BERWYN, Pa., April 29, 2021 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) announced that it has entered into a new five-year,
delayed draw, bank term loan for up to $800
million with existing lenders under our revolving credit
facility. The term loan drawn pricing is the same as borrowings
under the revolving credit facility and can be repaid at any time
without penalty. Proceeds from the term loan will be used to repay
borrowings under the revolving credit facility and to provide
capital to support our acquisition growth strategy.
JPMorgan Chase Bank, N.A., acted as lead arranger while Bank of
America N.A., Wells Fargo Bank, PNC Bank and Truist Bank acted as
joint lead arrangers for the term loan, leading a syndicate that
includes 5 additional banks.
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electromechanical
devices with annual sales in 2020 of more than $4.5 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:
AMETEK, Inc.
Kevin Coleman
Vice President, Investor Relations
1100 Cassatt Road
Berwyn, Pennsylvania 19312
kevin.coleman@ametek.com
Phone: 610.889.5247
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SOURCE AMETEK, Inc.