Wabtec prices $500 million senior notes due 2037
Wabtec Corp. announced pricing of a $500 million senior note offering with a 5.9% coupon that matures on February 25, 2037. The company said the net proceeds, together with borrowing under its revolving credit facilities and commercial paper program, will be used to retire its 3.450% senior notes that mature on November 15, 2026. The sale is expected to close on November 4, 2026, subject to customary conditions. BofA Securities, Citigroup, PNC Capital Markets and TD Securities are serving as joint book‑runners.
Why it matters
The repayment of the higher‑coupon 2026 notes should lower Wabtec’s near‑term interest expense, according to the company’s statement (). The new 2037 notes provide longer‑dated financing at a 5.9% rate, extending the company’s debt maturity profile.
Key facts
- 1Wabtec priced a $500 million senior note offering. investing.com
- 2The notes carry a 5.900% interest rate. investing.com
- 3Maturity date is February 25, 2037. investing.com
- 4Proceeds will be used to repay 3.450% senior notes due November 15, 2026. investing.com
- 5The sale is expected to close on November 4, 2026. stocktitan.net
- 6BofA Securities, Citigroup Global Markets, PNC Capital Markets and TD Securities are joint book‑runners. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.