8-KOther Events

AMETEK INC/ 8-K Report (Sep 19, 2001)

Filed September 19, 2001For Securities:AME

Summary

AMETEK, Inc. (AME) filed an 8-K on September 19, 2001, to announce the completion of a new $300 million, five-year Revolving Credit Facility. This new facility significantly expands the company's borrowing capacity from its previous $195 million facility, which was set to expire in 2002. The increased credit line provides AMETEK with greater financial flexibility and resources to support its ongoing operations, strategic initiatives, and potential growth opportunities. The refinancing represents a proactive step by AMETEK's management to secure substantial liquidity. Investors should view this as a positive development, indicating the company's commitment to maintaining a strong financial position and its ability to access capital markets effectively. The larger facility offers a cushion for unexpected needs and allows for more robust financial planning.

Key Highlights

  • 1AMETEK, Inc. secured a new $300 million five-year Revolving Credit Facility.
  • 2This new facility replaces a prior $195 million facility.
  • 3The previous credit facility was scheduled to expire in 2002.
  • 4The event date for this announcement was September 17, 2001.
  • 5The filing date for this Form 8-K was September 19, 2001.
  • 6The new credit facility enhances AMETEK's liquidity and financial flexibility.
  • 7The press release announcing the credit facility is included as an exhibit.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce that AMETEK, Inc. has completed a new $300 million, five-year Revolving Credit Facility.

The new $300 million facility is larger than the previous $195 million facility and has a longer term (five years compared to the previous facility's expiration in 2002).

The new, larger credit facility enhances AMETEK's financial flexibility, provides increased liquidity, and gives the company more resources to support its operations, strategic growth initiatives, and potential acquisitions or investments.

More details about the new credit facility can be found in the press release issued by AMETEK, Inc. on September 17, 2001, which is attached as Exhibit 99(a) to this Form 8-K filing.