Wabtec (WAB), the name under which Westinghouse Air Brake Technologies Corporation operates, completed on November 4, 2026 the public offering of US$ 500 million in senior notes (unsecured debt securities) with interest of 5.900% per year and maturing in 2037. The company intends to use the net proceeds, together with borrowings under its revolving credit facilities, short-term facilities and/or issuances under its commercial paper program, to repay its 3.45% senior notes due November 15, 2026.
The notes mature on February 25, 2037. Interest is paid twice a year, on February 25 and August 25, with the first payment on February 25, 2027.
Wabtec may redeem the notes before November 25, 2036 by paying a premium calculated under the indenture (make-whole). From that date, the notes may be redeemed at 100% of the principal amount, plus accrued interest. In the event of a change of control that meets the conditions set out in the indenture, the company must offer to repurchase the notes at 101% of the principal amount, plus accrued interest.
The notes are unsecured obligations and are fully and unconditionally guaranteed by the subsidiaries that guarantee the company's credit facilities or other debt. The indenture limits the creation of secured debt on certain assets and sale and leaseback transactions, with exceptions.
