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


Business Wire
18 minutes ago
- Business Wire
BBAI Deadline Today: Rosen Law Firm Urges BigBear.ai Holdings, Inc. (NYSE: BBAI) Stockholders with Large Losses to Contact the Firm for Information About Their Rights
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of securities of Holdings, Inc. (NYSE: BBAI) between March 31, 2022 and March 25, 2025, both dates inclusive (the 'Class Period'). is an artificial intelligence ('AI')-driven technology solutions company. For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that Holdings, Inc. (NYSE: BBAI) Misled Investors Regarding its Business Operations. According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (2) as a result, incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under Accounting Standards Codification ('ASC') 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (3) accordingly, had improperly accounted for the 2026 Convertible Notes; (4) the foregoing error caused to misstate various items in several of previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; (6) would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that would be unable to timely file certain financial reports with the SEC; and (7) as a result, public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. What Now: You may be eligible to participate in the class action against Holdings, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by June 10, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome.
Yahoo
18 minutes ago
- Yahoo
Associated Bank launches AI Academy, a summer youth education program
In partnership with Boys and Girls Clubs of Greater Milwaukee and Milky Way Tech Hub, Associated Bank AI Academy will boost digital skills and financial literacy among Milwaukee youth MILWAUKEE, June 10, 2025 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated") today announced a dynamic pilot program aimed at empowering Milwaukee youth with essential skills in artificial intelligence (AI) and financial literacy: Associated Bank AI Academy. Associated Bank AI Academy is a six-week curriculum designed for local youths to help them learn critical life skills. Led by Terry L. Williams, chief information officer at Associated Bank, the new initiative will launch this summer as part of the Boys & Girls Clubs of Greater Milwaukee's curriculum. The program is designed for sixth through eighth grade students and will focus on artificial intelligence, financial literacy, and entrepreneurship—including hands-on instruction in prompt engineering using platforms like ChatGPT and learning fundamentals of data science. "Supporting innovation in youth education is a core part of Associated Bank's commitment to the community," said Williams. "This program blends financial literacy with emerging technology to give young minds a head start in understanding how artificial intelligence will shape their ongoing education and future—and we're proud to partner with Boys and Girls Club and Milky Way Tech Hub to bring it to Milwaukee." Each week, Associated Bank AI Academy will focus on a new topic, building each week's learning off each other to build a wholistic view of how AI will shape the future. Students will earn "Associated Bank Bucks," a co-branded incentive system to recognize their participation and performance in the program. These "bucks" can be exchanged for Associated Bank merchandise and other exclusive rewards, making the learning experience both meaningful and fun. Milky Way Tech Hub will help facilitate the classes and Boys & Girls Clubs of Greater Milwaukee will host and manage the pilot and class operations at one of their Milwaukee-area locations. "This partnership embodies what Milky Way Tech Hub stands for—equity, education and empowering future innovators," said Nadiyah Johnson, founder and CEO of Milky Way Tech Hub. "We're thrilled to work alongside Associated Bank to provide young people with tools to build wealth and navigate the future of tech." Boys & Girls Clubs of Greater Milwaukee will announce additional details, including how parents can register their children for AI Academy. "Our youth development work at the Boys & Girls Clubs will rise or fall on our ability to innovate. Our offerings must be engaging, fun, relevant, and genuinely life changing. Otherwise, kids vote with their feet, and we lose them," said Jeff Snell, president and CEO, Boys and Girls Club of Greater Milwaukee. "Associated Bank's AI Academy available to our members—the first such AI learning experience as a career pathway for Boys & Girls Clubs members in Wisconsin—is a perfect example, capturing young imaginations, providing a context to aspire, and then equipping them in new ways to be productive, responsible, caring citizens. We are very grateful." The program will begin July 7 and will start with a cohort of 15–20 students. Sessions will be delivered by Milky Way Tech Hub facilitators in partnership with employee volunteers from Associated Bank supporting the hands-on youth training. The program will culminate with a celebration hosted at the Associated Bank River Center. Planning is already underway to expand the program once a successful pilot is complete. Associated Bank and Milky Way Tech Hub are also collaborating on a series of co-branded materials to promote the initiative across the city. For more information on Milky Way Tech Hub's programs and partnerships, visit For more information on the Boys & Girls Clubs of Great Milwaukee, visit: ABOUT ASSOCIATED BANC-CORPAssociated Banc-Corp (NYSE: ASB) has total assets of $43 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois, Minnesota and Missouri. The company also operates loan production offices in Indiana, Kansas, Michigan, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at Media Contacts:Leia Ferrari Traner, Milky Way Tech Hub (leia@ Andrea Kozek, Associated Bank ( Norwood, Boys & Girls Club of Greater Milwaukee ( View original content to download multimedia: SOURCE Associated Banc-Corp Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
- Yahoo
PHINIA Present at Wells Fargo's 2025 Industrials and Materials Conference
AUBURN HILLS, Mich., June 10, 2025--(BUSINESS WIRE)--PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, participated today, Tuesday, June 10, 2025, in the Wells Fargo's 2025 Industrials and Materials Conference. PHINIA's participation was in-person and consisted of a fireside chat and investor meetings. PHINIA's President and CEO, Brady Ericson, and CFO, Chris Gropp, joined a fireside chat with Wells Fargo's, Colin Langan. The event was webcasted and is available on PHINIA's Investor Relations website. Event information can be found below. Event Title: Wells Fargo 2025 Industrials and Materials ConferenceEvent Date: Tuesday, June 10, 2025, at 10:10–10:50 AM Eastern Time Webcast Access: About PHINIA PHINIA is an independent, market-leading, premium solutions and components provider with over 100 years of manufacturing expertise and industry relationships, with a strong brand portfolio that includes DELPHI®, DELCO REMY® and HARTRIDGE™. With over 12,500 employees across 43 locations in 20 countries, PHINIA is headquartered in Auburn Hills, Michigan, USA. Across commercial vehicles and industrial applications (medium-duty and heavy-duty trucks, buses and other off-highway construction, marine, agricultural and aerospace and defense), light commercial vehicles (vans and trucks) and light passenger vehicles (passenger cars, mini-vans, cross-overs and sport-utility vehicles), we develop fuel systems, electrical systems and aftermarket solutions designed to keep combustion engines operating at peak performance, while at the same time investing in advanced technologies to unlock the potential of alternative fuels. By providing what the market needs today to become more efficient and sustainable, while also developing innovative products and solutions to contribute to lower carbon mobility, we are the partner of choice for a diverse array of customers – powering our shared journey toward a cleaner tomorrow. © 2025 PHINIA Inc. All Rights Reserved. (DELCO REMY is a registered trademark of General Motors LLC, licensed to PHINIA Technologies Inc.) View source version on Contacts IR contact:Kellen FerrisVice President of Investor Relationsinvestors@ +1 947-262-5256Media contact:Kevin PriceGlobal Brand & Communications Directormedia@ +44 (0) 7795 463871Category: IR Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data