---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-123989"
form_type: "8-K"
ticker: "BW"
cik: "0001630805"
company_name: "Babcock & Wilcox Enterprises, Inc."
filed_at: "2023-12-06T23:59:59+00:00"
generated_at: "2026-06-07T17:06:43.554833+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Babcock & Wilcox reduces LC commitment from $110M to $100M, releases $10M collateral

## Summary
- Reduced Letter of Credit commitment from $110M to $100M; may further drop to $90M upon conditions.
- Released $10M cash collateral to repay principal on Revolving Credit Agreement.
- If obligations unpaid by Dec 31, 2023, a $5M permanent reserve applies against Revolving Credit availability.
- Paid $100,000 amendment fee to PNC Bank in connection with the Second Amendment.

## SEC filing metadata
- accession: 0001104659-23-123989
- form_type: 8-K
- ticker: BW
- cik: 0001630805
- company_name: Babcock & Wilcox Enterprises, Inc.
- filed_at: 2023-12-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1630805/000110465923123989/0001104659-23-123989-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1630805/000110465923123989/tm2332336d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-123989
- JSON: https://secwatch.observer/filing/0001104659-23-123989.json
- Plain text: https://secwatch.observer/filing/0001104659-23-123989.txt

## Key facts
- Debt Financings
  Babcock & Wilcox Enterprises, Inc. amended credit facility of reduced from $110,000,000 to $100,000,000 with PNC Bank, National Association.
  - Instrument: credit facility
  - Principal: reduced from $110,000,000 to $100,000,000
  - Counterparty: PNC Bank, National Association
  - Event: amendment
  source text: Agreement, among other things, amends the terms of the Letter of Credit Agreement to (i) reduce the Commitment Amount (as defined in the Letter of Credit Agreement) from $110,000,000 to $100,000,000, (ii) in connection with such reduction, cause PNC as issuer to release $10,000,000 cash collateral (the “Pledged Cash Collateral”) previously pledged by The
  evidence_url: https://www.sec.gov/Archives/edgar/data/1630805/000110465923123989/0001104659-23-123989-index.htm

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