Wabtec intends to conduct three-part notes sale via four bookrunners

By Devika Patel

Knoxville, Tenn., Sept. 10 – Westinghouse Air Brake Technologies Corp. (Wabtec) plans to offer senior notes in three tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be sold in one floating-rate tranche due in 2021 and two fixed-rate tranches, due in 2024 and 2028.

The floaters are callable at par after one year. The fixed-rate notes have a make-whole call and then a par call.

Goldman Sachs & Co., BofA Merrill Lynch, J.P. Morgan Securities LLC and PNC Capital Markets LLC are the bookrunners.

Proceeds will be used to fund the merger of the company and General Electric Co.'s transportation businesses.

Wabtec is a Wilmerding, Pa.-based provider of products and services for rail and other industrial markets.

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