EX-25.1 7 exhibit251-wfformtx1.htm EXHIBIT 25.1 Exhibit


Exhibit 25.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549
_____________________________

FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
_____________________________

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)

WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)

A National Banking Association                            94-1347393
(Jurisdiction of incorporation or                                (I.R.S. Employer
organization if not a U.S. national                            Identification No.)
bank)
101 North Phillips Avenue
Sioux Falls, South Dakota                                57104
(Address of principal executive offices)                            (Zip code)

Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)
 
 
 
_______________________
BABCOCK & WILCOX ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
Delaware
47-2783641
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification Number)
The Harris Building
13024 Ballantyne Corporate Place, Suite 700
Charlotte, North Carolina 28277
Phone: (704) 625-4900
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
 
_________________________

Senior Debt Securities













Item 1.    General Information. Furnish the following information as to the trustee:

(a)
Name and address of each examining or supervising authority to which it is subject.

Comptroller of the Currency
Treasury Department
Washington, D.C.

Federal Deposit Insurance Corporation
Washington, D.C.

Federal Reserve Bank of San Francisco
San Francisco, California 94120

(b)
Whether it is authorized to exercise corporate trust powers.

The trustee is authorized to exercise corporate trust powers.

Item 2.
Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15. Foreign Trustee.    Not applicable.

Item 16. List of Exhibits.
List below all exhibits filed as a part of this Statement of Eligibility.

Exhibit 1.
A copy of the Articles of Association of the trustee now in             effect.*

Exhibit 2.
A copy of the Comptroller of the Currency Certificate of Corporate
Existence for Wells Fargo Bank, National Association, dated January 14, 2015.**
Exhibit 3.
A copy of the Comptroller of the Currency Certification of Fiduciary Powers for Wells Fargo Bank, National Association, dated January 6, 2014.**

Exhibit 4.
Copy of By-laws of the trustee as now in effect.**

Exhibit 5.
Not applicable.

Exhibit 6.
The consent of the trustee required by Section 321(b) of the Act.






Exhibit 7.
A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.

Exhibit 8.
Not applicable.

Exhibit 9.
Not applicable.



*    Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of file number 333-130784.

** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit to the Filing 305B2 dated March 13, 2015 of file number 333-190926.










SIGNATURE


Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Dallas and State of Texas on the 21st of February, 2017.






WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Patrick T. Giordano
Patrick T. Giordano
Vice President









EXHIBIT 6



February 21, 2017

Securities and Exchange Commission
Washington, D.C. 20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request thereof.





Very truly yours,

WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Patrick T. Giordano
Patrick T. Giordano
Vice President



























Exhibit 7
Consolidated Report of Condition of

Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business December 31, 2016, filed in accordance with 12 U.S.C. §161 for National Banks.

Dollar Amounts
In Millions
______________
ASSETS
Cash and balances due from depository institutions:
Noninterest-bearing balances and currency and coin                            $ 19,607
Interest-bearing balances                                         200,504
Securities:
Held-to-maturity securities                                     99,478
Available-for-sale securities                                     286,478
Federal funds sold and securities purchased under agreements to resell:
Federal funds sold in domestic offices                                 77
Securities purchased under agreements to resell                             22,705
Loans and lease financing receivables:
Loans and leases held for sale                                     19,947
Loans and leases, net of unearned income                     924,819
LESS: Allowance for loan and lease losses                         10,502
Loans and leases, net of unearned income and allowance                         914,317
Trading Assets                                                 36,745
Premises and fixed assets (including capitalized leases)                             7,745
Other real estate owned                                             915
Investments in unconsolidated subsidiaries and associated companies                         11,334
Direct and indirect investments in real estate ventures                      233
Intangible assets
Goodwill                                             22,695
Other intangible assets                                         17,298
Other assets                                                 67,157
___________
Total assets                                             $1,727,235
LIABILITIES
Deposits:
In domestic offices                                     $1,218,766
Noninterest-bearing                             407,266
Interest-bearing                             811,500
In foreign offices, Edge and Agreement subsidiaries, and IBFs                     120,624
Noninterest-bearing                             1,115
Interest-bearing                             119,509
Federal funds purchased and securities sold under agreements to repurchase:
Federal funds purchased in domestic offices                             6,444
Securities sold under agreements to repurchase                             9,562










Dollar Amounts
In Millions
_______________

Trading liabilities                                                 13,951
Other borrowed money
(includes mortgage indebtedness and obligations under capitalized leases)                 159,898
Subordinated notes and debentures                                         13,200
Other liabilities                                                 29,006
_______
Total liabilities                                             $1,571,451


EQUITY CAPITAL
Perpetual preferred stock and related surplus 0
Common stock                                                 519
Surplus (exclude all surplus related to preferred stock)                              106,705
Retained earnings                                                 49,373
Accumulated other comprehensive income                                     (1,220)
Other equity capital components                                         0
________
Total bank equity capital                                             155,377
Noncontrolling (minority) interests in consolidated subsidiaries                         407

Total equity capital                                             155,784    
________
Total liabilities, and equity capital                                      $1,727,235


I, John R. Shrewsberry, Sr. EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared
in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge
and belief.


John R. Shrewsberry
Sr. EVP & CFO

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us
and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate
Federal regulatory authority and is true and correct.



Directors
James Quigley
Enrique Hernandez, Jr
Cynthia Milligan