Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 46

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 46
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 the Credit Agreement), (b) the prime rate as
designated by Axos plus the Applicable Margin, and (c) Daily Simple SOFR (as defined in the Credit Agreement) plus 1.00% plus the Applicable
Margin; and (iii) with respect to the default rate under the Credit Agreement, the then-existing interest rate plus 2.00%.

In May 2025, we completed
privately negotiated exchange transactions related to the Company’s 6.50% senior notes due 2026 and 8.125% senior notes due 2026
(together, the “2026 Notes”) in which we issued 8.75% senior notes due 2030 as consideration for the cancellation of some
of our 2026 Notes. In June 2025, we commenced a cash tender offer for the remaining 2026 Notes that we have outstanding, which expired
in August 2025. Upon the expiration of the cash tender offer, 5.14% of the Company’s 8.125% senior notes due 2026 and 2.60% of the
Company’s 6.50% senior notes due 2026 were validly tendered and not validly withdrawn. In October 2025, we redeemed $70 million
of the Company’s 8.125% senior notes due 2026.

For more information on our
Credit Agreement and related matters, please see our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Reports for the fiscal quarters ended March 31, 2025 and June 30, 2025, each incorporated by reference into this prospectus supplement.
The foregoing description of the Credit Agreement is only a summary, does not purport to be complete and is qualified in its entirety
by reference to the full text of the Credit Agreement, which agreement is filed as Exhibit 10.63 to our Form 10-K filed on March 31, 2025
and is incorporated by reference herein. The Credit Agreement contains representations and warranties by us, which should not in all instances
be treated as categorial statements of fact, but rather as a way of allocating risk between parties to the Credit Agreement. The representations
and warranties were made only as of the date of the Credit Agreement or such other date or dates as may be specified by the Credit Agreement
and are subject to more recent developments.

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