FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Bank Syndicate Upsizes AMETEK’s Revolving Credit Facility to $2.3B

May 16, 2022, 07:42 AM
Filed Under: Electronics

AMETEK 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.

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.

"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.

AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2021 sales of $5.5 billion.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.