisition closing.
  • 3A new $1.0 billion, 364-day delayed draw term loan facility has been established to fund the MaintainX merger.
  • 4The term loan is designed for funding on the acquisition closing date and matures 364 days thereafter.
  • 5Interest rates for the term loan can be chosen between a Base Rate plus a small margin (0.0% - 0.125%) or a SOFR rate plus a margin (0.625% - 1.125%), dependent on public debt ratings.
  • 6A ticking fee of 0.050% to 0.125% per annum will be applied to undrawn commitments of the term loan, commencing 120 days after the effective date.
  • 7Both credit agreements contain substantially similar covenants and financial requirements, including a maximum leverage ratio.

Frequently Asked Questions

The primary purpose of these financing updates is to secure and enhance the funding necessary for Autodesk's planned merger with MaintainX Inc. The increased revolving credit facility and the new term loan are specifically designed to provide the liquidity required to close the acquisition.

The amendment to the revolving credit agreement not only increases the total facility size but crucially provides more limited conditions to borrowing for funds specifically applied to the closing of the MaintainX acquisition. This reduces uncertainty and ensures that Autodesk can access the necessary funds more readily for the transaction.

The new term loan is a $1.0 billion, 364-day delayed draw facility. It is intended solely for funding the MaintainX acquisition on its closing date and matures 364 days post-closing. Interest can be charged based on either a Base Rate or SOFR rate, with margins varying by Autodesk's public debt rating. A ticking fee on undrawn amounts also applies after a 120-day grace period.

The agreements contain standard financial covenants, including a maximum leverage ratio, which Autodesk must adhere to. Prepayments, both voluntary and mandatory (linked to proceeds from debt, equity, or asset sales), are also outlined. While designed to provide certainty, adherence to these covenants and managing the debt repayment schedule remain key considerations.