Company: BWXT
Filing Date: 2025-11-10
Form Type: 8-K
Source: 0001104659-25-109152
Chunk: 6

Company: BWX Technologies, Inc.
Filing Date: 2025-11-10
Form: 8-K
Item: Item 1.01
Chunk 6
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 New Credit Facility, for the last four full fiscal quarters,
with certain exceptions based on total net leverage and available liquidity. The Company’s obligations under the New Credit Facility
are guaranteed by the same Guarantors that guarantee the Notes. The New Credit Facility is secured by first-priority liens on certain
assets owned by the Company and the Guarantors (other than its subsidiaries comprising a portion of its Government Operations segment),
provided such liens may be released if the Company obtains investment grade ratings from specified rating agencies.

The New Credit Facility allows
for additional parties to become lenders and, subject to certain conditions, for the increase of the commitments under the New Credit
Facility, subject to an aggregate maximum for all additional commitments of (1) the greater of (a) $600 million and (b) 100% of EBITDA,
as defined in the New Credit Facility, for the last four full fiscal quarters, plus (2) additional amounts provided the Company is in
compliance with a pro forma leverage ratio test.

Outstanding loans under the
New Credit Facility will bear interest at the Company’s option at either (i) the Term SOFR rate plus a margin ranging from 1.00%
to 1.75% per year or (ii) the base rate (the highest of (x) the administrative agent’s prime rate, (y) the Federal Funds rate plus
0.50% and (z) the Term SOFR rate for a one-month tenor plus 1.00%) plus a margin ranging from 0.00% to 0.75% per year. In addition, the
Company will be charged (1) a commitment fee of between 0.15% and 0.225% per year on the unused portion of the New Credit Facility, (2)
a letter of credit fee of between 1.00% and 1.75% per year with respect to the amount of each financial letter of credit issued under
the New Credit Facility, and (3) a letter of credit fee of between 0.75% and 1.05% per year with respect to the amount of each performance
letter of credit or commercial letter of credit issued under the New Credit Facility. The applicable margin for loans, the commitment
fee and the letter of credit fees set forth above will vary quarterly based on the Company’s consolidated total net leverage ratio.

The Company may prepay all
loans under the New Credit Facility at any time without premium or