Wabtec 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. Citi Bank, HSBC, JPMorgan Chase Bank and TD Bank are acting as co-syndication agents. BNP Paribas, Credit Agricole CIB, First National Bank, MUFG and U.S. Bank are acting as co-documentation agents.