Babcock & Wilcox Enterprises, Inc. (BW): debt financing — BW exchanges $132M of 2026 senior notes for $101M of 8.75% secured notes due 2030

Babcock & Wilcox Enterprises, Inc.

Exchanged ~$48M of 6.50% Senior Notes due 2026 and ~$84M of 8.125% Senior Notes due 2026 for ~$101M new 8.75% Second Lien Notes due 2030.
New notes accrue 8.75% interest, payable semi-annually, mature June 30, 2030; secured by substantially all assets (subordinated to existing first-lien debt).
Credit agreement amended to extend maturity to Jan 18, 2027, but accelerates if 8.125% notes not repaid by Nov 28, 2025 or 6.50% notes by Sep 30, 2026.
Existing exchanged notes were cancelled upon issuance of the new notes.
Interest on new notes commences with first payment Dec 30, 2025; company may redeem after May 19, 2026 at 100% plus accrued interest.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Babcock & Wilcox Enterprises, Inc. amended credit facility with Axos Bank, as administrative agent maturing January 18, 2027.

Instrument: credit facility
Counterparty: Axos Bank, as administrative agent
Maturity: January 18, 2027
Event: amendment

Exact text from the filing

The Seventh Amendment, among other things, permits the Exchange, the issuance of the 8.75% Senior Secured Second Lien Notes due 2030 and the transactions contemplated thereby, and amends the maturity date to January 18, 2027; provided that (i) if the Company’s 8.125% senior notes due 2026 are not repaid, defeased, or otherwise satisfied in full or refinanced by November 28, 2025 or the maturity date has not otherwise been extended to a date on or after July 18, 2027, then November 28, 2025, and (ii) if the Company’s 6.50% senior notes due 2026 are not repaid, defeased, or otherwise satisfied in full or refinanced by September 30, 2026, or the maturity date has not otherwise been extended to a date on or after July 18, 2027, then September 30, 2026.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Babcock & Wilcox Enterprises, Inc. incurred senior notes of approximately $101 million aggregate principal amount with two institutional investors at 8.75% per annum maturing June 30, 2030.

Instrument: senior notes
Principal: approximately $101 million aggregate principal amount
Counterparty: two institutional investors
Rate: 8.75% per annum
Maturity: June 30, 2030
Event: incurrence

Exact text from the filing

the Investors exchanged a total of approximately $48 million aggregate principal amount of the Company’s 6.50% Senior Notes due 2026 and approximately $84 million aggregate principal amount of the Company’s 8.125% Senior Notes due 2026 owned by them (the “Exchanged Notes”) for approximately $101 million aggregate principal amount of newly-issued 8.75% Senior Secured Second Lien Notes due 2030

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10 debt financings filed in the last 30 days. Browse all debt financings →

Babcock & Wilcox Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-051300

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