BWX Technologies completed s new $800 million senior secured credit agreement consisting of a $500 million senior secured revolving credit facility due 2023, a $50.0 million senior secured term loan A due 2023 and a $250 million (U.S. dollar equivalent) Canadian dollar senior secured term loan A due 2023.
According to a related 8-K filing, Wells Fargo served as administrative agent for lender group.
BWXT used the net proceeds from the offering of the notes, together with borrowings under the new credit facility, to repay in full all indebtedness outstanding under its existing senior secured credit agreement consisting. BWXT intends to use the remaining net proceeds for general corporate purposes.
The company also completed a $400 million aggregate principal amount of 5.375% senior notes due 2026 in a private transaction exempt from the registration requirements of the Securities Act of 1933, as amended. The notes are guaranteed by each of BWXT’s present and future direct and indirect wholly owned domestic subsidiaries that is a guarantor under the new credit facility.
