BERWYN, Pa., Oct. 1, 2014 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) announced that it has entered into an agreement to sell
$700 million in Senior Notes in a
private placement with institutional investors at a weighted
average interest rate of 3.88%.
There are three funding dates for the Senior Notes. The
first funding occurred on September 30,
2014 for $500 million,
consisting of $300 million in
aggregate principal amount of 3.73% Senior Notes due September 2024, $100
million of 3.83% Senior Notes due September 2026, and $100
million of 3.98% Senior Notes due September 2029. The
second funding date will be June 15,
2015 for $50 million in
aggregate principal amount of 3.91% Senior Notes due June
2025. The third funding date will be August 14, 2015 for $150
million, consisting of $100
million in aggregate principal amount of 3.96% Senior Notes
due August 2025 and $50 million of 4.45% Senior Notes due
August 2035.
The Senior Notes have not been registered, and will not be
registered, under the Securities Act of 1933 and may not be offered
or sold in the United States
absent registration or an applicable exemption from the
registration requirements of the Securities Act of 1933.
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electro-mechanical
devices with 2013 sales of $3.6
billion. AMETEK's Corporate Growth Plan is based on Four
Key Strategies: Operational Excellence, Strategic Acquisitions,
Global & Market Expansion and New Products. 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 Index.
Forward-looking Information
Statements in this news
release relating to future events, such as AMETEK's expected
business and financial performance are "forward-looking
statements." Forward-looking statements are subject to
various factors and uncertainties that may cause actual results to
differ significantly from expectations. These factors and
uncertainties include AMETEK's ability to consummate and
successfully integrate future acquisitions; risks associated with
international sales and operations; AMETEK's ability to
successfully develop new products, open new facilities or transfer
product lines; the price and availability of raw materials;
compliance with government regulations, including environmental
regulations; changes in the competitive environment or the effects
of competition in our markets; the ability to maintain adequate
liquidity and financing sources; and general economic conditions
affecting the industries we serve. A detailed discussion of
these and other factors that may affect our future results is
contained in AMETEK's filings with the U.S. Securities and Exchange
Commission, including its most recent reports on Form 10-K, 10-Q
and 8-K. AMETEK disclaims any intention or obligation to
update or revise any forward-looking statements.
Contact: Kevin C. Coleman (610)
889-5247
SOURCE AMETEK, Inc.