Wabtec announces new financing as it readies for merger with GE Transportation

Wabtec Corp. on Wednesday said it has entered into new financing arrangements in connection with its pending $10 billion merger with GE Transportation.

The new arrangements include syndication of a $2.5 billion senior unsecured bridge commitment and $400 million senior unsecured delayed draw term loan to fund the cash portion of the merger, Wilmerding-based Wabtec (NYSE:WAB) said in a release. This provides that the bridge commitment will be reduced by any alternative financing that Wabtec arranges…

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