Company: PTC
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001193125-25-291326
Chunk: 88

Company: PTC INC.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 6
Chunk 88
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 second quarter of 2025, we redeemed the 2025 Notes using a draw on our revolving credit facility and cash on hand.As of September 30, 2025, the total estimated fair value of the 2028 Notes was approximately $490.0 million based on quoted prices for the notes on that date.We were in compliance with all the covenants for the 2028 Notes as of September 30, 2025.Terms of the 2028 NotesInterest on the 2028 Notes is payable semi-annually on February 15 and August 15. The debt indenture for the 2028 Notes includes covenants that limit our ability to, among other things, incur additional debt, grant liens on our properties or capital stock, enter into sale and leaseback transactions or asset sales, and make capital distributions.We may, on one or more occasions, redeem the 2028 Notes in whole or in part at specified redemption prices. In certain circumstances constituting a change of control, we will be required to make an offer to repurchase the notes at a purchase price equal to 101% of the aggregate principal amount of the notes, plus accrued and unpaid interest. Our ability to repurchase the notes upon such event may be limited by law, by the indenture associated with the notes, by our then-available financial resources or by the terms of other agreements to which we may be party at such time. If we fail to repurchase the notes as required by the indenture, it would constitute an event of default under the indenture which, in turn, may also constitute an event of default under other obligations.

F-28

Credit AgreementIn January 2023, we entered into an amended and restated credit agreement for a secured multi-currency bank credit facility with a syndicate of banks. Our credit facility consists of (i) a $1.25 billion revolving credit facility, (ii) a $500 million term loan credit facility, and (iii) an incremental facility pursuant to which we may incur additional term loan tranches or increase the revolving credit facility.As of September 30, 2025, unused commitments under our credit facility were approximately $1,018.8 million and amounts available for borrowing were $1,001.7 million.As of September 30, 2025, the fair value of our credit facility approximates its book value.PTC Inc. and certain foreign subsidiaries are eligible borrowers under the credit facility. Any borrowings by PTC Inc. under