Loan & DebtApr 27, 2026, 04:24 PM
BSY Secures $550M Incremental Term Loan Facility
AI Summary
Bentley Systems, Incorporated (BSY) has entered into a First Amendment and Incremental Facility Agreement, dated April 23, 2026, to secure up to $550 million in First Incremental Term Loans. This agreement amends the existing Second Amended and Restated Credit Agreement from October 18, 2024. The new facility, with PNC Bank, National Association as the administrative agent, aims to provide additional financing for the company.
Key Highlights
- BSY secured up to $550,000,000 in First Incremental Term Loans.
- The agreement amends the Second Amended and Restated Credit Agreement dated October 18, 2024.
- PNC Bank, National Association acts as the Administrative Agent.
- The First Incremental Term Commitments will terminate on the First Amendment Effective Date upon loan making.
- The Net Senior Secured Leverage Ratio must not exceed the maximum permitted ratio minus 0.25 to 1.00 pro forma.