---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-051300"
form_type: "8-K"
ticker: "BW"
cik: "0001630805"
company_name: "Babcock & Wilcox Enterprises, Inc."
filed_at: "2025-05-21T23:59:59+00:00"
generated_at: "2026-05-20T22:33:47.674031+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BW exchanges $132M of 2026 senior notes for $101M of 8.75% secured notes due 2030

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-051300
- form_type: 8-K
- ticker: BW
- cik: 0001630805
- company_name: Babcock & Wilcox Enterprises, Inc.
- filed_at: 2025-05-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1630805/000110465925051300/0001104659-25-051300-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1630805/000110465925051300/tm2515439d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-051300
- JSON: https://secwatch.observer/filing/0001104659-25-051300.json
- Plain text: https://secwatch.observer/filing/0001104659-25-051300.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1630805/000110465925051300/0001104659-25-051300-index.htm
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1630805/000110465925051300/0001104659-25-051300-index.htm

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