By Lisa Kerner
Charlotte, N.C., Oct. 1 – Ametek, Inc. entered into an agreement to sell $700 million of senior notes in a private placement with institutional investors in three tranches at a weighted average interest rate of 3.88%.
The first issue on Tuesday consisted of
• $300 million of 3.73% notes due 2024;
• $100 million of 3.83% notes due 2026; and
• $100 million of 3.98% notes due 2029.
On June 15, 2015, the company will fund $50 million of 3.91% notes due 2025, according to a company news release.
On Aug. 14, 2015, the company will fund
• $100 million of 3.96% notes due 2025; and
• $50 million of 4.45% notes due 2035.
The notes have not been registered, and will not be registered, under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Ametek is a manufacturer of electronic instruments and electro-mechanical devices. It is based in Berwyn, Pa.
Issuer: | Ametek, Inc.
|
Issue: | Senior notes
|
Amount: | $700 million
|
Pricing date: | Oct. 1
|
Distribution: | Private placement
|
|
First tranche
|
Amount: | $300 million
|
Coupon: | 3.73%
|
Maturity: | September 2024
|
Settlement date: | Sept. 30
|
|
Second tranche
|
Amount: | $100 million
|
Coupon: | 3.83%
|
Maturity: | September 2026
|
Settlement date: | Sept. 30
|
|
Third tranche
|
Amount: | $100 million
|
Coupon: | 3.98%
|
Maturity: | September 2029
|
Settlement date: | Sept. 30
|
|
Fourth tranche
|
Amount: | $50 million
|
Coupon: | 3.91%
|
Maturity: | June 2025
|
Settlement date: | June 15, 2015
|
|
Fifth tranche
|
Amount: | $100 million
|
Coupon: | 3.96%
|
Maturity: | August 2025
|
Settlement date: | Aug. 14, 2015
|
|
Sixth tranche
|
Amount: | $50 million
|
Coupon: | 4.45%
|
Maturity: | August 2035
|
Settlement date: | Aug. 14, 2015
|
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