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Soliciting
Material Pursuant to § 240.14a-12
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MENTOR GRAPHICS CORPORATION
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(Name of Registrant as Specified In Its
Charter)
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N/A
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any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and
identify the filing for which the offsetting fee was paid previously.
Identify the previous filing by registration statement number, or the form or
schedule and the date of its filing.
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`
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FOR
IMMEDIATE RELEASE
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News Release
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For more information, please contact:
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Ry Schwark
Media Contact
503.685.1660
ry_schwark@mentor.com
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Joe Reinhart
Investor Contact
503.685.1462
joe_reinhart@mentor.com
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Mentor Graphics Announces New $125 Million
Revolving Credit Agreement
Provides Increased Flexibility for Stock Repurchases
and Dividends
WILSONVILLE, Ore., April 26, 2011
—
Mentor
Graphics Corporation (NASDAQ: MENT) announced today that it had entered into a new $125 million unsecured revolving credit agreement
(the “
New Revolver
”) with a syndicate of banks led by Bank of America, N.A. and including Citibank, N.A., KeyBank
National Association, U.S. Bank National Association and HSBC Bank USA, N.A. The New Revolver, which has a term of four years,
replaces a $100 million existing revolving credit agreement.
Under the New Revolver, Mentor Graphics has greater flexibility
to repurchase its stock and pay dividends because the prior unsecured revolving credit agreement limited the company to repurchasing
no more than $15 million in stock and prohibited the company from paying dividends. The New Revolver contains customary terms including
the ability of the company to choose interest rates based on LIBOR or prime rate.
“We are delighted to enter into the new revolving credit agreement,
which is the final piece in the refinancing of Mentor’s debt to allow us to return capital to our shareholders,” said
Gregory K. Hinckley, President of the Company. “The revolving credit agreement it replaces was due to expire in June 2011
and we would have had difficulty reaching a new revolving credit agreement, much
less achieving flexibility to return capital to our shareholders, so long as
our old convertible debt was outstanding. It was this situation, together with
favorable rates and terms, that led to the decision to undertake the $253 million
convertible note offering that we completed earlier this month. With the new
convertible financing in place, we were then able to enter into the new revolving
credit agreement, which should allow us the flexibility to return $150 million
or more of capital to our shareholders through repurchases of stock or payments
of dividends over the next three years.”
Important Information
On March 31, 2011, the company filed a definitive proxy statement
with the Securities and Exchange Commission (the “SEC”) in connection with the company’s upcoming 2011 annual
meeting of shareholders. Shareholders are advised to read the company’s definitive proxy statement, and any other relevant
documents filed by the company with the SEC, before making any voting or investment decision because they contain important information.
The definitive proxy statement is, and any other relevant documents and other material filed with the SEC concerning the company
will be, when filed, available free of charge at
http://www.sec.gov
and
http://www.mentor.com/company/investor_relations
.
In addition, copies of the proxy materials may be requested from the company’s proxy solicitor, MacKenzie Partners, Inc.,
by telephone at 1-800-322-2885 or by email at
proxy@mackenziepartners.com
.
Forward-Looking Statements
Statements in this press release regarding the company’s
outlook for future periods constitute “forward-looking” statements based on current expectations within the meaning
of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements of the company or industry results to be materially different
from any results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among
others, the following: (i) weakness or recession in the US, EU, Japan or other economies; (ii) the company’s ability to successfully
offer products and services that compete in the highly competitive EDA industry; (iii) product bundling or discounting of products
and services by competitors, which could force the company to lower its prices or offer other more favorable terms to customers;
(iv) possible delayed or canceled customer orders, a loss of key personnel or other consequences resulting from the business disruption
and uncertainty of prolonged proxy fights, offers to purchase the company’s securities or other actions of activist shareholders;
(v) effects of the increasing volatility of foreign currency fluctuations on the company’s business and operating results;
(vi) changes in accounting or reporting rules or interpretations; (vii) the impact of tax audits by the IRS or other taxing authorities,
or changes in the tax laws, regulations or enforcement practices where the company does business; (viii) effects of unanticipated
shifts in product mix on gross margin; and (ix) effects of customer seasonal purchasing patterns and the timing of significant
orders, which may negatively or positively impact the company’s quarterly results of operations, all as may be discussed
in more detail under the heading “Risk Factors” in the company’s most recent Form 10-K or Form 10-Q. Given these
uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The company
disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking
statements to reflect future events or developments.
###
Mentor Graphics Corp. (NASDAQ:MENT)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Mentor Graphics Corp. (NASDAQ:MENT)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024
