AMETEK amended and restated its revolving credit facility, increasing the size from $850 million to $1.5 billion and extending the maturity date from March 2021 to October 2023.
Bank of America, Wells Fargo Bank, JPMorgan Chase Bank, PNC Bank and SunTrust Bank acted as joint lead arrangers and joint book managers for the facility, leading a syndicate that included five additional banks.
“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,” said William J. Burke, AMETAK executive vice president and chief financial officer.
AMETEK manufactures electronic instruments and electromechanical devices with annualized sales of approximately $4.8 billion.
