Wabtec Prices Public Offering Of $1.250 Bln Of Senior Notes

(RTTNews) - Wabtec Corp. (WAB) announced that it has priced a public offering of $500 million aggregate principal amount of 4.900% Senior Notes due 2030 and $750 million aggregate principal amount of 5.500% Senior Notes due 2035.

The Notes will be guaranteed by each of Wabtec's current and future subsidiaries that guarantee its indebtedness under its credit agreements or any other debt of Wabtec or any other guarantor.

The Notes will pay interest semi-annually in arrears. The 2030 Notes will mature on May 29, 2030, and the 2035 Notes will mature on May 29, 2035, unless earlier redeemed or repurchased.

Wabtec noted that it plans to use the net proceeds from the offering of the Notes for general corporate purposes, including the repayment of its outstanding 3.200% Senior Notes due 2025 at maturity, which is scheduled to occur on June 15, 2025, and the funding of a portion of the purchase price of its pending acquisition of the Inspection Technologies division of Evident Corporation and related fees and expenses.

The company expects to close sale of the Notes on May 29, 2025.

BNP Paribas Securities Corp., BofA Securities, Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the Offering.