The Westinghouse Air Brake Technologies Corporation’s $2.5 Billion Registered Fixed and Floating Rate Notes Offering
October 09, 2018
Cravath represented the underwriters, led by Goldman Sachs & Co. LLC, Bank of America Merrill Lynch, J.P. Morgan Securities and PNC Capital Markets LLC, in connection with the $2.5 billion registered fixed and floating rate senior notes offering of Westinghouse Air Brake Technologies Corporation, a leading supplier of value‑added, technology‑based products and services for freight rail, passenger transit and select industrial markets worldwide. Proceeds of the offering will be used to finance the proposed combination of Westinghouse Air Brake Technologies Corporation with General Electric Company’s transportation business. The transaction closed on September 14, 2018.
The Cravath team included partner Andrew J. Pitts and associates Steven Y. Li, Brian C. Mulhall and Ashley R. Gust on securities matters; partner J. Leonard Teti II and associate Andrew L. Mandelbaum on tax matters; and senior attorney Annmarie M. Terraciano on environmental matters.
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M.B.A., 1995, Boston Universitywith High Honors
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J.D., 1994, Boston University School of Lawsumma cum laude
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B.A., 1988, Trinity College
- New York
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
- New York
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Cravath represented the underwriters in connection with the $1.25 billion registered senior notes offering of Westinghouse Air Brake Technologies Corporation (“Wabtec”), one of the world’s largest providers of value‑added, technology‑based locomotives, equipment, systems and services for the global freight rail and passenger transit industries, and also serves customers in the mining, marine and industrial markets. Proceeds of the offering will be used to partially finance Wabtec’s acquisition of Evident Corporation’s Inspection Technologies division. The transaction closed on May 29, 2025.
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Westinghouse Air Brake Technologies Corporation’s $2.725 Billion of Credit Facilities
Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with $2.725 billion of credit facilities made available to Westinghouse Air Brake Technologies Corporation and certain of its subsidiaries. Westinghouse Air Brake Technologies Corporation is a leading global provider of equipment, systems, digital solutions, and value-added services for the freight and transit rail sectors. The facilities consisted of a $2 billion revolving credit facility and a $725 million delayed draw term loan facility. The transaction closed on April 23, 2025.
