Wabtec lifts revolving facility to $800 million, extends by two years

By Susanna Moon

Chicago, Dec. 20 - Wabtec Corp. said it upsized its revolving credit facility to $800 million and extended the maturity date by two years.

The 16-bank group was led by PNC as the joint lead arranger, joint bookrunner and administrative agent and by J.P. Morgan is the joint lead arranger, joint bookrunner and syndication agent.

The amended facility has a five-year term and adds more financing flexibility, compared with the previous size of $600 million, according to a company press release.

"The agreement provides more than adequate financing and flexibility for Wabtec to continue to invest in its global growth initiatives," Alvaro Garcia-Tunon, Wabtec's executive vice president and chief financial officer, said in the press release.

Wabtec is a Wilmerding, Pa.-based maker of railroad equipment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.