Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 55

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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168 — 168 Net debt balance$191,544 $148,683 $340,227 (1) The 8.125% Senior Notes mature in February 2026, and $98.2 million is included in current liabilities in the Condensed Consolidated Balance Sheets at September 30, 2025. $191.5 million is included in noncurrent liabilities in the Condensed Consolidated Balance Sheets at December 31, 2024. As of September 30, 2025 the 8.125% Senior Notes bear an effective interest rate of 12.0%.(2) The 6.50% Senior Notes mature in December 2026 and are included in noncurrent liabilities in the Condensed Consolidated Balance Sheets at September 30, 2025 and December 31, 2024. As of September 30, 2025 the 6.50% Senior Notes bear an effective interest rate of 7.6%.

Senior Notes Due 2030The components of our Senior Notes due 2030 at September 30, 2025 are as follows:(in thousands)8.75% (1)Senior Notes due 2030$121,073 Unamortized deferred financing costs(5,324)Unamortized gain28,897 Net debt balance$144,646 (1) The 8.75% Senior Notes mature in June 2030 and is included in noncurrent liabilities in the Condensed Consolidated Balance Sheets at September 30, 2025. As of September 30, 2025 the 8.75% Senior Notes bear an effective interest rate of 4.9%.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 

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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