AMETEK Announces Amended Revolving Credit Facility
- Friday, May 13, 2022
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.
About AMETEK
AMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annualized sales of approximately $7.5 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, Technology Innovation, 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. Founded in 1930, AMETEK has been listed on the NYSE for over 90 years and is a component of the S&P 500. For more information, visit www.ametek.com.Contact:
Kevin Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610.889.5247
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