Babcock & Wilcox Enterprises Inc. has announced the completion of a privately negotiated exchange transaction with institutional investors, involving the conversion of existing Senior Notes for newly issued debt. The company exchanged approximately $132 million in Senior Notes due 2026 for about $101 million in new 8.75% Senior Secured Second Lien Notes due 2030. The new notes will accrue interest at 8.75% per annum, payable semi-annually starting December 30, 2025, with a maturity date of June 30, 2030. The company retains the option to redeem the notes in whole or in part after May 19, 2026, at face value plus any accrued interest. This strategic move aims to optimize the company's debt structure while adhering to specific covenants and maintaining flexibility under its credit arrangements.
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