BERWYN, Pa., Nov. 1, 2018 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) announced that it has completed an amended and restated
Revolving Credit Facility increasing the size from $850 million to $1.5
billion. The facility, previously due to expire in
March 2021, now has a maturity date
of October 2023.
"AMETEK's Revolving Credit Facility is a key component of our
financing structure. By increasing its size to $1.5 billion, we gain additional flexibility to
support our growth initiatives, including strategic acquisitions,"
commented William J. Burke,
Executive Vice President and Chief Financial Officer.
JPMorgan Chase Bank, N.A., Bank of America N.A., Wells Fargo
Bank, PNC Bank and SunTrust Bank acted as joint lead arrangers and
joint book managers for the credit facility, leading a syndicate
that includes five additional banks.
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electromechanical
devices with annualized sales of approximately $4.8 billion. AMETEK's growth model 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.
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.