BERWYN,
Pa., May 13, 2022 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) announced that it has completed an amended and restated
Revolving Credit Facility increasing the size from $1.5 billion to $2.3
billion. The facility, previously due to expire in
October 2023, now has a maturity date
of May 2027. In conjunction with this
expanded Revolving Credit Facility, AMETEK has terminated the
$800 million delayed draw, bank term
loan.
"AMETEK's Revolving Credit Facility is a key component of our
financing structure. This upsized and extended facility provides us
with additional flexibility to support our growth initiatives,
including strategic acquisitions," commented William J. Burke, Executive Vice President and
Chief Financial Officer.
JPMorgan Chase Bank, Bank of America, PNC Bank, Truist Bank and
Wells Fargo Bank, acted as joint lead arrangers and joint book
managers for the credit facility, leading a syndicate that includes
six additional banks.
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electromechanical
devices with 2021 sales of $5.5
billion. The AMETEK Growth Model integrates the Four Growth
Strategies - Operational Excellence, New Product Development,
Global and Market Expansion, and Strategic Acquisitions - with a
disciplined focus on cash generation and capital deployment.
AMETEK's objective is double-digit percentage growth in earnings
per share over the business cycle and a superior return on total
capital. The common stock of AMETEK is a component of the S&P
500.
Contact:
Kevin
Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610.889.5247
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SOURCE AMETEK, Inc.