Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 69

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 69
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 rank equally with all of our existing
and future senior unsecured indebtedness senior in right of payment to all of our subordinated indebtedness.

The 2021 Base Indenture does
not limit the aggregate principal amount of debt securities that may be issued under it and provides that debt securities may be issued
under it from time to time in one or more series. We may specify a maximum aggregate principal amount for the debt securities of any
series.

Unless otherwise specified
in the applicable prospectus supplement, the 2021 Base Indenture does not afford the holders of the debt securities the right to require
us to repurchase or redeem the debt securities in the event of a highly-leveraged transaction.

We are not obligated to issue
all debt securities of one series at the same time and, unless otherwise provided in the applicable prospectus supplement, we may reopen
a series, without the consent of the holders of the outstanding debt securities of that series, for the issuance of additional debt securities
of that series. Additional debt securities of a particular series will have the same terms and conditions as outstanding debt securities
of such series, except for the issue date and, in some cases, the public offering price and the first interest payment date, and will
be consolidated with, and form a single series with, such outstanding debt securities; provided, however, that if such additional debt
securities are not fungible with the outstanding debt securities of such series for U.S. federal income tax purposes, the additional
debt securities will have a separate CUSIP number.

We will set forth in a prospectus
supplement relating to any debt securities being offered, the aggregate principal amount and the following terms of the debt securities,
if applicable:

| · | the title of debt securities; |

| · | the price or prices (expressed as a percentage of the          
 principal amount) at which the debt securities will be issued; |

| · | any limit on the aggregate principal amount of the 
 series of debt securities;                         |

| 30 |

| · | whether the debt securities                                                                                                                   
 will be senior debt securities or subordinated debt securities, and if they are subordinated debt securities, the terms of the subordination; |

| · | the date or dates on which the principal on the series 
 of debt securities is payable;                         |

| · | the rate or rates (which                                                                                                           
 may be fixed or variable) per annum or the method used to determine such rate or rates (including any