Wabco gets $100 million five-year revolver at Libor plus 45-100 bps

By Susanna Moon

Chicago, Dec. 19 – Wabco Holdings Inc. obtained a $100 million multi-currency five-year senior unsecured revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

Interest on the loans will be Libor plus 45 basis points to 100 bps, based on leverage.

The company entered into a credit agreement on Wednesday with Bank of America NA, London Branch, Citigroup Global Markets Ltd., BNP Paribas Fortis Bank SA/NV, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Unicredit Bank AG as the lead arrangers. Citibank International Ltd. is the agent.

The facility will expire on Dec. 17, 2019.

The company may request an upsizing of up to $50 million at any time after the date of the facility, the filing noted.

Proceeds will be used to repurchase shares, to finance acquisitions, to provide working capital, to refinance debt and for other general corporate purposes.

Wabco is based in Piscataway, N.J. It makes electronic, mechanical and mechatronic products for automobile manufacturers.

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