BERWYN, PA — AMETEK, Inc. (NYSE: AME) announced that it has entered into a new five-year, delayed draw, bank term loan for up to $800 million with existing lenders under our revolving credit facility.
The term loan drawn pricing is the same as borrowings under the revolving credit facility and can be repaid at any time without penalty. Proceeds from the term loan will be used to repay borrowings under the revolving credit facility and to provide capital to support our acquisition growth strategy.
JPMorgan Chase Bank, N.A., acted as lead arranger while Bank of America N.A., Wells Fargo Bank, PNC Bank and Truist Bank acted as joint lead arrangers for the term loan, leading a syndicate that includes 5 additional banks.
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