Wabtec gets new $175 million revolver

By Sara Rosenberg

New York, Jan. 21 - Wabtec Corp. said it closed on a new $175 million five-year unsecured revolving credit facility. LaSalle Bank is serving as administrative agent and acted as lead arranger and sole bookrunner. JPMorgan Chase Bank was the syndication agent and co-arranger.

Including the two lead banks, the syndicate is comprised of a total of 11 banks, according to a company news release.

Proceeds were used to refinance the company's existing $225 million facility, which had $40 million outstanding.

"We're pleased to be working with such a solid group of banks, most of which have been with Wabtec for a long time," said Alvaro Garcia-Tunon, chief financial officer, in the release. "We appreciate their support in the past and look forward to building on our relationships in the future."

Wabtec is a Wilmerding, Pa., provider of technology-based products and services for the rail industry.

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