Co-Manager
Wabtec Corporation
Debt Capital Markets
Senior Notes Offering
Transaction Details
- On June 29, 2020, Wabtec Corporation (“WAB” or the “Company”), a leading provider of technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide, completed a public offering of $500 million of 3.200% Senior Notes due 2025 (the “Notes”)
- The Notes priced on June 16, 2020
- The Notes will be guaranteed by each of the Company’s current and future subsidiaries that guarantee its indebtedness under its credit agreement or any other debt of the Company or any other guarantor
- The Company intends to use the net proceeds from the sale of the Notes, together with cash on hand, to fund a redemption of its outstanding Floating Rate Senior Notes due 2021
About the company
Wabtec Corporation (NYSE:WAB) is a leading global provider of equipment, systems, digital solutions and value-added services for freight and transit rail. Drawing on nearly four centuries of collective experience across Wabtec, GE Transportation and Faiveley Transport, the company has unmatched digital expertise, technological innovation, and world-class manufacturing and services, enabling the digital-rail-and-transit ecosystems. Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. The freight portfolio features a comprehensive line of locomotives, software applications and a broad selection of mission-critical controls systems, including Positive Train Control (PTC). The transit portfolio provides highly engineered systems and services to virtually every major rail transit system around the world, supplying an integrated series of components for buses and all train-related market segments that deliver safety, efficiency and passenger comfort. Along with its industry-leading portfolio of products and solutions for the rail and transit industries, Wabtec is a leader in mining, marine and industrial solutions. Wabtec has approximately 27,000 employees in facilities throughout the world.
Sources: Company Press Release and Publicly Available Information.
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The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Fixed Income Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Fixed Income Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link:. https://www.sec.gov/Archives/edgar/data/943452/000114036120014160/nt10012686x16_424b5.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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