secwatch.observer — SEC 8-K summary
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Issuer:     BENTLEY SYSTEMS INC (BSY)
CIK:        0001031308
Form:       8-K
Filed at:   2021-12-29T23:59:59+00:00
Accession:  0001104659-21-154297
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031308/000110465921154297/0001104659-21-154297-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031308/000110465921154297/tm2136399d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-154297

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