Wabtec, a global provider of equipment, systems, and services for freight rail, passenger transit, mining, and industrial markets, has priced a $500 million public offering of senior notes.
The notes will carry an annual interest rate of 5.900% and mature on February 25, 2037, unless redeemed or repurchased earlier.
Interest will be paid semiannually, and the securities will be guaranteed by current and future Wabtec subsidiaries that guarantee certain other company indebtedness.
Wabtec intends to use the net proceeds, together with additional borrowings or commercial paper financing, to repay its outstanding 3.450% senior notes due November 15, 2026.
The financing therefore represents a refinancing of existing indebtedness rather than a direct capital raise for a new acquisition or expansion project.
The offering is expected to close November 4, 2026, subject to customary closing conditions.
BofA Securities, Citigroup Global Markets, PNC Capital Markets, and TD Securities are serving as joint book-running managers.
The offering follows Wabtec’s filing of an automatic shelf registration statement with the Securities and Exchange Commission on October 21, 2026.
Wabtec supplies equipment, digital technology, and services supporting rail transportation and related industrial markets worldwide.
Its operations encompass freight and transit rail solutions, as well as products and services for mining, marine, and industrial customers.
The refinancing is part of the company’s ongoing management of its debt maturity schedule and capital structure.
While the new notes have a higher coupon than the outstanding notes being repaid, the transaction extends the relevant borrowing maturity into 2037.
The offering also gives Wabtec an opportunity to address its near-term debt maturity with longer-dated financing.
