Martin Marietta Materials, Inc. (MLM) announced that the company has priced an offering of three notes worth $2.5 billion. Shares of the leading supplier of heavy building materials, including aggregates, cement, ready-mixed concrete, and asphalt, gained 2.1% to close at $342.23 on June 21. MLM plans to use the proceeds from the 2031 and 2051 Notes, along with available cash, to finance the previously announced acquisition of the Lehigh West Region Business. Further, proceeds from the 2023 Notes will be utilized for general corporate purposes, including funding acquisitions and reducing debt. (See MLM stock chart on TipRanks) The offering comprises 2023 Senior Notes worth $700 million with an interest rate of 0.
https://www.tipranks.com/news/martin-marietta-materials-prices-notes-offering-worth-2-5b
Martin Marietta Materials (NYSE:MLM)
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