Company: PTC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015530
Chunk: 49

Company: PTC INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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 financing activities in Q1'24 included $620.0 million paid to settle the ServiceMax deferred acquisition payment, partially offset by net borrowings of $558.4 million to fund the ServiceMax deferred acquisition payment and the pure-systems acquisition.

22

Outstanding Debt

    (in millions)
     
    December 31, 2024

    September 30, 2024

    4.000% Senior notes due 2028
     
    $
    500.0

    $
    500.0

    3.625% Senior notes due 2025

    500.0

    500.0

    Credit facility revolver line

    60.0

    262.0

    Credit facility term loan

    487.5

    490.6

    Total debt
     
    $
    1,547.5

    $
    1,752.6

    Unamortized debt issuance costs for the senior notes

    (3.5
    )

    (4.1
    )

    Total debt, net of issuance costs
     
    $
    1,544.0

    $
    1,748.6

    Undrawn under credit facility revolver
     
    $
    1,190.0

    $
    988.0

    Undrawn under credit facility revolver available to borrow
     
    $
    1,174.5

    $
    972.1

As of December 31, 2024, we were in compliance with all financial and operating covenants of the credit facility and the note indenture. As of December 31, 2024, the annual rate for borrowings outstanding under the credit facility was 5.9%.

Our credit facility and our senior notes are described in Note 10. Debt to the Condensed Consolidated Financial Statements of this Quarterly Report on Form 10-Q. As of December 31, 2024, $524.9 million of our debt was classified as current, including $499.9 million associated with the 2025 senior notes and related debt issuance costs which will become due in February 2025. We intend to redeem the notes using cash on hand and a draw on our revolving credit facility.

Future Expectations

We believe that existing cash and cash equivalents, together with cash generated from operations and amounts available under the credit facility, will be sufficient to