New Issue: Wabtec prices $250 million 4.375% 10-year notes to yield Treasuries plus 175 bps

By Aleesia Forni

Virginia Beach, Va., Aug. 5 - Westinghouse Air Brake Technologies Corp. (Wabtec) priced $250 million 4.375% 10-year notes at a spread of 175 basis points over Treasuries, according to a FWP filing with the Securities and Exchange Commission.

The notes priced at 99.879 to yield 4.39%.

BofA Merrill Lynch, J.P. Morgan Securities LLC and PNC Capital Markets LLC were the joint bookrunners.

The company plans to use the proceeds from the offering for general corporate purposes.

Wabtec is a Wilmerding, Pa.-based maker of railroad equipment.

Issuer:	Westinghouse Air Brake Technologies Corp.
Issue:	Senior notes
Amount:	$250 million
Maturity:	Aug. 15, 2023
Bookrunners:	BofA Merrill Lynch, J.P. Morgan Securities LLC, PNC Capital Markets LLC
Senior co-managers:	BB&T Capital Markets, RBS Securities Inc., Wells Fargo Securities LLC
Co-managers:	HSBC Securities (USA) Inc., Mitsubishi UFJ Securities (USA) Inc., Avondale Partners LLC, Raymond James & Associates Inc., Scotia Capital (USA) Inc., UBS Securities LLC
Coupon:	4.375%
Price:	99.879
Yield:	4.39%
Spread:	Treasuries plus 175 bps
Call:	At par three months prior to maturity
Make-whole call:	30 bps over Treasuries anytime up to three months prior to maturity
Trade date:	Aug. 5
Settlement date:	Aug. 8
Ratings:	Moody's: Baa3
	Standard & Poor's: BBB-
Distribution:	SEC registered

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