secwatch.observer — SEC 8-K summary
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Issuer:     BENTLEY SYSTEMS INC (BSY)
CIK:        0001031308
Form:       8-K
Filed at:   2024-10-22T23:59:59+00:00
Accession:  0001104659-24-110564
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bentley Systems enters $1.3B revolving credit facility maturing 2029
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031308/000110465924110564/0001104659-24-110564-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031308/000110465924110564/tm2426498d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-110564

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