debt
confidence high
sentiment neutral
materiality 0.70
Babcock & Wilcox amends credit agreement to govern proceeds from asset sales
Babcock & Wilcox Enterprises, Inc.
- Second Amendment consents to asset sales; proceeds must first repay $10M revolver, $15M pension, $10M L/Cs, $1.6M to PNC.
- Up to $54M to repay revolver (reborrowable) and $193M to repay 8.125% and 6.50% senior notes due 2026.
- Maturity extended to Oct 31, 2025 if unsecured notes not refinanced; otherwise remains Jan 18, 2027.
- Amendment fee of $50,000 paid to Axos Bank as administrative agent.