Westinghouse Air Brake Technologies Corporation filed a free writing prospectus on November 2, 2026, setting final terms for a $500,000,000 offering of 5.900% Senior Notes due February 25, 2037.

Key Highlights

  • Offering size: $500,000,000 in aggregate principal amount of 5.900% Senior Notes due 2037
  • Price to public: 99.735% of principal amount, with a yield to maturity of 5.936%
  • Spread: Treasury plus 105 basis points over the 4.625% benchmark Treasury due August 15, 2036
  • Expected ratings: Moody's Baa2 with Positive Outlook; S&P BBB with Stable Outlook; Fitch BBB with Stable Outlook
  • Settlement date: November 4, 2026 (T+2), with interest payments beginning February 25, 2027
  • Par call date: November 25, 2036, three months prior to the maturity date
  • CUSIP / ISIN: 960386 AU4 / US960386AU45

Final Term Sheet Details for the Wabtec 2037 Senior Notes Offering

According to the filing, Westinghouse Air Brake Technologies Corporation priced its SEC-registered offering of $500,000,000 aggregate principal amount of 5.900% Senior Notes on November 2, 2026. The notes are set to mature on February 25, 2037, and were offered to the public at 99.735% of principal amount, producing a yield to maturity of 5.936%. The spread to the benchmark Treasury was disclosed as T+105 basis points, referencing the 4.625% Treasury due August 15, 2036, which was priced at 97-31+ to yield 4.886%.

The filing states that interest will be paid semi-annually on February 25 and August 25 of each year, beginning February 25, 2027, using a 30/360 day count convention. Prior to the par call date of November 25, 2036, the company may redeem the notes in whole or in part at a redemption price equal to the greater of the present value of remaining scheduled payments discounted at the Treasury Rate plus 20 basis points (less accrued interest) or 100% of principal, in either case plus accrued and unpaid interest. On or after the par call date, the redemption price is 100% of principal plus accrued and unpaid interest.

The offering's joint book-running managers listed in the filing include 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., and SG Americas Securities, LLC. Senior co-managers are identified as BMO Capital Markets Corp., Goldman Sachs & Co. LLC, Huntington Securities, Inc., Morgan Stanley & Co. LLC, and U.S. Bancorp Investments, Inc. The filing notes that delivery of the notes was expected against payment on or about November 4, 2026. The registration statement was filed under Registration Number 333-299570.

What Was Disclosed

Westinghouse Air Brake Technologies Corporation disclosed the final pricing terms for a $500,000,000 offering of 5.900% Senior Notes due 2037, including coupon, yield, spread, redemption provisions, ratings, and settlement details, in a free writing prospectus filed November 2, 2026.