Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 84

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 84
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 various plans that, individually, are deemed to be insignificant. 

NOTE 15 – DEBT AND CREDIT FACILITIES

Senior NotesThe components of our senior notes at December 31, 2024 are as follows:Senior Notes(in thousands)8.125% (1)6.50% (2)TotalSenior notes due in 2026$193,035 $151,440 $344,475 Unamortized deferred financing costs(1,659)(2,757)(4,416)Unamortized premium168 — 168 Net debt balance$191,544 $148,683 $340,227 The components of senior notes outstanding at December 31, 2023 are as follows:Senior Notes(in thousands)8.125% (1)6.50% (2)TotalSenior notes due in 2026$193,035 $151,440 $344,475 Unamortized deferred financing costs(2,899)(4,019)(6,918)Unamortized premium312 — 312 Net debt balance$190,448 $147,421 $337,869 (1) The 8.125% Senior Notes mature in February 2026(2) The 6.50% Senior Notes mature in December 2026Credit Agreement with Axos We entered into the Credit Agreement in January 2024, with certain of our subsidiaries as guarantors, the lenders party thereto from time to time and Axos, as administrative agent, swingline lender and letter of credit issuer.The Credit Agreement provides for an up to $150.0 million asset-based Credit Facility, including a $100.0 million letter of credit sublimit. Our obligations under the Credit Agreement are guaranteed by certain of our domestic and foreign subsidiaries. B. Riley has provided a guaranty of payment with regard to our obligations under the Credit Agreement, as further described below. We used and expect to use the proceeds and letter of credit availability under the Credit Agreement to (i) pay off our prior revolving credit facility with PNC, (ii) provide for working capital needs, (iii) provide cash collateral to secure letters of credit to be issued under the Credit Agreement, and (iv) provide for general corporate purposes. The Credit Agreement has a maturity date of January 18, 2027, provided that if as of November 28, 2025, as amended by the Fourth Amendment