Martin Marietta Announces Pricing Terms of Debt Offering
March 05 2020 - 5:40PM
Martin Marietta Materials, Inc. (NYSE:MLM) (“Martin Marietta” or
the “Company”) announced today the pricing of its offering of $500
million aggregate principal amount of 2.500% Senior Notes due 2030
(the “Senior Notes”). The Senior Notes will mature on March 15,
2030, will have an interest rate of 2.500% and will be issued at
98.864% of par value. Interest on the Senior Notes will be paid
semiannually on March 15 and September 15, commencing September 15,
2020. The Senior Notes will be sold pursuant to Martin Marietta’s
shelf registration statement, base prospectus and prospectus
supplement on file with the Securities and Exchange Commission
(“SEC”).
The net proceeds of the offering are expected to
be used for general corporate purposes, which will include, among
other things, repayment at maturity of Martin Marietta’s existing
floating rate notes due May 2020. Closing of the offering is
expected to occur on March 16, 2020, subject to the satisfaction of
customary closing conditions.
Deutsche Bank Securities Inc., J.P. Morgan
Securities LLC, Wells Fargo Securities, LLC and SunTrust Robinson
Humphrey, Inc. will serve as underwriters and joint book-running
managers for the offering.
Martin Marietta has filed a shelf registration
statement on Form S-3 (including a base prospectus) with the SEC
for the offering to which this communication relates. Before you
invest, you should read the prospectus in that registration
statement and the prospectus supplement thereto and the other
documents that Martin Marietta has filed or will file with the SEC
for more complete information about Martin Marietta and this
offering. The offering will be made only pursuant to the terms of
the relevant prospectus supplement (including the prospectus).
These documents will be available at no charge by visiting EDGAR on
the SEC website at www.sec.gov. Alternatively, these documents
will be made available upon request to any underwriter
participating in the offering. Interested parties may obtain a
prospectus and the related prospectus supplement from Deutsche Bank
Securities Inc., 60 Wall Street, New York, New York 10005, Attn:
Prospectus Group by telephone at (800) 503-4611 or by email at
prospectus.CPDG@db.com; and J.P. Morgan Securities LLC, 383 Madison
Avenue, New York, New York 10179, Attn: Investment Grade Syndicate
Disk—3rd Floor or by telephone at (212) 834-4533.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy any securities. Offers
of securities will be made only by means of a prospectus filed with
the SEC. The prospectus is part of a shelf registration statement
that has become effective under the Securities Act of 1933, as
amended.
Company Description
Martin Marietta, a member of the S&P 500
Index, is an American-based company and a leading supplier of
building materials, including aggregates, cement, ready mixed
concrete and asphalt. Through a network of operations spanning 27
states, Canada and the Bahamas, dedicated Martin Marietta teams
supply the resources for building the solid foundations on which
our communities thrive. Martin Marietta’s Magnesia Specialties
business provides a full range of magnesium oxide, magnesium
hydroxide and dolomitic lime products.
Investor Contact:Suzanne OsbergVice President,
Investor Relations(919)
783-4691Suzanne.Osberg@martinmarietta.com
MLM-G
Cautionary Statement About
Forward-Looking Statements
Investors are cautioned that all statements in
this release that relate to the future involve risks and
uncertainties, and are based on assumptions that the Company
believes in good faith are reasonable but which may be materially
different from actual results. These statements, which are
forward-looking statements under the Private Securities Litigation
Reform Act of 1995, give the investor the Company’s expectations or
forecasts of future events. You can identify these statements by
the fact that they do not relate only to historical or current
facts. They may use words such as “guidance”, “anticipate”,
“expect”, “should”, “believe”, “will”, and other words of similar
meaning in connection with future events or future operating or
financial performance. Any or all of our forward-looking statements
here and in other publications may turn out to be wrong.
Statements and assumptions on future revenues,
income and cash flows, performance, economic trends, the outcome of
litigation, regulatory compliance and environmental remediation
cost estimates are examples of forward-looking statements. Numerous
factors could affect our forward-looking statements and actual
performance. In addition, other risks and uncertainties not
presently known to us or that we currently consider immaterial
could affect the accuracy of our forward-looking statements.
Except as required by law, we undertake no
obligation to update any forward-looking statements in order to
reflect any event or circumstance that may arise after the date of
this press release.
You should consider these forward-looking
statements in light of risk factors discussed in the preliminary
prospectus supplement filed with the SEC on March 5, 2020 and those
in our Annual Report on Form 10-K for the year ended December 31,
2019 and other periodic filings made with the SEC. All of our
forward-looking statements should be considered in light of these
factors. In addition, other risks and uncertainties not presently
known to us or that we consider immaterial could affect the
accuracy of our forward-looking statements, or adversely affect or
be material to the Company. The Company assumes no obligation to
update any such forward-looking statements.
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