Wabtec said it priced an offering of $500 million in aggregate principal amount of 5.611% Senior Notes due 2034 on February 26, 2024. The Notes will be guaranteed by the company's current and future subsidiaries that guarantee its credit agreement debt.

1. 01

   Wabtec said it priced an offering of $500 million in aggregate principal amount of 5.611% Senior Notes due 2034 on February 26, 2024. The Notes will be guaranteed by the company's current and future subsidiaries that guarantee its credit agreement debt.

2. 02

   The company said the Notes will pay interest semi-annually in arrears and will mature on March 11, 2034, unless earlier redeemed or repurchased. It said the sale is expected to close on March 11, 2024, subject to customary closing conditions.

3. 03

   The company said it intends to use the net proceeds, together with cash on hand and/or borrowings under a new credit agreement, to repay in full the 4.15% Senior Notes due 2024 at maturity on March 15, 2024.

4. 04

   Wabtec said it expects to enter into a new 2024 Credit Agreement concurrently with the closing of the Notes, providing for a single borrowing of term loans in an aggregate principal amount of $225.0 million. The Notes offering is not conditioned on entry into or funding of the credit agreement.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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