BWX Technologies, Inc. Launches Cash Tender Offers and Consent Solicitations for its 4.125% Senior Notes due 2028 and 4.125% Senior Notes due 2029
Key Highlights
- ➤BWXT launches cash offers for $400 million 2028 notes and $400 million 2029 notes
- ➤Offers expire November 10, 2026, with expected settlement November 13, 2026
- ➤BWXT seeks consents to eliminate restrictive covenants and certain events of default
- ➤New notes offering and cash on hand must fund repurchases and debt discharge
- ➤Proposed amendments require majority consent for each notes series
BWX Technologies, Inc. Launches Cash Tender Offers and Consent Solicitations for its 4.125% Senior Notes due 2028 and 4.125% Senior Notes due 2029
BWX Technologies, Inc. (NYSE: BWXT) (“BWXT”) announced today that it has commenced (i) offers to purchase for cash (the “Offers”) from each holder and beneficial owner (each, a “Holder”) any and all of its outstanding 4.125% Senior Notes due 2028 (CUSIP Nos. 05605H AB6 / U12213 AB7) (the “2028 Notes”) and 4.125% Senior Notes due 2029 (CUSIP Nos. 05605H AC4 / U12213 AC5) (the “2029 Notes” and, together with the 2028 Notes, the “Notes” and each, a “Series”) and (ii) solicitations (the “Solicitations”) of consents (“Consents”) to certain proposed amendments to each of the indentures governing the Notes (as amended or supplemented, the “Indentures”), as described below. The Offers and the Solicitations are being made on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated the date hereof (the “Statement”). Capitalized terms used but not defined in this press release have the meanings given to them in the Statement.
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