Wabtec Announces Pricing of Senior Notes Offering
PITTSBURGH, May 19, 2025--(BUSINESS WIRE)--Wabtec Corporation (NYSE: WAB) ("Wabtec") today announced that it has priced a public offering (the "Offering") of (i) $500 million aggregate principal amount of 4.900% Senior Notes due 2030 (the "2030 Notes") and (ii) $750 million aggregate principal amount of 5.500% Senior Notes due 2035 (the "2035 Notes" and, together with the 2030 Notes, the "Notes"). The Notes will be guaranteed by each of Wabtec's current and future subsidiaries that guarantee its indebtedness under its credit agreements or any other debt of Wabtec or any other guarantor.
The Notes will pay interest semi-annually in arrears. The 2030 Notes will mature on May 29, 2030, and the 2035 Notes will mature on May 29, 2035, unless earlier redeemed or repurchased.
Wabtec intends to use the net proceeds from the offering of the Notes for general corporate purposes, including the repayment of its outstanding 3.200% Senior Notes due 2025 (the "2025 Notes") at maturity, which is scheduled to occur on June 15, 2025, and the funding of a portion of the purchase price of its pending acquisition of the Inspection Technologies division of Evident Corporation (the "Inspection Technologies Acquisition") and related fees and expenses.
The sale of the Notes is expected, subject to customary closing conditions, to close on May 29, 2025.
BNP Paribas Securities Corp., BofA Securities, Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the Offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The Offering is being made under an automatic shelf registration statement on Form S-3 (File No. 333-275386) filed with the Securities and Exchange Commission ("SEC") on November 8, 2023, as amended by the Post-Effective Amendment No. 1 filed with the SEC on May 19, 2025 (as amended, the "Registration Statement"). The Offering may be made only by means of a prospectus and related prospectus supplement. Before you invest, you should read the Registration Statement, including the prospectus, and prospectus supplement, and other documents Wabtec has filed with the SEC for more complete information about Wabtec and this Offering. You may get these documents for free by visiting EDGAR on the SEC's website at http://www.sec.gov. Alternatively, to obtain a copy of the prospectus and the prospectus supplement for this Offering, please contact BNP Paribas Securities Corp. toll-free at 1-800-854-5674, BofA Securities, Inc. toll-free at 1-800-294-1322, HSBC Securities (USA) Inc. toll-free at 1-866-811-8049 or J.P. Morgan Securities LLC collect at 212-834-4533.
About Wabtec
Wabtec Corporation (NYSE: WAB) is revolutionizing the way the world moves for future generations. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 155 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking" statements as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. All statements, other than historical facts, including statements regarding Wabtec's offering of the Notes, the use of proceeds therefrom, Wabtec's planned repayment of the 2025 Notes, completion of the Inspection Technologies Acquisition, and any assumptions underlying any of the foregoing, are forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "could," "project," "predict," "continue," "target" or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Further information on the risk factors that may affect Wabtec's business and financial performance is as detailed from time to time in Wabtec's reports filed with the SEC, including Wabtec's annual report on Form 10-K, periodic quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC. The foregoing list of important factors is not exclusive. Wabtec may not close the sale of the Notes and, if the sale of the Notes closes, cannot provide any assurances regarding its final terms. Any forward-looking statements in this press release speak only as of the date of this press release. Wabtec does not undertake any obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250519305792/en/
Contacts
Wabtec Investor Relations Contact Kyra Yates817-349-2735Kyra.Yates@wabtec.com
Wabtec Media Contact Tim Bader682-319-7925Tim.Bader@wabtec.com

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
Judge Orders J&J Subsidiary to Pay $442 Million in Antitrust Lawsuit
Johnson & Johnson (NYSE:JNJ) is one of the best Dow stocks to invest in. Recently, a federal judge ruled that a Johnson & Johnson subsidiary must pay $442 million in damages after a jury concluded last month that the company had broken antitrust laws by withholding support from hospitals that used reprocessed catheters. U.S. District Judge James Selna ordered the company to pay three times the $147 million in damages awarded by the jury, as permitted under antitrust regulations. This sum does not include legal fees or other related costs. Daniel Vukelich, CEO of the Association of Medical Device Reprocessors, described the decision as 'a seismic result.' In response, a Johnson & Johnson (NYSE:JNJ) spokesperson said the company intends to appeal the verdict but will comply with the court's decision and any required relief for now. The spokesperson added, 'We strongly disagree with the jury's verdict and believe it will not withstand appellate review.' Innovative Health sued Johnson & Johnson (NYSE:JNJ)'s Biosense Webster in 2019, claiming the company used its market power to block hospitals from using reprocessed heart-mapping catheters by tying support for its Carto 3 system to purchases of its own products. A jury found Johnson & Johnson (NYSE:JNJ) violated antitrust laws by withholding support for the reprocessed devices. AMDR's CEO said the ruling signals that anti-competitive tactics against reprocessing won't be tolerated. The case was heard in the U.S. District Court for the Central District of California. While we acknowledge the potential of JNJ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None.
Yahoo
28 minutes ago
- Yahoo
Legislation could help speed air cargo shipments
WASHINGTON — Legislation introduced in the House and Senate could help speed air cargo shipments through the supply chain by using a new funding incentive for surface transportation projects. The Don't Miss Your Flight Act, introduced last week in the House by U.S. Reps. Steve Cohen, D-Tenn. and David Kustoff, R-Tenn. and in the Senate by U.S. Sens. Marsha Blackburn, R-Tenn., and Tammy Duckworth, D-Ill., would use existing federal funding to create an incentive for surface transportation projects at and within five miles of a public airport. 'We've all been there – you're rushing to the airport but then get stuck in traffic outside while worrying that your flight is going to take off without you,' Duckworth said in a press statement. 'Airports like Chicago O'Hare and so many others are building to keep up with the growing passenger demand, but our surface transportation leading into and out of our airports needs to keep pace.' In addition to passenger benefits, Kustoff emphasized benefits to cargo shipments as well.'It is imperative that shipments can get in and out of Memphis quickly and effectively,' he said. 'The Don't Miss Your Flight Act is critical legislation that will ensure federal funding is used to modify surface transportation around our nation's busiest airports.' Cohen added that as the nation's busiest cargo airport, Memphis International Airport 'is at the confluence of river, rail and highway circuits we call 'America's Distribution Center',' he said. 'Updates to the ground infrastructure in Memphis and around the country through grants authorized under the Don't Miss Your Flight Act will modernize and improve the air traveler's experience.' Memphis International Airport is the third busiest cargo airport in the world, behind airports in Hong Kong and Shanghai, according to the latest ranking by Airports Council International. FedEx Corp. (NYSE: FDX), headquartered in Memphis, is the airport's largest cargo operator, operating approximately 400 flights per day, according to the airport. The bill's language states that a project eligible for grant funds under the legislation is a project that:Connects to a public airport. Makes improvements on land that is on or within five miles of that public airport. Reduces congestion, expands capacity, provides access to under-connected areas, or rehabilitates roadway, rail, or transit infrastructure, including bridges, tunnels, and rolling stock. Airlines lower air cargo forecast amid escalating trade war FedEx converts parcel freighter to heavy cargo operation Just steal it: Why carriers avoid Memphis Click for more FreightWaves articles by John Gallagher. The post Legislation could help speed air cargo shipments appeared first on FreightWaves.


Business Wire
33 minutes ago
- Business Wire
Securities Fraud Investigation Into Sable Offshore Corp. (SOC) Announced – Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz
LOS ANGELES--(BUSINESS WIRE)-- The Law Offices of Frank R. Cruz announces an investigation of Sable Offshore Corp. ('Sable' or the 'Company') (NYSE: SOC) on behalf of investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON SABLE OFFSHORE CORP. (SOC), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS. What Is The Investigation About? On May 19, 2025, Sable announced that it had resumed oil production from one of three offshore platforms related for its Las Flores pipelines ('Onshore Pipeline') in California. Then, on May 23, 2025, the California State Land Commission sent Sable a letter regarding its May 19th announcement, warning that it 'appears to mischaracterize the nature of recent activities, causing significant public confusion and raising questions regarding Sable's intentions,' and that Sable had conflated offshore well testing activities required by a federal regulatory agency with the restart of operations. Then, on May 28, 2025, the Santa Barbara County Superior Court approved a preliminary injunction from the California Coastal Commission regarding Sable's maintenance and repair work in the coastal zone related to the Onshore Pipeline. On this news, Sable's stock price fell $5.04, or 15.3%, to close at $27.89 per share on May 28, 2025, thereby injuring investors. Contact Us To Participate or Learn More: If you purchased Sable securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 Call us at: 310-914-5007 Email us at: info@ Visit our website at: Follow us for updates on Twitter at If you inquire by email, please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.