Wabtec Corporation has signed a new bank agreement that includes a USD 1.2 billion revolving credit facility and a USD 400 million term loan. “This new agreement provides financing for our planned acquisition of Faiveley Transport, which we expect to close in the fourth quarter, and for continued investment in Wabtec’s global growth initiatives, including other acquisitions,” Patrick D. Dugan, Wabtec’s senior vice president and chief financial officer, said.
The revolving credit facility has a five-year term and replaces the company’s previous revolver of USD 800 million, while the term loan has a three-year maturity.
Wabtec Corporation is a global provider of technology-based products and services for rail and other industrial markets. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles.
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