BERWYN, Pa., Dec. 17, 2018 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) announced that it has entered into an agreement to sell
the equivalent of approximately $660
million in Senior Notes in a private placement with
institutional investors at a weighted average interest rate of
3.93% and a weighted average maturity of 8.2 years. Proceeds from
the offering will be used to provide capital to support our growth
strategies and repay existing debt.
There are two funding dates for the Senior Notes. The first
funding occurred on December 13, 2018 for approximately
$560 million, consisting of
$275 million in aggregate principal amount of 4.18% Senior
Notes due December 2025, $150 million in aggregate principal amount of
4.32% Senior Notes due December 2027,
€75 million in aggregate principal amount of 1.71% Senior Notes due
December 2027 and $50 million in aggregate principal amount of
4.37% Senior Notes due December 2028.
The second funding date will be January 14,
2019 for $100 million of 4.32% Senior Notes due
December 2027.
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 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.
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:
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.