Babcock & Wilcox Enterprises, a provider of energy and environmental products and services, entered into a new three-year senior secured credit agreement with Axos Bank under which Axos has provided an asset-based revolving credit facility of up to $150 million.
According to an 8K, Bank of America is the administrative agent for an amended credit agreement for Babcock & Wilcox. In addition, B. Riley Financial provided $30 million of new tranche A last-out term loans and committed to provide additional last-out term loans to B&W.
B. Riley FBR, a full service investment bank and wholly-owned subsidiary of B. Riley Financial, has entered into a credit agreement with Babcock & Wilcox Enterprises, a global supplier of energy and environmental technologies and services which has been in operation for more than 150 years. B. Riley FBR served as lead arranger for a $150 million secured financing via a last out term loan for B&W.