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Subject:  Boosted $310M credit facility to $350M Date:  10/20/1998  4:37 PM
Author:  Newstraderz Number:  3 of 25

(NewsTraders) -- Westinghouse Air Brake Co. (WAB) boosted its $310 million secured credit facility to $350 million, and acquired a $30 million unsecured credit agreement, on October 5, according to a Form 8-K filing.

The company said it obtained the additional borrowings in order to finance its recent $80 million acquisition of the Railroad Electronics division of Rockwell Collins Inc., a subsidiary of Rockwell International Corp. (ROK).

Lenders for the credit facilities include Chase Manhattan Bank, Bank of New York and the other financial institutions, according to the filing.

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