BENTLEY SYSTEMS INC (BSY) — Current Report

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Earlier Current Report filings

Filed: 2026-04-27
  • Bentley Systems secured $550 million in new senior secured term loan financing, maturing October 18, 2029, providing additional liquidity and refinancing capacity for the company.
  • The term loan features a springing maturity clause tied to the company's convertible debt obligations, indicating management's focus on managing debt maturity mismatches and refinancing risk.
  • Quarterly amortization of 1.25% begins June 30, 2027, requiring approximately $6.9M in annual mandatory repayment, with no prepayment penalties allowing flexibility to accelerate deleveraging if needed.
  • The new facility features a floating rate structure tied to Term SOFR plus a margin based on Net Leverage Ratio, suggesting lender confidence in the company's ability to service variable rate debt.

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