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PNC Bank Agents Credit Facility Upsize for Wabtec

August 18, 2022, 07:38 AM
Filed Under: Transportation

Wabtec Corporation signed an amended and restated credit agreement that will increase the size of its existing revolving credit facility from $1.2 billion to $1.5 billion and added a $250 million delayed draw term loan facility. The facility, previously due to expire in June 2023, now has a maturity date of August 2027. The terms and provisions of the new facility are materially unchanged from the existing credit facility, subject to a pricing structure change revising the LIBOR-based pricing grid to a SOFR-based pricing grid, among other business-specific changes.

PNC Bank is acting as the administrative agent. CitiBank, HSBC, JPMorgan Chase Bank, and TD Bank are acting as co-syndication agents. BNP Paribas, Credit Agricole CIB, First National Bank, MUFG LTD, and US Bank are acting as co-documentation agents.

Wabtec Corporation is focused on creating transportation solutions that move and improve the world. 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 150 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide.

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