Babcock & Wilcox Enterprises Amends Credit Agreement with Axos Bank, Increasing Borrowing Capacity and Adjusting PBGC Reserve

Reuters

07-11

Babcock & Wilcox Enterprises Amends Credit Agreement with Axos Bank, Increasing Borrowing Capacity and Adjusting PBGC Reserve

Babcock & Wilcox Enterprises Inc. has entered into the Eighth Amendment to its existing Credit Agreement with Axos Bank and other lenders, as announced on July 3, 2025. This amendment allows the company to temporarily increase borrowing limits based on inventory and reduce the PBGC Reserve by $3 million until September 15, 2025, or upon the disposition of material assets. The agreement requires the company to use proceeds from the Diamond Power Disposition to repay a $3 million PBGC installment and a $48.3 million repayment of revolving loans, with any remaining funds to be used for working capital and other corporate purposes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Babcock & Wilcox Enterprises Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-25-066984), on July 10, 2025, and is solely responsible for the information contained therein.

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Babcock &amp; Wilcox Enterprises Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-25-066984), on July 10, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AX","symbol_name":"Axos Financial Inc","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250710:nNDL1Qk1kT:1","article_id":"2550901675","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2550901675","pubTimestamp":1752178000,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Babcock & Wilcox Enterprises Amends Credit Agreement with Axos Bank, Increasing Borrowing Capacity and Adjusting PBGC Reserve. 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This amendment allows the company to temporarily increase borrowing limits based on inventory and reduce the PBGC Reserve by $3 million until September 15, 2025, or upon the disposition of material assets. The agreement requires the company to use proceeds from the Diamond Power Disposition to repay a $3 million PBGC installment and a $48.3 million repayment of revolving loans, with any remaining funds to be used for working capital and other corporate purposes.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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