Bentley Systems adds $200M term loan, extends maturity to Nov 2025

BENTLEY SYSTEMS INC

New $200M senior secured term loan due Nov 15, 2025; amortizes 2.5% p.a. for first 2 years, 5% p.a. for next 2 years.
Incremental facility capacity raised to $200M for both revolving and term loan commitments.
Net leverage ratio covenant increased foreign unrestricted cash deduction from 65% to 100%.
Immaterial subsidiaries (<5% revenue/assets) exempted from guarantee and pledge requirements.
Swingline loans in EUR and GBP suspended until LIBOR replacement benchmark selected.

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