AMETEK Amends Terms of Revolving Credit Facility; Facility Extended to June 2010.PAOLI, Pa. -- AMETEK Inc. (NYSE NYSE See: New York Stock Exchange :AME See AIT. ) announced that it has amended the terms of its $300 million Revolving Credit Facility. The facility will now expire in June 2010. Prior to the extension, the facility was due to expire in January 2009. As part of this amendment, AMETEK lowered its cost of capital, reduced the number of financial covenants, and eased or removed other financial restrictions. John Molinelli, Executive Vice President and Chief Financial Officer, said, "The Revolving Credit Facility is a key part of our financing structure. Amending the terms of the facility provides AMETEK with improved access to capital and the flexibility to support our growth plans, including our successful acquisition strategy." JPMorgan was lead arranger and bookrunner and serves as Administrative Agent for the twelve-bank syndicate. Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , N.A., PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress Bank National Association, SunTrust Bank, and Wachovia Bank, N.A. serve as Syndication Agents. Corporate Profile AMETEK is a leading global manufacturer of electronic instruments and electric motors with annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. sales of approximately $1.4 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion, and New Products. Its objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P MidCap 400 Index and the Russell 1000 Index The Russell 1000 Index is a stock market index of US stocks. The ticker is "RUI" or similar. See Russell Indexes page for main discussion. See also the iShares Russell 1000. External links
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