Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 135

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 135
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 June 30, 2025 and December 31, 2024. As of June 30, 2025 the 6.50% Senior Notes bear an effective interest rate of 6.8%.

Senior Notes Due 2030The components of our Senior notes due 2030 at June 30, 2025 are as follows:(in thousands)8.75% (1)Senior notes due 2030$100,673 Unamortized deferred financing costs(6,243)Unamortized discount30,430 Net debt balance$124,860 (1) The 8.75% Senior notes due 2030 mature in June 2030 and is included in noncurrent liabilities in the Condensed Consolidated Balance Sheets at June 30, 2025. As of June 30, 2025 the 8.75% Senior notes due 2030 bear an effective interest rate of 5.0%.On May 20, 2025, we completed privately negotiated exchange transactions (the "Exchanges") in which we issued $100.7 million aggregate principal amount of newly-issued 8.75% Senior Secured Second Lien Notes due 2030 (the "Senior Secured Notes Due 2030") as consideration for the Exchanged Notes. The Senior Secured Notes Due 2030 are unconditionally guaranteed jointly and severally by all of our direct and indirect wholly-owned restricted subsidiaries, subject to certain excluded subsidiaries (collectively, the "Guarantors"). The Senior Secured Notes Due 2030 are secured by substantially all of our assets and the assets of the Guarantors. The security interests in our assets are subject to an intercreditor agreement pursuant to which the Senior Secured Notes Due 2030 are subordinated in right of payment and lien priority to the satisfaction in full of (i) the obligations and satisfaction of the liens under our Credit Agreement (described below), (ii) the obligations and lien under the junior secured promissory note with B. Riley and (iii) certain obligations secured by a lien in favor of the Pension Benefit Guaranty Corporation (a wholly owned United States government corporation and agency acting on behalf of the B&W Pension Plan (as defined below)) in connection with its waiver of required minimum contributions to the Retirement Plan for Employees of Babcock & Wilcox Commercial Operations (the "B&W Pension Plan"). 

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The Senior Secured Notes Due 2030 accr