Babcock & Wilcox Announces Private Bond Exchanges to Reduce Outstanding Debt, Lower Annual Interest Expense and Extend Debt Maturity to 2030 (Form 8-K)

Babcock & Wilcox Announces Private Bond Exchanges to Reduce Outstanding Debt, Lower Annual Interest Expense and Extend Debt Maturity to 2030

(AKRON, Ohio - May 12, 2025) - Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced it has entered into privately negotiated exchanges with a limited number of noteholders (the "Exchanges") that will result in $131.8 million of the Company's outstanding Senior Notes due 2026 being exchanged for $100.8 million in newly issued 8.75% Senior Secured Second Lien Notes due 2030 (the "New Notes"). The Exchanges will include approximately $84 million in 8.125% Senior Notes due February 28, 2026 and approximately $48 million in 6.50% Senior Notes due December 31, 2026. Total interest expense will be reduced by $1.1 million annually. The Exchanges are subject to customary closing conditions.

The offer and sale of the New Notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and the New Notes may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release does not and shall not constitute an offer to sell nor the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of any such securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.