Jul. 12 at 1:52 PM
$BW Babcock & Wilcox Enterprises filed an 8-K on July 10, 2025, detailing an Eighth Amendment to its existing credit agreement with Axos Bank and other lenders. The amendment temporarily increases borrowing capacity based on inventory and reduces the PBGC reserve by
$3 million—provided that amount is repaid by September 15, 2025, at which point the reduction becomes permanent. The company will use proceeds from its Diamond Power divestiture to first repay the PBGC obligation, then pay down
$48.3 million in revolving loans (with reborrowing rights preserved), partially repay unsecured notes, and retain the remainder for working capital, capex, acquisitions, and general corporate needs. The move strengthens BW’s liquidity while reducing near-term debt pressure without equity dilution.
