Bentley Systems enters $1.3B revolving credit facility maturing 2029

BENTLEY SYSTEMS INC

Credit agreement provides $1.3B revolving facility, including $125M swingline and $125M letters of credit.
Option to increase facility by up to $500M via revolving debt or incremental term loans.
Maturity on October 18, 2029 (springing earlier if convertible debt matures and liquidity test not met).
Interest at SOFR or ABR plus margin based on Net Leverage Ratio; commitment fee 0.2%–0.3% p.a.
Covenants: Net Senior Secured Leverage ≤3.00x and Minimum Interest Coverage ≥3.00x; secured by substantially all assets.

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