AMETEK, Inc. (NYSE: AME) announced that it has entered into an agreement to sell the equivalent of approximately $825 million in Senior Notes in a private placement with institutional investors at a weighted average interest rate of 1.82% and a weighted average maturity of 11.5 years. Proceeds from the offering will be used to repay existing debt and to provide capital to support our growth strategies.

There are two funding dates for the Senior Notes. The first funding occurred on October 31, 2016 for €500 million, consisting of €300 million in aggregate principal amount of 1.34% Senior Notes due October 2026 and €200 million in aggregate principal amount of 1.53% Senior Notes due October 2028. The second funding date will be November 23, 2016 for £225 million, consisting of £150 million in aggregate principal amount of 2.59% Senior Notes due November 2028 and £75 million in aggregate principal amount of 2.70% Senior Notes due November 2031.

The Senior 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 of the Securities Act of 1933.

Corporate Profile

AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annual sales of approximately $4.0 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions, Global & Market Expansion and New Products. AMETEK's 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 500 Index.