Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 14

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 14
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 entered
into a Credit Agreement, as described in Note 15 to the Consolidated Financial Statements included in Part II, Item 8 of our Annual Report
for fiscal year 2024 filed with the SEC on March 31, 2024, which has been amended from time to time. The Ninth Amendment provides that
the maturity date of the Credit Agreement remains January 18, 2027, provided that, if, by November 30, 2026, the 6.50% Senior Notes have
not been repaid, defeased, or otherwise satisfied in full or refinanced, or the maturity date of the 6.50% Senior Notes has not otherwise
been extended to a date on or after July 18, 2027, then the maturity date of the Credit Agreement will be November 30, 2026.

In May 2025, we completed
privately negotiated exchange transactions related to our 6.50% Senior Notes and 8.125% Senior Notes (together, the "2026 Notes")
in which we issued 8.75% Senior Notes as consideration of the cancellation of approximately $48 million aggregate principal amount of
the 6.50% Senior Notes and approximately $84 million aggregate principal amount of the 8.125% Senior Notes for approximately $101 million
aggregate principal amount of newly-issued 8.75% Senior Notes. In August 2025, we completed a cash tender offer for the remaining 2026
Notes that we have outstanding with $5.6 million of the 8.125% Senior Notes and $2.7 million of the 6.50% Senior Notes validly tendered
and not validly withdrawn, as well as a privately negotiated exchange transaction related to the 2026 Notes in which we issued the 8.75%
Senior Notes as consideration of the cancellation of approximately $5 million aggregate principal amount of the 8.125% Senior Notes and
approximately $10 million aggregate principal amount of the 6.50% Senior Notes. In October 2025, we completed the redemption of $70 million
of the 8.125% Senior Notes.

Although we have amended
the terms of and refinanced our debt in the past, there can be no assurance that our efforts to improve our financial position will be
successful or that we will be able to obtain additional capital or refinance any of our debt in the future on commercially reasonable
terms or at all. If we are