---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-074251"
form_type: "8-K"
ticker: "BSY"
cik: "0001031308"
company_name: "BENTLEY SYSTEMS INC"
filed_at: "2023-06-23T23:59:59+00:00"
generated_at: "2026-06-13T17:32:06.796166+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Bentley Systems amends credit facility to transition from LIBOR to SOFR effective June 23, 2023

## Summary
- Sixth Amendment replaces LIBOR with forward-looking SOFR for USD borrowings under existing credit agreement.
- Effective June 23, 2023; borrowings during interim period limited to one-month interest periods.
- No material financial impact disclosed; amendment is an administrative benchmark transition.
- Loan parties reaffirm existing obligations and security; no default occurred.

## SEC filing metadata
- accession: 0001104659-23-074251
- form_type: 8-K
- ticker: BSY
- cik: 0001031308
- company_name: BENTLEY SYSTEMS INC
- filed_at: 2023-06-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031308/000110465923074251/0001104659-23-074251-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031308/000110465923074251/tm2319435d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-074251
- JSON: https://secwatch.observer/filing/0001104659-23-074251.json
- Plain text: https://secwatch.observer/filing/0001104659-23-074251.txt

## Key facts
- Material Agreements
  BENTLEY SYSTEMS INC amended Sixth Amendment to Amended and Restated Credit Agreement with PNC Bank, National Association, as administrative agent, and the lenders party thereto (effective 2023-06-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association, as administrative agent, and the lenders party thereto
  - Effective: 2023-06-23
  source text: On June 21, 2023, Bentley Systems, Incorporated (the “ Company ”) entered into a Sixth Amendment to Amended and Restated Credit Agreement by and among the Company, certain of its subsidiaries, PNC Bank, National Association, as administrative agent, and the lenders party thereto (“ Sixth Amendment ”) in connection with the Amended and Restated Credit Agreement, dated as of December 19, 2017, by and among the Company, PNC Bank, National Association, as administrative agent, and the lenders from time to time party thereto (as previously amended, the “ Credit Facility ”). The Sixth Amendment, which is effective as of June 23, 2023, replaces the interest rates based on the London Interbank Offered Rate (“ LIBOR ”) and related LIBOR-based mechanics applicable to borrowings under the Credit Facility with interest rates based on the forward-looking Secured Overnight Financing Rate (“ SOFR ”) and related SOFR-based mechanics, and updates certain other provisions of the Credit Facility to refle
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031308/000110465923074251/0001104659-23-074251-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.