Wabtec markets single tranche of fixed-rate senior notes

Chicago, Feb. 26 – Westinghouse Air Brake Technologies Corp. (Wabtec) is in the market with a single tranche of fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission on Monday morning.

The company may call the notes with a make-whole premium until the par call option starts.

There is change-of-control protection at 101.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC and TD Securities (USA) LLC are joint bookrunners.

U.S. Bank Trust Co., NA will be the trustee.

Jones Day is advising the company. Cravath, Swaine & Moore LLP is working as counsel for the underwriters.

The notes will be guaranteed by the company’s subsidiaries that guarantee Wabtec’s credit agreement.

Proceeds from the notes will be used with cash on hand and borrowings under a credit agreement to repay all of the company’s outstanding notes due on March 15, 2024.

The issuer is a Pittsburgh-based provider of products and services for rail and other industrial markets.

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