Babcock & Wilcox Enterprises (BW) announced they will be selling $125,000,000 of $25 senior notes with a maturity in December of 2026.
The company already has 1 issue of baby bonds outstanding as well as an issue of preferred stock–both high yield issues can be seen here.
The ticker will be BWNB when they finally begin trading in the next week or two.
The preliminary prospectus can be found here.
3 thoughts on “Babcock & Wilcox Enterprises to Sell Baby Bonds”
Babcock & Wilcox Enterprises, Inc. (“B&W” or the “Company”) (NYSE: BW) announced that on December 8, 2021 it priced an underwritten public offering of $140 million aggregate principal amount of 6.50% senior notes due 2026 (the “Senior Notes”). B&W has granted the underwriters a 30-day option to purchase up to an additional $21 million aggregate principal amount of Senior Notes in connection with the offering. The offering is expected to close on December 13, 2021, subject to the satisfaction of customary closing conditions.
B&W and the Senior Notes both received a rating of BB+ from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The Company has applied to list the notes on NYSE under the symbol “BWNB” and expects the notes to begin trading within 30 business days of the closing date of this offering, if approved.
Dividends are non-qualified. BW-A is Qualified. In case you thought it was a close call.
another one for Monday’s “Junk post” i haven’t even considered any new issue for well over a year? open to any ideas that don’t require flipping.