Wabtec enters $600 million five-year revolver led by PNC, JPMorgan

By Susanna Moon

Chicago, Nov. 7 - Wabtec Corp. said it closed a $600 million five-year revolving credit facility with 15 banks led by PNC Bank as joint bookrunner and administrative agent and JPMorgan as joint bookrunner and syndication agent.

The facility replaces the company's $500 million credit agreement, which included a term loan and revolver, both set to expire in 2013, according to a company press release.

The financing "provides more than adequate capital and flexibility for Wabtec to continue to invest in our global growth initiatives," Alvaro Garcia-Tunon, Wabtec's executive vice president, chief financial officer and secretary, said in the release.

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

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