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    ADSK   US0527691069

AUTODESK, INC.

(ADSK)
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AUTODESK, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Other Events, Financial Statements and Exhibits (form 8-K)

10/07/2021 | 05:13pm EST

Item 1.01 Entry into a Material Definitive Agreement.

On October 7, 2021, Autodesk, Inc. ("Autodesk" or the "Company") issued $1 billion aggregate principal amount of 2.400% Notes due 2031 (the "Notes"). The Notes are governed pursuant to an indenture (the "Base Indenture") and a fifth supplemental indenture (the "Supplemental Indenture" and referred to together with the Base Indenture as the "Indenture") the Company entered into with U.S. Bank National Association, as trustee. Interest on the Notes accrues annually at a rate of 2.400% and is payable in each case semi-annually in arrears on June 15 and December 15 of each year, commencing June 15, 2022.

Autodesk may be required to offer to repurchase the Notes upon a change in control and contemporaneous downgrades of the Notes below investment grade ratings, and it may also elect to redeem the Notes in whole or in part at any time, on the prices and on the terms further specified in the Indenture.

The Indenture contains limited affirmative and negative covenants of Autodesk. The negative covenants restrict the ability of Autodesk and certain of its subsidiaries to incur liens on principal property (as defined in the Indenture); to engage in sale and lease-back transactions with respect to any principal property; and the ability of Autodesk to consolidate, merge or sell all or substantially all of its assets.

Events of default under the Indenture include a failure to make payments, non-performance of affirmative and negative covenants, and the occurrence of bankruptcy and insolvency-related events. Autodesk's obligations may be accelerated upon an event of default, in which case the entire principal amount of the Notes would become immediately due and payable.

The foregoing description of certain terms of the Indenture does not purport to be complete and is qualified in its entirety by reference to the full text of the Base Indenture, which was filed as Exhibit 4.1 to the Company's Current Report on Form 8-K filed on December 13, 2012, and the Supplemental Indenture and related form of the Notes which are filed with this report as Exhibits 4.1 and 4.2, respectively.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an

           Off-Balance Sheet Arrangement of a Registrant.


The information set forth under Item 1.01, "Entry into a Material Definitive Agreement," is incorporated herein by reference.

Item 8.01. Other Events.

Skadden, Arps, Slate, Meagher & Flom LLP, counsel to Autodesk, has issued an opinion to Autodesk dated October 5, 2021 regarding the legality of the Notes. A copy of the opinion is filed as Exhibit 5.1 hereto.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.



Exhibit
  No.                                    Description

4.1           Fifth Supplemental Indenture, dated October 7, 2021, by and between
            Autodesk, Inc. and U.S. Bank National Association.

4.2           Form of Note for Autodesk, Inc.'s 2.400% Notes due 2031
            (incorporated by reference from Exhibit 4.1 hereto).

5.1           Opinion of Skadden, Arps, Slate, Meagher & Flom LLP.

23.1          Consent of Skadden, Arps, Slate, Meagher & Flom LLP (contained in
            Exhibit 5.1 above).

104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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