Aspen Technology gets $630 million five-year credit agreement

By Wendy Van Sickle

Columbus, Ohio, Dec. 30 – Aspen Technology, Inc. entered into a $630 million five-year credit agreement on Dec. 23 with Emerson Electric Co., according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at a term SOFR plus a margin ranging from 125 basis points to 175 bps, depending on leverage ratio.

The company must maintain a maximum leverage ratio of 3.5 times and a minimum interest coverage ratio of 2.5 times.

Proceeds may be used to pay part of the cash consideration for funding acquisitions, for loan repayments and for other working capital and general corporate purposes.

Aspen Technology is a Bedford, Mass.-based supplier of software for process manufacturing.

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