Westinghouse Air Brake Technologies Corp Announces $500M Senior Notes Offering

Details

The notes were issued under the Company's existing Indenture, which has been supplemented by a Twelfth Supplemental Indenture. The notes will bear interest at 5.611% per year, payable semi-annually, and mature on March 11, 2034. The Company may redeem the notes under certain conditions, and all payments will be guaranteed by the Company's subsidiaries. The offering was made under the Company's shelf registration statement on Form S-3. Additionally, the Company expects to enter into a new credit agreement by March 14, 2024, which is not conditioned upon the notes offering.

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About Wabtec Corporation

Wabtec Corporation is a leading provider of technology-based equipment and services for the global rail industry. The company, formed through the merger of Wabtec and GE Transportation, specializes in developing, manufacturing, and servicing products that enhance the safety, efficiency, and productivity of freight and transit rail. Notable offerings include locomotives, control systems, and digital solutions that contribute to the optimization of rail network management. Wabtec also delivers crucial after-market services and refurbishment for railway equipment. Serving a critical role in the logistics and transportation sector, Wabtec finds its place at the intersection of innovation and infrastructure, aiding in the smooth flow of goods and passengers over vast distances. Leveraging decades of experience, the company's solutions not only support rail safety and operation but also align with broader trends in sustainability, as rail is one of the more environmentally friendly modes of transport. Headquartered in Pittsburgh, Pennsylvania, Wabtec is a major player in the transportation equipment industry, with a global footprint that underscores its importance in the rail supply chain.