M&A - GE Transportation, a Wabtec Co

Form Type: 424B5

Filing Date: 2025-05-21

Corporate Action: Acquisition

Type: New

Accession Number: 000114036125020050

Filing Summary: GE Transportation, now a Wabtec Company, is offering $500,000,000 of 4.900% Senior Notes due 2030 and $750,000,000 of 5.500% Senior Notes due 2035. These notes will be fully guaranteed on an unsecured basis by current and future subsidiaries under their 2025 Credit Agreement. The interest on the 2030 notes will be paid semi-annually starting November 29, 2025, while the 2035 notes will follow the same payment schedule commencing the same date. The proceeds will be used for general corporate purposes, including repaying outstanding senior notes due in 2025 and funding the pending acquisition of the Inspection Technologies division from Evident Corporation, expected to enhance Wabtec’s capabilities in non-destructive testing. This strategic acquisition, valued around $1.78 billion, aims to significantly expand Wabtec's product portfolio and improve its market position. Additionally, Wabtec has a separate pending acquisition for Dellner Couplers for approximately $960 million, further illustrating the company's growth strategy through acquisitions.

Form Type: 424B5

Filing Date: 2025-05-19

Corporate Action: Acquisition

Type: New

Accession Number: 000114036125019669

Filing Summary: Wabtec Co, through its subsidiary GE Transportation, registered a new offering of senior notes which will be guaranteed by current and future subsidiaries. The company intends to utilize the net proceeds primarily for repaying existing debt and funding the acquisition of the Inspection Technologies division from Evident Corporation as well as potential related fees. Wabtec has announced two pending acquisitions, namely Inspection Technologies at approximately $1.78 billion and Dellner Couplers at about $960 million. Both acquisitions aim to enhance Wabtec’s capabilities in respective markets and require customary closing conditions. The document details the interest rates, scheduled payouts, maturity dates for the notes, and highlights the risk factors involved. Furthermore, it emphasizes Wabtec’s commitment to strengthening operational efficiencies and market presence across various sectors of the freight and passenger transit industries.