BSY · Bentley Systems, Incorporated

Bentley Systems entered into a First Amendment and Incremental Facility Agreement on April 23, 2026, which amends its existing Second Amended and Restated Credit Agreement. The amendment provides for a new $550 million senior secured term loan maturing on October 18, 2029, with a springing maturity date 91 days prior to the maturity of the company's outstanding convertible debt unless certain liquidity requirements are met. The term loan bears interest at the company's option at the Alternate Base Rate or Term SOFR plus a margin based on its Net Leverage Ratio. Quarterly amortization of 1.25% of the initial principal amount begins on June 30, 2027. The loan can be prepaid at any time without premium. This transaction increases Bentley's debt capacity and extends its debt maturity profile, providing additional financial flexibility. The proceeds are not specified but likely used for general corporate purposes or refinancing.