Loan & DebtNov 4, 2026, 04:28 PM
Westinghouse Air Brake Technologies Corp. Issues $500M Senior Notes Due 2037
AI Summary
Westinghouse Air Brake Technologies Corp. (WAB) announced the completion of a public offering and sale of $500 million aggregate principal amount of its 5.900% Senior Notes due 2037. The net proceeds from this offering, combined with other potential funding sources, will be used to repay the company's outstanding 3.45% Senior Notes due 2026. The new notes bear interest at 5.900% annually and mature on February 25, 2037, with payments made semi-annually. The notes are senior unsecured obligations, guaranteed by certain subsidiaries.
Key Highlights
- Westinghouse Air Brake Technologies Corp. issued $500 million in 5.900% Senior Notes due 2037.
- The notes mature on February 25, 2037, with semi-annual interest payments starting February 25, 2027.
- Proceeds will be used to repay outstanding 3.45% Senior Notes due 2026 on November 15, 2026.
- The notes are senior unsecured obligations, ranking equally with other senior unsecured debt.
- Guarantees are provided by current and future subsidiaries party to specific credit agreements.
Price Impact
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