Wabtec Expands Credit Facility To $1.5B

Westinghouse Air Brake Technologies Corp WAB (Wabtec) signed an amended and restated credit agreement, increasing the size of its existing revolving credit facility from $1.2 billion to $1.5 billion and adding a $250 million delayed draw term loan facility.
The facility, due to expire in June 2023, now has a maturity date of August 2027.
Also Read: Wabtec Reports Mixed Q2 Results; Tightens FY22 EPS View
The terms and provisions of the new facility are materially unchanged from the existing credit facility.
Price Action: WAB shares are trading lower by 1.57% at $94.83 on the last check Wednesday.