Westinghouse Air Brake Technologies Corporation’s Registered Senior Notes Offering

On September 30, 2026, Westinghouse Electric Company (“Westinghouse”) and Brookfield Asset Management (“Brookfield”) welcomed the new strategic partnership between the U.S. Government and the Republic of Korea (“Korea”) to support the deployment of Westinghouse technology in the U.S. Under the partnership, Korea commits up to $120 billion of investment to help finance the construction of eight nuclear reactors in the U.S., including six Westinghouse AP1000 reactors and two Korean APR1400 reactors which also incorporate Westinghouse technology. The partnership also provides for a cornerstone equity investment of between 5% and 10% in Westinghouse by Korea. Cravath is representing Westinghouse and Brookfield in connection with the strategic partnership.

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.

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.