11/02/2026 | Press release | Distributed by Public on 11/02/2026 16:19
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Issuer:
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Westinghouse Air Brake Technologies Corporation
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Legal Format:
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SEC-Registered
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Size:
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$500,000,000
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Expected Ratings:(1)
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Moody's: Baa2 (Positive Outlook)
S&P: BBB (Stable Outlook) Fitch: BBB (Stable Outlook) |
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Maturity Date:
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February 25, 2037
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Coupon (Interest Rate):
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5.900%
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Yield to Maturity:
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5.936%
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Spread to Benchmark Treasury:
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T + 105 bps
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Benchmark Treasury:
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4.625% due August 15, 2036
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Benchmark Treasury Price and Yield:
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97-31+ / 4.886%
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Interest Payment Dates:
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February 25 and August 25, beginning on February 25, 2027
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Day Count Convention:
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30 / 360
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Business Day Convention:
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Following, Unadjusted
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| Par Call Date: | November 25, 2036 (the date that is three months prior to the maturity date) |
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Optional Redemption:
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Prior to the Par Call Date, the Issuer may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:
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(1) |
(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points less (b) interest accrued thereon to the date of redemption, and | ||
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(2) |
100% of the principal amount of the Notes to be redeemed, | ||
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plus, in either case, accrued and unpaid interest thereon to, but not including, the redemption date.
On or after the Par Call Date, the Issuer may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date.
See the Preliminary Prospectus Supplement for the definition of "Treasury Rate" and for further terms and provisions applicable to optional redemption.
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CUSIP / ISIN:
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960386 AU4 / US960386AU45
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Price to Public:
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99.735%
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Trade Date:
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November 2, 2026
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Settlement Date:(2)
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November 4, 2026 (T+2)
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Joint Book-Running Managers:
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BofA Securities, Inc.
Citigroup Global Markets Inc.
PNC Capital Markets LLC
TD Securities (USA) LLC
BNP Paribas Securities Corp.
Credit Agricole Securities (USA) Inc.
FNB America Securities LLC
HSBC Securities (USA) Inc.
J.P. Morgan Securities LLC
MUFG Securities Americas Inc.
Scotia Capital (USA) Inc.
SG Americas Securities, LLC
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Senior Co-Managers:
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BMO Capital Markets Corp.
Goldman Sachs & Co. LLC
Huntington Securities, Inc.
Morgan Stanley & Co. LLC
U.S. Bancorp Investments, Inc.
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